Ghana recorded a Government Debt to GDP of 70.50 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Ghana Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Ghana External Debt: % of GDP

• Ghana External Debt accounted for 37.4 % of the country's Nominal GDP in 2023, compared with the ratio of 39.1 % in the previous year.
• Ghana External Debt: % of Nominal GDP data is updated yearly, available from Dec 1999 to Dec 2023.
• The data reached an all-time high of 121.7 % in Dec 2000 and a record low of 7.0 % in Dec 2006.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and quarterly Nominal GDP. The Bank of Ghana provides External Debt in USD based on BPM5. Ghana Statistical Service provides Nominal GDP in local currency based on SNA 2008. The Bank of Ghana average market exchange rate is used for currency conversions. External Debt figures only include Public debt. External Debt as % of Nominal GDP prior to 2006 is calculated from Nominal GDP sourced from the World Bank.


Related information about Ghana External Debt: % of GDP

• In the latest reports of Ghana, Current Account recorded a surplus of 1.4 USD bn in Dec 2024.
• Foreign Direct Investment (FDI) increased by 380.3 USD mn in Mar 2024.
• Ghana Direct Investment Abroad fell by 4.7 USD mn in Mar 2024.
• Its Foreign Portfolio Investment fell by 308.1 USD mn in Dec 2021.
• The country's External Debt reached 27,908.7 in Oct 2024.
• The country's Nominal GDP was reported at 21.2 USD bn in Dec 2024.

Ghana: Government debt as percent of GDP: The latest value from 2023 is 82.94 percent, a decline from 92.69 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Ghana from 1990 to 2023 is 47.77 percent. The minimum value, 18.51 percent, was reached in 2006 while the maximum of 92.69 percent was recorded in 2022.

Ghana GH: General Government: Gross Debt: % of GDP data was reported at 60.700 % in 2023. This records a decrease from the previous number of 62.630 % for 2022. Ghana GH: General Government: Gross Debt: % of GDP data is updated yearly, averaging 61.665 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 111.945 % in 2000 and a record low of 26.216 % in 2006. Ghana GH: General Government: Gross Debt: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Ghana – Table GH.IMF.FM: Government Finance Statistics.

Outstanding international public debt securities to GDP (%) in Ghana was reported at 22.98 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Ghana - Outstanding international public debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

International debt issues to GDP (%) in Ghana was reported at 22.98 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Ghana - International debt issues to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on May of 2025.

Gross portfolio debt liabilities to GDP (%) in Ghana was reported at 1.5022 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Ghana - Gross portfolio debt liabilities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Ghana GH: General Government: Net Debt: % of GDP data was reported at 56.741 % in 2023. This records a decrease from the previous number of 58.227 % for 2022. Ghana GH: General Government: Net Debt: % of GDP data is updated yearly, averaging 58.227 % from Dec 2001 (Median) to 2023, with 23 observations. The data reached an all-time high of 84.383 % in 2001 and a record low of 21.923 % in 2006. Ghana GH: General Government: Net Debt: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Ghana – Table GH.IMF.FM: Government Finance Statistics.

Key information about Ghana External Debt

• Ghana External Debt reached 27.9 USD bn in Oct 2024, compared with 32.0 USD bn in the previous month.
• Ghana External Debt: USD mn data is updated monthly, available from Jan 2012 to Oct 2024.
• The data reached an all-time high of 32.0 USD bn in Sep 2024 and a record low of 7.5 USD bn in Aug 2012.

The Bank of Ghana provides monthly External Debt in USD. External Debt covers Public sector only.


Related information about Ghana External Debt

• In the latest reports of Ghana, Current Account recorded a surplus of 998.5 USD mn in Jun 2024.
• Foreign Direct Investment (FDI) increased by 380.3 USD mn in Mar 2024.
• Ghana Direct Investment Abroad fell by 4.7 USD mn in Mar 2024.
• Its Foreign Portfolio Investment fell by 308.1 USD mn in Dec 2021.
• The country's Nominal GDP was reported at 17.8 USD bn in Sep 2024.

In 2021, the inflation rate in Ghana amounted to about 9.98 percent compared to the previous year. Ghana’s inflation peaked at almost 17.5 percent in 2016 and is predicted to decrease to 8 percent by 2030. Steady is best for inflationAccording to economists, a steady inflation rate between two and three percent is desirable to achieve a stable economy in a country. Inflation is the increase in the price level of consumer goods and services over a certain time period. A high inflation rate is often caused by excessive money supply and can turn into hyperinflation, i.e. if inflation occurs too quickly and rapidly, it can devalue currency and cause a recession and even economic collapse. This scenario is currently taking place in Venezuela , for example. The opposite of inflation, the decrease in the price level of goods and services below zero percent, is called deflation. While hyperinflation devalues money, deflation usually increases its value. Both events can damage an economy severely. Is Ghana’s economy at risk?Ghana’s economy is considered quite stable and fast-growing, and is rich in oil, diamonds, and gold. After struggling in the years around 2015 due to increased government spending and plummeting oil prices, it is now on an upswing again. This is also reflected in the decreasing inflation rate, and other key indicators like unemployment and rapid GDP growth support this theory. However, Ghana’s government debt is still struggling with the consequences of the 2015 crisis and forecast to keep skyrocketing during the next few years.

The Gross Domestic Product (GDP) in Ghana expanded 5.30 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Ghana GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.