Public debt increases to GH¢674.1 billion in February 2026 - BoG

The Bank of Ghana’s latest Summary of Economic and Financial Data report has revealed that Ghana’s total public debt stock increased to GH¢674.1 billion in February 2026.

According to reports, the country’s total debt in terms of dollar climbed to $63.1 billion in February 2026, compared to the $61.3 billion recorded in December 2025.

However, the report shows improvement in Ghana’s debt sustainability indicators, as the debt-to-GDP ratio declined from 44.7% in December 2025 to 42.2% in February 2026.

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However, domestic debt recorded an increase of GH¢341 billion in January 2026 compared to the GH¢360.4 billion recorded in February 2026. The figure represented 22.6% of GDP.

The continuous increase in domestic borrowing highlights government’s reliance on the local debt market to fund its budget and sustain economic activities.

External debt, however, remained relatively stable at $29.3 billion, accounting for 19.6% of GDP during the review period.

The report also pointed to improvements in the country’s fiscal position.

Ghana recorded a fiscal deficit-to-GDP ratio of 0.3% in March 2026, while the primary balance posted a surplus equivalent to 1.2% of GDP.

This is believed to decline the debt-to-GDP ratio and also improve primary balance to enhance investor confidence the state retain macroeconomic stability.

ANAS/AE

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