Ghana's public debt stock has seen a decline, falling to GH¢736.0 billion in November 2024 from GH¢761.0 billion in October 2024, according to the latest data from the Bank of Ghana's January 2025 Summary of Economic and Financial Data.
This reduction represents a 3.3
percent decrease within a month and reflects efforts to stabilise the country’s
fiscal outlook. The decline in the public debt stock has been attributed to
adjustments in external and domestic debt levels during the period under
review.
The data reveals that Ghana's external
debt fell to GH¢425.3 billion in November 2024 from GH¢453.7 billion in October
2024. Similarly, domestic debt also saw a slight decrease, dropping from GH¢307.3
billion to GH¢311.7 billion over the same period.
The report also shows that the public
debt stock as a percentage of GDP declined to 72.2 percent in November 2024,
down from 74.6 percent in October 2024. This marks an improvement in Ghana's
debt sustainability metrics, which had previously reached concerning levels due
to the country’s fiscal challenges.
Ghana’s government remains committed
to fiscal consolidation, with various measures in place to reduce debt and
improve revenue mobilisation. The drop in the debt stock provides some relief
as the country works to stabilise its economy and regain investor confidence.
Source :
graphiconline