Ghana has moved from default to credibility – Ato Forson

"Ghana has now overcome what economists describe as the original sin, which is the inability of a country to borrow over the long term in its own currency," he stated, explaining that the three-year restriction on issuing new cedi-denominated bonds following the debt default had contributed to that challenge.

Dr Forson recalled that following the 2022 debt default, the government lost access to long-term borrowing in the domestic market and had to depend almost entirely on Treasury bills to finance its budget."Following the 2022 public debt default, the government could not borrow long-term in cedis and relied heavily and solely on Treasury bills to finance the budget," he said.