"IMF Projects 60% Debt-to-GDP for Ghana at End-2025"

" IMF Projects 60% Debt-to-GDP for Ghana at End-2025 \r\n\r\nCommunications Director of the International Monetary Fund (IMF), Julie Kozack, says Ghana\u2019s recent debt restructuring agreements have led to a significant improvement in debt service indicators, creating room for economic recovery and investment inflows.\r\n\r\nResponding to a question posed by NorvanReports during a press briefing on Thursday, September 11, 2025, Ms Kozack disclosed that public debt is projected to fall sharply from 82% of GDP in 2022 to around 60% by end-2025.\r\n\r\n\u201cThat is a fairly steep reduction in public debt and marks a significant step toward durably restoring fiscal sustainability. To make this stick, Ghana will need to continue on the path of reform. Reforms such as boosting domestic revenue, strengthening public financial management to ensure expenditure efficiency, and maintaining fiscal discipline are essential to lock in the recent gains,\u201d she stressed.\r\n\r\nFinance Minister, Dr Cassiel Ato Forson, during the 2025 Mid-Year Budget Review, noted that Ghana\u2019s public debt stock has fallen sharply from GHS 726.7 billion at end-December 2024 to GHS 613 billion in June 2025 \u2014 a reduction of GHS 113.7 billion within six months.\r\n\r\nThe decline represents a negative debt accumulation rate of 15.6%. Dr Forson attributed the drop to government\u2019s fiscal discipline, prudent debt management, and a stronger cedi, noting that the debt-to-GDP ratio had improved from 61.8% in December 2024 to 43.8% in June 2025 \u2014 an 18 percentage point improvement.\r\n\r\nOn July 7, the IMF Executive Board completed the fourth review of Ghana\u2019s $3 billion Extended Credit Facility (ECF) programme, disbursing $367 million and bringing total support to $2.3 billion since May 2023.\r\n\r\nAccording to Ms Kozack, Ghana\u2019s macroeconomic situation is showing signs of resilience, with growth outperforming expectations and the external position improving.\r\n\r\nShe further noted that the new administration has taken bold measures \u2014 including enacting a strong budget, tightening monetary policy, implementing public financial management reforms, and adjusting electricity tariffs \u2014 while continuing to make progress with debt restructuring efforts."

"IMF Projects 60% Debt-to-GDP for Ghana at End-2025"

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