BoG: Ghana’s debt stock hits GH¢628.8bn, equals 44.9% of GDP
By DL news
Published
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The updated figure translates to 44.9% of Gross Domestic Product (GDP). Measured in dollars, the debt position reached $59.9 billion, edging up from $59.4 billion recorded in June
Fresh data from the Bank of Ghana has revealed that Ghana’s public debt climbed to GH¢628.8 billion in July 2025, marking an increase of GH¢15.8 billion compared to the previous month.
The updated figure translates to 44.9% of Gross Domestic Product (GDP). Measured in dollars, the debt position reached $59.9 billion, edging up from $59.4 billion recorded in June.
From March through June 2025, the debt stock experienced significant fluctuations, dropping by GH¢156.4 billion over the period. The Bank of Ghana’s data shows that total liabilities were GH¢769.4 billion in March, fell to GH¢730.3 billion in April, slid further to GH¢612.1 billion in May, and closed at GH¢613 billion in June.
The decline during this stretch was largely attributed to the sharp appreciation of the cedi against the US dollar.
External obligations in July stood at $29.0 billion, almost unchanged from the $29.1 billion level in June. This represents 21.8% of GDP. On the domestic side, debt rose to GH¢323.7 billion in July, up from GH¢312.7 billion the month before, equating to 23.1% of GDP.
On fiscal operations, the Bank reported that the deficit-to-GDP ratio was 1.4% in July 2025. At the same time, the primary balance showed a surplus of 0.7% of GDP, maintaining the same level as the previous month.
