Ghana’s public debt stock rose by GH¢15.8 billion in July 2025 to GH¢628.8 billion, according to data by the Bank of Ghana.
This is approximately 44.9% of Gross Domestic Product (GDP).
In dollar term, the public debt stood at $59.9 billion, higher than the $59.4 billion recorded in June 2025.
Between March and June 2025, the country’s public debt stock fell by GH¢156.4 billion.
According to data from the Bank of Ghana, the country’s total public debt stood at GH¢769.4 billion in March 2025, GH¢730.3 billion in April 2025, and GH¢612.1 billion in May 2025, respectively. It then fell to GH¢613 billion in June 2025, as a result of the strong appreciation of the cedi against the dollar.
The data showed that the external debt stood at US$29.0 billion in July 2025, higher than the US$29.1 billion in June 2025. This represents 21.8% of GDP.
Also, the domestic debt increased to GH¢323.7 billion in July 2025, from GH¢312.7 billion in June 2025, about 23.1% of GDP.
For the government’s fiscal operations, the fiscal deficit-to-GDP stood at 1.4 % in July 2025.
The primary balance, however, remained at a surplus of 0.7% of GDP in July 2025.
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