Ghana to Spend Over $8.7bn on External Debt Servicing in Next Four Years – Finance Minister Says
Ghana will need to allocate more than $8.7 billion to service its external debt over the next four years, Finance Minister Dr. Cassiel Ato Forson has disclosed.
Presenting the 2025 budget, Dr. Forson further revealed that the government would require approximately GHS 150.3 billion ($12.2 billion) to meet domestic debt servicing obligations over the next three years.
The mounting debt repayments, he noted, follow the recent domestic and external debt restructuring programme undertaken by the previous administration as part of efforts to restore fiscal stability. He reiterated the current government’s commitment to completing the restructuring process to alleviate pressure on public finances.
“The economy remains in distress, but we are resolute in our efforts to restore stability and chart a path toward long-term growth,” Dr. Forson stated.
The budget announcement comes as Ghana continues negotiations with bilateral and commercial creditors following its default in 2022, with debt sustainability remaining a key pillar of the government’s economic recovery strategy.
