Presidential Advisor on Economy warns of debt risks despite GDP growth milestone

Seth Terkper, Presidential Advisor on the Economy, has cautioned that Ghana’s recent GDP growth surpassing GHS 1 trillion does not guarantee debt sustainability, as structural weaknesses in public finance persist.

Speaking at Deloitte’s 2025 Budget Analysis Report launch, he attributed the growth to IMF-led fiscal corrections rather than homegrown policies.

Terkper warned that Ghana’s persistent debt burden and limited access to financial markets could hinder economic recovery. He recalled the HIPC debt relief but noted that Ghana has since defaulted again, shifting the burden to domestic investors. He emphasized the need for disciplined debt management, urging the government to tie borrowing to revenue-generating projects.

With 2025 budget revenues projected at GHS 224.9 billion, analysts stress that prudent fiscal policies are essential to restore investor confidence and ensure sustainable growth.