Ghana’s public debt stock increased to GH¢674.1 billion as of February 2026.

This is equivalent to 42.2% of Gross Domestic Product (GDP).

In dollar term, the public debt stock stood at US$63.1 billion in February 2026.

According to the Bank of Ghana’s May 2026 Summary of Economic and Financial Data, the country’s debt stood at US$61.3 billion (GH¢641.1 billion) in December 2025 and US$60.6 billion (GH¢663.4 billion) in January 2026.

In December 2025, the debt to GDP ratio was however 44.7%.

The data showed that the external debt stood at US$29.3 billion in February 2026, slightly lower than the US$29.4 billion in January 2026 and US$29.4 billion in February 2026 respectively.  

This represents 19.6% of GDP.

However, the domestic debt increased to GH¢360.4 billion in February 2026, from GH¢341.0 billion in January 2026, about 22.6% of GDP.

In December 2026, the domestic debt stood at GH¢333.8 billion.

For the government’s fiscal operations, the fiscal deficit-to-GDP stood at 0.3 % in March 2026.

The primary balance, however, stood at a surplus of 1.2% of GDP in March 2026.