2024 debt to GDP ratio has dropped to 61.8% – Gideon Boako

Ghana’s public debt-to-GDP ratio has dropped to 61.8% in 2024, a significant decline from the peak of 80.4% in 2020, according to Dr. Gideon Boako, MP for Tano North.

He attributes this reduction to the government's debt management strategy, which has improved debt sustainability.

Dr. Boako highlighted that this figure is below pre-COVID-19 levels (65.7%) and expressed confidence that Ghana could reach the IMF’s debt sustainability target of 55% before 2028 if the strategy continues.

He also alleged possible data manipulation in the upcoming 2025 budget presentation by Finance Minister Dr. Cassiel Ato Forson, urging transparency in economic reporting.