According to a recent report by Fitch, the agency anticipates that Ghana and Zambia will recover from their default on foreign currency debt in 2024, driven by gradual fiscal consolidation driven by fiscal reform efforts and constraints in financing. However, Fitch noted that consolidation is subject to potential delays in the debt restructuring process under the Common Framework. Fitch also noted that financing challenges will persist for most SSA sovereigns due to limited access to affordable international capital markets without credit enhancements. Multilateral funding is expected to continue as a vital support across the region, although downside risks remain.