Ghana’s public debt falls by GH¢46.8bn to GH¢761.0bn in October 2024

Ghana’s public debt fell by GH¢46.8 billion in October 2024, totaling GH¢761.0 billion or $27.9 billion, equivalent to 74.6% of GDP, according to the Bank of Ghana.

The decline was primarily due to a GH¢52.6 billion reduction in external debt, now at GH¢453.7 billion or 44.5% of GDP. However, domestic debt increased to GH¢307.3 billion, representing 30.1% of GDP, driven by borrowing on the treasury market.

Compared to February 2024, domestic debt rose from GH¢275.8 billion.
Fiscal operations showed a deficit-to-GDP ratio of 3.9% by July 2024, while the primary balance recorded a 1.8% deficit in March 2024. Ghana’s economy was valued at GH¢1.020 trillion at the end of October 2024.