Public Debt Drops by GHS 15.8 Billion to GHS 726.7 billion in December
Ghana’s public debt fell by GHS 15.8 billion in December 2024, dropping to GHS 726.7 billion from GHS 742.5 billion the previous month, according to the Bank of Ghana’s latest financial and economic data.
The decline is largely attributed to the government’s external debt restructuring programme, which has eased the country’s external debt burden.
In dollar terms, Ghana’s total public debt stood at $28.3 billion, or 35.4% of GDP, at the end of 2024—down from $30.3 billion a year earlier.
External debt had been estimated at $32.0 billion in both September and October before the restructuring efforts took effect.
However, domestic debt continued to rise, reaching GHS 311.7 billion, or 30.5% of GDP, driven by increased borrowing on the treasury market.
This represents a significant jump from GHS 275.8 billion in February 2024, underscoring the government’s reliance on domestic financing.
The central bank did not release fiscal data for August to December 2024, but government figures from July showed a budget deficit of 3.9% of GDP.
The country’s debt trajectory remains closely watched by investors amid ongoing efforts to restore fiscal stability.
