Ghana's public debt – Adomonline.com https://www.adomonline.com Your comprehensive news portal Wed, 17 Sep 2025 09:07:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.adomonline.com/wp-content/uploads/2019/03/cropped-Adomonline140-32x32.png Ghana's public debt – Adomonline.com https://www.adomonline.com 32 32 Ghana’s public debt hits GH¢628.8bn in July 2025 – BoG https://www.adomonline.com/ghanas-public-debt-hits-gh%c2%a2628-8bn-in-july-2025-bog/ Wed, 17 Sep 2025 09:07:03 +0000 https://www.adomonline.com/?p=2579362 Ghana’s public debt stock rose by GH¢15.8 billion in July 2025, reaching GH¢628.8 billion, according to new data from the Bank of Ghana.

This represents approximately 44.9% of Gross Domestic Product (GDP).

In dollar terms, the debt stood at $59.9 billion, slightly higher than the $59.4 billion recorded in June 2025.

Between March and June 2025, the country’s debt stock declined sharply by GH¢156.4 billion. The Bank of Ghana’s data showed that total public debt stood at GH¢769.4 billion in March, GH¢730.3 billion in April, and GH¢612.1 billion in May, before settling at GH¢613 billion in June. This was largely attributed to the strong appreciation of the cedi against the dollar.

The July figures also showed that external debt closed at US$29.0 billion, compared to US$29.1 billion in June, representing 21.8% of GDP.

On the domestic front, debt rose to GH¢323.7 billion in July from GH¢312.7 billion in June, accounting for about 23.1% of GDP.

Meanwhile, fiscal operations data showed that the fiscal deficit-to-GDP ratio stood at 1.4% in July 2025, while the primary balance remained in surplus at 0.7% of GDP.

Source: Joy Business

 

]]> Ghana’s public debt hits GH¢742bn from GH₵658.6bn – Amin Adam https://www.adomonline.com/ghanas-public-debt-hits-gh%c2%a2742bn-from-gh%e2%82%b5658-6bn-amin-adam/ Tue, 23 Jul 2024 19:13:23 +0000 https://www.adomonline.com/?p=2425014

The Finance Minister, Dr. Mohammed Amin Adam, has revealed that as of June this year, the provisional total debt of the central government amounted to GH¢742 billion (US$50.9 billion).

This figure corresponds to 70.6 percent of the Gross Domestic Product (GDP).

While delivering the 2024 mid-year budget review in parliament in Accra on Tuesday, Dr Adam stated, “This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and continuous disbursements from creditors.”

He further explained, “The stock consists of external debt of GH¢452.0 billion and domestic debt of GH¢290.0 billion, representing 60.9 percent and 39.1 percent of the total debt stock, respectively.

“As a percentage of GDP, external and domestic debt represented 43.0 percent and 27.6 percent, respectively.”

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]]> Ghana’s public debt hits ¢391bn as of quarter 1, 2022 https://www.adomonline.com/ghanas-public-debt-hits-%c2%a2391bn-as-of-quarter-1-2022/ Sat, 21 May 2022 11:48:40 +0000 https://www.adomonline.com/?p=2116879 Ghana’s public debt stock remarkably shot up by ¢40.1 billion to ¢391.9 billion as of the end of March, 2022, the Summary of Economic and Financial Data by the Bank of Ghana has revealed.

The increase in the debt is due to largely exchange rate fluctuation and to some extent borrowings from the domestic market.

In the first quarter of 2022, the cedi assumed a free fall to the dollar, but its depreciation was halted in April 2022, following monetary measures by the Bank of Ghana.

However, in relation to the Gross Domestic Product of the country, the debt was estimated at 78%. This is slightly lower than the 80% recorded in December 2021.

According to the figures, the debt inched up by ¢20.5 billion in January 2022 and subsequently ¢19.7 billion in February 2022.

In terms of the domestic debt, it went up by ¢8 billion in the first quarter of 2022 to ¢189.9 billion in March 2021. This is equivalent to 37.8% of GDP.

Also, the external component of the total public debt shot up to $28.4 billion (¢201.9 billion) in March 2022, from $28.1 billion in December 2021. From the figures, clearly one can deduce that there were no borrowings from the external front in the first quarter of this year.

The debt-to-GDP ratio of the external debt is however approximately 40.2% of GDP.

The cedi component shot up by ¢31.9 billion in the first three months of 2022, primarily due to the decline in the value of the cedi to dollar during the period.

On the other hand, the financial sector resolution bond went down to ¢14.6 billion in March 2022, from ¢14.9 billion recorded in December 2021. This is equivalent to 2.9% of GDP.

IMF forecasts Ghana’s debt-to-GDP ratio of 84.6% in 2022

The International Monetary Fund (IMF) had in its April 2022 Fiscal Monitor predicted Ghana’s debt to Gross Domestic Product (GDP) ratio of 84.6% in 2022.

According to the Fund, the country’s total debt was estimated at 81.8% of GDP in 2021, higher than the 80.1%, approximately ¢351.8 billion quoted by the Bank of Ghana.

The Fund also said the country’s debt-to-GDP ratio will increase from 2022 to 88.4% in 2026, before falling to 87.4% in 2027.

But prior to that it will record relatively same debt-to-GDP ratio of 84% in 2022 and 2023, and later surge to 85% and 86% in 2024 and 2025 respectively.

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