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Ghana Debt to GDP Ratio

Ghana's government debt to GDP ratio decreased to 70.5% in 2024, the lowest since 2019. This followed a ratio of 76.4% in 2023. The reduction is attributed to a Eurobond haircut and strong GDP growth of 5.7% in 2024. Ghana's record low debt to GDP was 53.9% in 2015 and record high was 85.7% in 2022.

Yearly Historical Data (2015-2024)

(in %)
Year Debt to GDP Ratio
2024 70.5%
2023 76.4%
2022 85.7%
2021 79.2%
2020 72.3%
2019 58.3%
2018 62%
2017 57%
2016 55.9%
2015 53.9%
Ghana Debt to GDP Ratio : Definition
Ghana's government debt to GDP ratio compares the nation's total public debt including domestic and external liabilities, to its Gross Domestic Product. This ratio shows the debt burden relative to the size of Ghana's economy, expressed as a percentage.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio 4.4% 1.4% Dec'24
Interest Rate 21.5% 25% Sep'25
Private Credit (% GDP) 9.45% 13.29% 2023