Ghana’s Public Debt Rises to GH¢674.1 Billion in February 2026
Bank of Ghana data shows the country’s debt stock increased to US$63.1 billion, while the debt-to-GDP ratio declined to 42.2%.
- Ghana’s total public debt reached GH¢674.1 billion by February 2026.
- Domestic debt rose significantly to GH¢360.4 billion, accounting for 22.6% of GDP.
- The country recorded a fiscal deficit of 0.3% of GDP and a primary surplus of 1.2% in March 2026.
Ghana’s total public debt rose to GH¢674.1 billion by the end of February 2026, according to the latest Summary of Economic and Financial Data released by the Bank of Ghana.
The figure represents 42.2% of the country’s Gross Domestic Product (GDP). In dollar terms, Ghana’s debt stock stood at US$63.1 billion during the same period.
The data showed an increase from December 2025, when the debt stood at GH¢641.1 billion (US$61.3 billion), and from January 2026, when it reached GH¢663.4 billion (US$60.6 billion).
Despite the rise in nominal debt, the debt-to-GDP ratio declined from 44.7% in December 2025 to 42.2% in February 2026.
External debt remained relatively stable at US$29.3 billion in February 2026, slightly lower than the US$29.4 billion recorded in previous months. This accounted for 19.6% of GDP.
Domestic debt, however, recorded a noticeable increase. It climbed to GH¢360.4 billion in February 2026 from GH¢341.0 billion in January, representing 22.6% of GDP.
In December 2025, domestic debt stood at GH¢333.8 billion.
The report also provided updates on Ghana’s fiscal performance. It indicated that the fiscal deficit-to-GDP ratio stood at 0.3% in March 2026, while the primary balance recorded a surplus of 1.2% of GDP during the same period.
