Ghana Government gross debt in Ghana

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 53.0% 2027: 50.7% 2028: 48.1% 2029: 45.7% 2030: 44.0% 2031: 42.3%
51.7 (1999) ANUAL · % of GDP · Annual · CSV
Period% of GDP
Jan 1999 51.7
Jan 1998 37.6
Jan 1997 45.2
Jan 1996 42.9
Jan 1995 47.6
Jan 1994 50.6
Jan 1993 34.1
Jan 1992 21.3
Jan 1991 17.3
Jan 1990 17.8

About this indicator

Source
International Monetary Fund
Frequency
Annual
Release
Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.
What it is
Government gross debt is the total stock of liabilities owed by Ghana's general government to its creditors. It is expressed in absolute terms and, above all, as a percentage of GDP to assess sustainability.
How it's calculated
It totals general government liabilities (securities, loans and deposits), using data from the Finance Ministry and the Bank of Ghana alongside IMF estimates. The debt-to-GDP ratio sets that stock against the economy.
Market implications
Ghana went through a debt crisis in 2022-2023 that forced a restructuring and an IMF programme, so its level is a critical benchmark: it shapes market access, the stability of the cedi and rating assessments.
Limitations
It is a low-frequency figure revised with the national accounts. The ratio depends on both the debt stock and nominal GDP, and is highly sensitive to the cedi's sharp depreciation on the foreign-currency portion, which can lift the ratio without fresh issuance.