BTA2023 Ghana’s public debt has seen a significant decline, reaching GH¢736.0 billion in November 2024 from GH¢761.0 billion in October 2024, according to the Bank of Ghana‘s latest Summary of Economic and Financial Data released in January 2025.
This represents a 3.3% reduction within just one month, highlighting ongoing efforts to improve the nation’s fiscal stability. The drop in debt levels is attributed to adjustments in both external and domestic borrowing during the review period.
The report reveals that external debt decreased from GH¢453.7 billion in October 2024 to GH¢425.3 billion in November 2024. Similarly, domestic debt saw a modest reduction, slipping to GH¢307.3 billion from GH¢311.7 billion.
Additionally, the debt-to-GDP ratio improved, declining to 72.2% in November 2024 compared to 74.6% the previous month. This improvement signals progress in addressing Ghana’s debt sustainability concerns, which had previously raised alarms due to persistent fiscal challenges.
The government remains focused on fiscal discipline, implementing strategies to curb debt accumulation and boost revenue collection. This decline in the debt stock is a positive sign for the economy, providing a sense of relief as Ghana strives to rebuild its financial stability and restore investor confidence.
