Ghana’s public debt stock has seen a decline, falling to GH¢736.0 billion in November 2024 from GH¢761.0 billion in October 2024, according to the latest data from the Bank of Ghana’s January 2025 Summary of Economic and Financial Data.
This reduction represents a 3.3 percent decrease within a month and reflects efforts to stabilize the country’s fiscal outlook.
The decline in the public debt stock has been attributed to adjustments in both external and domestic debt levels during the period under review.
The data reveals that Ghana’s external debt fell to GH¢425.3 billion in November 2024 from GH¢453.7 billion in October 2024.
Similarly, domestic debt also saw a slight decrease, dropping from GH¢311.7 billion to GH¢307.3 billion over the same period.
The report also shows that the public debt stock as a percentage of GDP declined to 72.2 percent in November 2024, down from 74.6 percent in October 2024. This marks an improvement in Ghana’s debt sustainability metrics, which had previously reached concerning levels due to the country’s fiscal challenges.
Ghana’s government remains committed to fiscal consolidation, with various measures in place to reduce debt and improve revenue mobilization.
The drop in the debt stock provides some relief as the country works to stabilize its economy and regain investor confidence.
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