Ghana’s Public Debt Falls to 49% of GDP in 2025 – World Bank

Ghana’s public debt declined sharply from 70.3% of Gross Domestic Product (GDP) in 2024 to 49% at the end of 2025, signalling significant progress in the country’s efforts to restore debt sustainability, according to the World Bank.

World Bank Division Director for Ghana, Liberia and Sierra Leone, Robert R. Taliercio*, said the substantial reduction in the debt-to-GDP ratio was among the key gains recorded under Ghana’s ongoing economic reform program.

Mr. Taliercio made the remarks in Accra at the launch of the World Bank’s Tenth Ghana Economic Update, which assesses developments in the Ghanaian economy and the country’s progress on its reform agenda.

According to him, the improvement in Ghana’s debt position, alongside gains recorded in the *fiscal and external sectors*, reflects the impact of difficult economic decisions taken to stabilise the economy.

The sharp decline in the debt-to-GDP ratio represents a major improvement in Ghana’s fiscal position after years of rising public debt and heightened concerns over the sustainability of government finances.

The development also comes as the government continues to implement measures aimed at restoring macroeconomic stability, strengthening public finances and rebuilding investor confidence.

While the reduction in the debt ratio marks significant progress, sustaining the gains will depend on continued fiscal discipline, prudent borrowing and measures to support economic growth.

The World Bank’s latest assessment therefore highlights the importance of maintaining the reform momentum as Ghana seeks to consolidate its economic recovery and put public finances on a more sustainable path.