Ghana's high debt distress classification is expected to be reviewed after 2028, according to the International Monetary Fund (IMF). The current classification is due to near-term breaches of the Debt Sustainability Analysis (DSA) threshold.

The IMF has indicated that Ghana is on track to achieve a "Moderate Risk" debt distress rating by 2028. This is contingent on the country meeting certain targets, including reducing its debt-to-GDP ratio.

To achieve this, Ghana needs to reduce its Present Value (PV) of Total Debt-to-GDP and external debt service-to-revenue ratios to 55% and 18% respectively by 2028. This will require a revenue-based fiscal consolidation strategy and enhanced spending efficiency.

The IMF's assessment comes amid Ghana's announcement of achieving approximately 90% completion in restructuring its public debt. Recent data from the Bank of Ghana (BoG) revealed a reduction in the total debt stock by over GHS 46 billion.

The reduction in the debt stock is a positive step towards achieving debt sustainability. However, the IMF has emphasized the need for Ghana to continue implementing fiscal consolidation measures to achieve its debt targets.

Overall, the IMF's review of Ghana's debt classification is a positive development for the country. It indicates that Ghana is making progress towards achieving debt sustainability and reducing its risk of debt distress.