When evaluating sovereign risk, enforcement mechanisms typically represent a significant downside scenario. However, Ghana presents a notably different profile.

The country operates as a signatory to the New York Convention, establishing a formal legal framework for arbitration enforcement. Beyond this institutional commitment, Ghana maintains a track record of regulatory compliance that has proven relatively consistent. More importantly, the nation has demonstrated willingness to honor adverse arbitral awards—either through direct payment or negotiated settlements rather than outright defaults.

From a practical standpoint, Ghana's foreign assets remain subject to offshore attachment proceedings, which substantially reduces the traditional enforcement risk that haunts many emerging market sovereigns. This combination of legal obligations, historical compliance behavior, and asset vulnerability creates a markedly lower default probability compared to peers facing similar external pressures.