As delegates prepare to gather at the Queen Sirikit National Convention Centre in Bangkok, Thailand, for the 2026 IMF-World Bank Group Annual Meetings from October 12 to 18, the competition for foreign direct investment (FDI) remains intense. Developing economies across Africa, Asia and Latin America are competing for global private capital to finance infrastructure, expand businesses and create jobs. The meetings will include discussions on mobilising private capital for jobs and development.
In this high-stakes environment, Ghana’s delegation enters discussions amid improving economic indicators and renewed efforts to strengthen the country’s international standing following President John Dramani Mahama’s policy address at the 81st United Nations General Assembly. However, the key question is whether Ghana can convert its improving global image into concrete investment commitments to finance domestic policy priorities, including the 24-Hour Economy agenda, export expansion, housing infrastructure and social sector programmes.
The Investment Pitch: Aligning Domestic Policy with Global Capital
Ghana’s macroeconomic backdrop provides an important foundation for discussions in Bangkok. Inflation stood at 5.2% in September 2026, up from 5.0% in August but well below the 9.4% recorded a year earlier. The Ghana Reference Rate, a benchmark used by commercial banks to price loans, also eased to 10.04% in October from 10.18% in September. These indicators point to improved macroeconomic conditions, although rising inflation in recent months and the cost of commercial borrowing remain relevant considerations for businesses and investors.
To stand out in a crowded market, Ghana is seeking to align its domestic Reset Agenda with international development financing priorities. Proposed co-financing models for industrial parks, power grid modernisation and logistics corridors under the 24-Hour Economy framework could help attract private capital, particularly as the World Bank places greater emphasis on mobilising private investment for employment and economic growth.
Concurrently, Ghana is looking to expand financing options for trade and production under the African Continental Free Trade Area (AfCFTA). Non-debt trade credit facilities and cross-border settlement support could help local manufacturers and agribusinesses secure working capital, process more goods locally and reach wider African markets.
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The delegation’s investment priorities also include engaging institutional real estate investors and development finance institutions to structure blended-finance arrangements for affordable housing and Rent-to-Own schemes. Targeted concessional financing for health and technical education infrastructure could further support development priorities while limiting additional pressure on government borrowing and debt-servicing costs.
The Competitive Landscape: Overcoming Global and Continental Competition
Converting goodwill into financial commitments will not be easy. Ghana competes with emerging markets across Africa and Southeast Asia that are also seeking to attract international investors through investment incentives, infrastructure opportunities and regulatory reforms.
Global economic pressures add to the challenge. Geopolitical conflicts have disrupted energy supplies and raised concerns about fuel and freight costs, while high borrowing costs and debt obligations are limiting the fiscal space available to developing economies.
The African Development Bank reported that African governments devoted an average of more than 31% of their revenue to external debt service in 2024, up from 11.7% in 2011. This figure covers principal and interest payments on external debt, highlighting the growing pressure on public finances across the continent.
For Ghana, these pressures strengthen the case for attracting private investment without creating unsustainable public liabilities. However, investors will still assess the risks attached to individual projects, including the stability of regulations, the reliability of infrastructure and the ability of businesses to generate returns.
To overcome these hurdles, Ghana’s delegation must demonstrate strong execution capacity. Investors will want clear regulatory frameworks, transparent public-private partnership (PPP) structures, credible risk-sharing arrangements and clarity on the rules governing the repatriation of profits. These conditions can help build confidence that investments will remain commercially viable over the long term.
Translating Goodwill into Execution
The 2026 Annual Meetings offer Ghana an opportunity to move beyond policy announcements towards commercially viable projects and financing agreements. With international institutions increasingly focused on mobilising private capital for jobs, infrastructure and sustainable growth, Ghana’s success in Bangkok will depend on its ability to present bankable projects with clear financing structures, manageable risks and measurable economic benefits.
