Ghana’s Public Debt Rises To GH¢769.4Bn In March 2025

Ghana’s total public debt increased by GH¢42.7 billion in the first quarter of 2025, reaching GH¢769.4 billion in March 2025, the Bank of Ghana revealed in its May 2025 Summary of Financial and Economic Data.

The country’s total public debt stood at GH¢752.1 billion and GH¢768.1 billion in January and February 2025, respectively.

In dollar terms, the total debt stock was estimated at US$49.5 billion in March 2025, about US$100 million higher than in December 2024.

According to the report, Ghana’s total debt is equivalent to 55% of Gross Domestic Product (GDP). The expansion of the economy contributed to a reduction in the debt-to-GDP ratio.

External debt stood at US$28.5 billion in March 2025, slightly higher than the US$28.3 billion recorded in December 2024, representing 28.5% of GDP.

The increase in debt in March 2025 was partly due to the depreciation of the cedi during the period.

Domestic debt also rose to GH¢326.9 billion in March 2025 from GH¢309.5 billion in December 2024, representing about 23.4% of GDP. In January and February 2025, domestic debt stood at GH¢320.1 billion and GH¢328.0 billion, respectively.

Regarding fiscal operations, the fiscal deficit-to-GDP ratio stood at 1.0% in March 2025, reflecting relatively low government spending. The primary balance recorded a surplus of 0.3% of GDP in the same period.

Meanwhile, Ghana’s economy was valued at GH¢1.4 trillion as of March 2025.

Source: Myjoyonline