Ghana’s total public debt stock as of July 2025 stood at GH¢628.8 billion, equivalent to $59.9 billion.

According to the Bank of Ghana's Summary of Macroeconomic and Financial Data for September, the country's debt increased by GH¢15.8 billion.

The increase is equivalent to 44.9% of the country's Gross Domestic Product (GDP).

It follows three consecutive months of declines, driven by the strong appreciation of the cedi.

Cedi trades at GH¢12.20 to $1 on interbank market

In June, the country's total debt stock stood at GH¢613 billion, equivalent to $59.4 billion, a decline from the March figure of GH¢769.4 billion.

For the debt components, external debt stood at GH¢305 billion ($29.0 billion) in July, representing 21.8% of GDP.

Domestic debt rose to GH¢323.7 billion, equivalent to 23.1% of GDP, up from GH¢312.7 billion in June.

Total revenue and grants form 8.3% of GDP, with domestic revenue and tax revenue forming 8.2% and 7.0% of GDP, respectively.

Ghana's debt stock increased due to the depreciation of the cedi against major trading currencies.

The figures also indicate the pressure from rising domestic borrowing.

SSD/SA

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