Ghana’s public debt stock has declined to GH¢736.0 billion in November 2024, down from GH¢761.0 billion in October 2024, according to the Bank of Ghana’s January 2025 Summary of Economic and Financial Data.
This 3.3 percent reduction within a month highlights ongoing efforts to stabilise the country’s fiscal outlook. The decline in public debt has been attributed to adjustments in both external and domestic debt levels during the period under review.
The data shows that Ghana’s external debt dropped from GH¢453.7 billion in October 2024 to GH¢425.3 billion in November 2024. Likewise, domestic debt recorded a slight decrease, falling to GH¢307.3 billion from GH¢311.7 billion over the same period.
The report further indicates that the public debt stock as a percentage of GDP improved, declining from 74.6 percent in October 2024 to 72.2 percent in November 2024.
This reflects progress in Ghana’s debt sustainability metrics, which had previously been under pressure due to significant fiscal challenges.
The government remains committed to fiscal consolidation through measures aimed at reducing debt and enhancing revenue mobilisation.
The drop in debt stock offers some relief as Ghana continues efforts to stabilize its economy and boost investor confidence.
Source: www.kumasimail.com
