According to the Summary of Financial and Economic Data by the Bank of Ghana, the country’s public debt has been increasing since January 2026.
The report indicates that ghana’s public debt hit GH¢720.8 billion in May 2026, equivalent to 45.1% of Gross Domestic Product (GDP).
It further notes that in dollar term, the public debt stock stood at US$61.5 billion.
According to the July 2026 Summary of Financial and Economic Data by the Bank of Ghana, the country’s public debt has been increasing since January 2026.
It stood at GH¢663.4 billion in January 2026 and rose to GH¢674.1 billion in February 2026 and subsequently to GH¢686.1 billion in March 2026. Again, it increased to GH¢695.9 billion in April 2026.
The rising debt is due to increased borrowing on both the domestic and external front.
The data showed that the external debt stood at US$29.1 billion in May, slightly lower than the US$29.2 billion in April 2026. This represented 21.4% of GDP.
In March 2026, the external debt stood at US$29.1 billion
However, the domestic debt increased to GH¢379.1 billion in May 2026, from GH¢369.2 billion in April 2026, about 23.7% of GDP.
In March 2026, the domestic debt stood at GH¢365.8 billion, whilst it was estimated at GH¢360.4 billion in February 2026 and GH¢341.0 billion.
For the government’s fiscal operations, the fiscal balance-to-GDP was a surplus of 0.1% in March 2026.
The primary balance, however, stood at a surplus of 1.1% of GDP in March 2026.
