*GHANA RAISES $2.7BN IN FIRST 7-YEAR CEDI BOND SINCE 2022 DEFAULT AS COUNTRY EXITS "ORIGINAL SIN"*

Ghana has successfully returned to the domestic bond market, raising $2.7 billion through its first 7-year cedi-denominated bond since the 2022 debt default, marking a key step in restoring long-term financing in the local currency.

Presenting the Mid-Year Fiscal Policy Review of the 2026 Budget in Parliament on Thursday, July 23, 2026, the Minister for Finance, Dr. Cassiel Ato Forson, said the country has overcome what economists call the "original sin" the inability to borrow long term in its own currency.

"Mr speaker, Ghana has now overcome what the economies describe as the original sin. Which is the inability of the country to borrow over the long term in its own currency,"he stated.

Dr. Forson recalled that following the 2022 public debt default, government could not borrow long term and relied solely on treasury bills to finance the budget.

"Mr speaker, following the twenty twenty-two public debt default government could not borrow long term inceases and rely and solely on treasury bills to finance the budget," he told the House.

He said the successful issuance in April 2026 ended a three-and-a-half-year restriction on new cedi bond issues.

"Mr speaker, in April twenty twenty-six Ghana successfully raised two point seven billion dollars through its first seven year city denominated bond since the twenty twenty-two debt default. This marks an important step in rebuilding the domestic bond market and restoring long term financing in our own currency," Dr. Forson said.

The Finance Minister described the turnaround as a major achievement for the country.

"In this year of twenty twenty-two it's now against final stage. 

In just three and a half years, Ghana has moved from default to credibility. 

From debt to stress to debt sustainability. From market to a renewed investor confidence. This is an achievement every Ghanaian can be proud of," he said.

Reporr by PKB