Ghana government bonds
Ghana's bonds as US funds mark them in their filings (SEC Form N-PORT), by currency. Fund marks as of Jul 2026; they lag the market by about two months.
By currency
| Bonds | Measured against | Count | Spread | 10-year spread | Priced-in 5y odds | 1-month change | Median yield | Held by US funds |
|---|---|---|---|---|---|---|---|---|
| USD Emerging markets, US-dollar bonds | vs US Treasuries | 8 | n/a | 275 bp | — | — | — | $388.9M |
| GHS Own-currency bonds | own currency: yield only, no default number | 11 | — | — | — | — | 14.41% | $50.9M |
Priced-in odds = spread ÷ (1 − 40% recovery) over five years; it includes a risk premium and overstates actual defaults. Own-currency bonds get a yield and no odds: a government can print its own currency.
USD spread history
Median spread vs US Treasuries, month-ends with complete filings. Fund-reported.
Ghana's GHS curve
Yield to maturity of each GHS bond US funds hold (11 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Ghana's debt
Fund series holding Ghana's government and government-related bonds in their latest quarterly report: 189 now, 186 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 2 | $132.6M | $124.2M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | 1 | $87.8M | $81.5M |
| American Beacon Developing World Income Fund | 2026-07-31 | 13 | $493.5M | $62.5M |
| T. Rowe Price Emerging Markets Bond Fund | 2026-06-30 | 8 | $53.2M | $49.6M |
| VANGUARD EMERGING MARKETS BOND FUND | 2026-06-30 | 2 | $35.0M | $34.5M |
| VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 7 | $37.2M | $32.8M |
| TCW Emerging Markets Income Fund | 2026-07-31 | 3 | $30.9M | $28.8M |
| GMO Emerging Country Debt Fund | 2026-05-31 | 3 | $28.4M | $26.5M |
| Columbia Strategic Income Fund | 2026-05-31 | 1 | $27.0M | $25.2M |
| PIMCO Emerging Markets Bond Fund | 2026-06-30 | 12 | $93.2M | $20.9M |
| Emerging Markets Debt Fund | 2026-05-31 | 4 | $21.1M | $20.2M |
| Fidelity New Markets Income Fund | 2026-06-30 | 4 | $21.0M | $20.1M |
| iShares Flexible Income Active ETF | 2026-07-31 | 3 | $18.0M | $17.3M |
| Templeton Global Bond Fund | 2026-06-30 | 2 | $20.6M | $13.9M |
| THRIVENT CORE EMERGING MARKETS DEBT FUND | 2026-07-31 | 5 | $14.2M | $13.4M |
| JPMorgan Income Fund | 2026-05-31 | 3 | $13.6M | $13.0M |
| BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 2026-07-31 | 2 | $12.7M | $12.0M |
| MFS Emerging Markets Debt Fund | 2026-07-31 | 1 | $12.2M | $11.2M |
| Strategic Advisers Fidelity Core Income Fund | 2026-05-31 | 4 | $11.4M | $10.9M |
| Finisterre Emerging Markets Total Return Bond Fund | 2026-07-31 | 3 | $11.5M | $10.6M |
ETFs holding Ghana's bonds
From each ETF's own latest N-PORT report, as a share of its net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Value | % of net assets |
|---|---|---|---|---|
| EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 2 | $124.2M | 0.85% |
| VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 7 | $32.8M | 0.49% |
| XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 2026-07-31 | 2 | $12.0M | 1.42% |
| JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF | 2026-07-31 | 5 | $8.5M | 1.97% |
| EMHY iShares J.P. Morgan EM High Yield Bond ETF | 2026-07-31 | 2 | $8.4M | 1.35% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 3 | $7.8M | 0.02% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 3 | $6.0M | 0.07% |
| EMBX VanEck Emerging Markets Bond ETF | 2026-06-30 | 2 | $2.1M | 0.86% |
| EMHC State Street(R) SPDR(R) Bloomberg Emerging Markets USD Bond ETF | 2026-06-30 | 3 | $1.9M | 0.71% |
| EMBD Global X Emerging Markets Bond ETF | 2026-05-31 | 4 | $1.6M | 0.61% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 4 | $1.3M | 0.00% |
| XAGG Eaton Vance Income Opportunities ETF | 2026-06-30 | 2 | $982K | 0.08% |
| JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 2026-05-31 | 2 | $901K | 1.40% |
| SIO Touchstone ETF Trust-Touchstone Strategic Income ETF | 2026-06-30 | 3 | $708K | 0.26% |
| ISTB iShares Core 1-5 Year USD Bond ETF | 2026-07-31 | 1 | $688K | 0.01% |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.