An Economist, Professor Godfred Bokpin, has emphasised that re-entering the international capital market is crucial for financing government projects in 2026 and 2027.

He commended the government for honoring its debt obligations to external bondholders by paying GH¢9.7 billion in coupon arrears last week, bringing total debt service for the year to GH¢19.7 billion.

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Professor Bokpin said the government’s commitment to debt repayment demonstrates predictability, which is critical for attracting external investors.

“If you look at what we have gone through with the debt restructuring, and the fact that it has shaken market confidence, I think the predictability and consistency in keeping to the debt repayment roadmap are good for rebuilding trust. Government itself is considering reopening the bond market,” he was quoted by citinewsroom.com.

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The economist underscored the importance of economic predictability to make Ghana's re-entry into the capital market smooth.

He warned that failure to re-enter the market would negatively affect the financing of government projects in the next two years.

“You need this predictability to consolidate confidence so that we can reopen the bond market and, hopefully, the international capital market going forward.

"That will offer some transition and flexibility for the government’s fiscal operations and debt sustainability. Without re-entering the capital markets, both domestic and international, it will be very difficult to refinance the bullet payments due in 2027 and 2028, in addition to financing government projects. It is going to be tough,” he said.

SSD/MA

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