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Ghana

Republic of Ghana
West Africa•AU•Lower-Middle Income
POPULATION
34M
Public Debt / GDP
46%
2025
External Debt / GDP
20.7%
2025
Debt Svc / Revenue
10.5%
2025
Debt Svc / Exports
7.6%
2025
Interest / Revenue
7.6%
2025

Debt Composition & Creditor Analysis

External vs Domestic Debt

External
Debt
45%
Domestic
Debt
55%

By Creditor Type

Multilateral35%
Bilateral25%
Paris Club15%
Eurobond15%
Other Priv.10%

By Instrument Type

Bonds49.9%
Loans49.1%
Other15.8%

Average Lending Terms (External)

%
3%
Interest
⏱
16yr
Maturity
⏱
6yr
Grace
Active Restructuring

CAP Pillar 2: Debt Management Quality

Data Dissemination
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Debt Strategy (MTDS)
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Borrowing Plan
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Domestic Market Dev.
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Comprehensive Debt Analytics

Explore in-depth macroeconomic vulnerability, fiscal sustainability, and sovereign risk indicators for Ghana.

Vulnerability Indicator Explorer

Select an indicator to analyze Ghana's performance against international benchmarks.

46.0%
Current (2025)
+1.1 pp YoY
Within 70% target
Analysis

Ghana's public debt at 46.0% of GDP is below the 70% prudential benchmark, suggesting manageable indebtedness relative to the economy. This provides fiscal space for counter-cyclical spending and public investment.

The most widely used measure of overall indebtedness relative to economic activity. It reflects the government's solvency capability and long-term fiscal space.

Net Financial Flows

Disbursements (Inflows) vs Principal & Interest Repayments (Outflows).

Net Positive Flows

In 2025, Ghana received $7.9B in disbursements while repaying $2.5B — a net inflow of $5.4B. The country is receiving more resources than it is repaying, providing additional financing for development.

Profile of Maturing Debts (2025)

Breakdown of short-term (<1 year), medium-term (1-9 years) and long-term (10+ years) debt liabilities.

Short-Term (<1 yr)
$6.8B
12.9% of total
Medium-Term (1-9 yrs)
$17B
32.3% of total
Long-Term (10+ yrs)
$28.8B
54.8% of total
Analysis

With only 12.9% of debt maturing within one year, Ghana maintains a healthy maturity profile. The predominance of medium and long-term instruments ($45.8B) reduces refinancing pressure and provides greater fiscal predictability.