Angola vs Ghana
Two sovereigns, nine shared metrics, one spread gap.
Head to head
| Angola | Ghana | |
|---|---|---|
| BT-SFS score | 42.4 | 45.0 |
| Composite rating | B− | B− |
| Fiscal pillar | 51.6 | 56.5 |
| External pillar | 67.3 | 43.4 |
| Macro pillar | 40.2 | 69.7 |
| Institutions pillar | 8.3 | 68.8 |
| Benchmark bond | ANGOL 9.375 33 | GHANA 5 35 |
| Spread over Treasuries | 494 bps | 303 bps |
| Yield to worst | 9.09% | 7.18% |
| Duration | 4.8y | 5.1y |
Metric by metric
| Metric | Angola | Ghana |
|---|---|---|
| Current account / GDP | 2.2% (77.1) | 10.1% (97.9) |
| International reserves, months of imports | 5.5 mo (60.0) | 1.6 mo (2.2) |
| General government debt / GDP | 51.6% (68.8) | 53.0% (66.7) |
| Interest expense / revenue | 26.0% (12.5) | 22.2% (25.0) |
| Primary balance / GDP | 1.3% (77.1) | 1.5% (81.3) |
| WGI institutional composite | -0.86 (8.3) | -0.03 (68.8) |
| Real GDP growth | 2.3% (30.2) | 4.8% (89.6) |
| GDP per capita, USD | $3,754 (16.7) | $3,314 (14.6) |
| Inflation stress | 12.9% (65.3) | 5.8% (96.0) |
Frequently asked questions
Who has stronger fundamentals, Angola or Ghana?
Ghana scores higher on the BT Sovereign Fundamentals Score: 42.4 (Angola) vs 45.0 (Ghana), a gap of 2.6 points.
Whose USD bonds trade wider, Angola or Ghana?
Angola trades wider: 494 bps (Angola) vs 303 bps (Ghana) over US Treasuries — a 191 bps gap on near-5-year USD benchmarks.
Related
- Angola — full Angola profile: pillars, metrics, history.
- Ghana — full Ghana profile: pillars, metrics, history.
- All sovereigns ranked on the Sovereign Signal hub.
- BT-SFS methodology paper — how the scores are built.