Ghana’s public debt rises to GH¢769.4bn in March 2025

Ghana's total public debt increased by GH¢42.7 billion in early 2025. It reached GH¢769.4 billion by March 2024, according to the Bank of Ghana.

In January 2025, the debt was GH¢752.1 billion. By February, it rose to GH¢768.1 billion.

In dollar terms, the total debt was about US$49.5 billion in March 2025. This is GH¢100 million more than in December 2024.

The report states that Ghana's total debt is 55% of its Gross Domestic Product (GDP). The economy's growth led to a decrease in the GDP ratio of the debt.

External debt was US$28.5 billion in March 2025, up from US$28.3 billion in December 2024. This accounts for 28.5% of GDP.

The increase in debt during this period resulted from cedi depreciation. Domestic debt also rose to GH¢326.9 billion from GH¢309.5 billion, making up about 23.4% of GDP.

In January and February 2025, domestic debt figures were GH¢320.1 billion and GH¢328.0 billion, respectively.

For fiscal operations, the deficit-to-GDP ratio was at 1% in March 2025, indicating low government spending.

However, there was a primary balance surplus of 0.3% of GDP during this time.

As of March 2025, Ghana’s economy was valued at GH¢1.4 trillion.