Ghana’s Public Debt rises to GH¢674.1 Billion in February 2026
Ghana’s total public debt stock increased to GH¢674.1 billion as of February 2026, representing 42.2 percent of the country’s Gross Domestic Product (GDP).
In dollar terms, the debt stock stood at US$63.1 billion during the period.
This was disclosed in the Bank of Ghana’s May 2026 Summary of Economic and Financial Data.
According to the report, Ghana’s public debt stood at US$61.3 billion, equivalent to GH¢641.1 billion, in December 2025 before rising to US$60.6 billion, or GH¢663.4 billion, in January 2026.
Despite the increase in the nominal debt stock, the debt-to-GDP ratio declined from 44.7 percent in December 2025 to 42.2 percent in February 2026.
The data further showed that the country’s external debt stood at US$29.3 billion in February 2026, slightly lower than the US$29.4 billion recorded in January 2026.
External debt accounted for 19.6 percent of GDP during the review period.
Meanwhile, domestic debt increased significantly to GH¢360.4 billion in February 2026 from GH¢341.0 billion in January 2026.
The domestic debt component represented 22.6 percent of GDP.
In December 2025, domestic debt stood at GH¢333.8 billion.
On fiscal operations, the Bank of Ghana data indicated that the fiscal deficit-to-GDP ratio stood at 0.3 percent in March 2026.
The primary balance, however, recorded a surplus of 1.2 percent of GDP during the same period.
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