Ghana’s public debt has decreased to GH¢761 billion as of October 2024, marking a reduction of GH¢46.8 billion from the GH¢807.8 billion recorded in September 2024. This new figure represents 74.6% of the country’s Gross Domestic Product (GDP).
In dollar terms, the total debt stock stands at approximately US$46.8 billion, down from US$51 billion the previous month. The data, released by the Bank of Ghana in its Summary of Economic and Financial Data for November 2024, indicates a modest decline in public debt, reflecting ongoing efforts to manage the rising debt burden amid significant economic pressures.
The government has implemented various fiscal measures aimed at stabilizing the economy and improving debt sustainability. Despite the challenges, this decrease is seen as a positive step towards alleviating fiscal pressures and enhancing economic stability in Ghana.
