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MacroGhana

Government debt in Ghana

How indebted is the state my taxes would go to?

Ghana's government debt is 48.80 % — #52 of 124 countries on the atlas (lower is better). Period 2025.

48.80%

Checked 8 Sept 2026Period 2025

Source: IMF World Economic Outlook (general government gross debt, % of GDP)

The central government owes about 0.5 years' worth of the country's entire economic output.

Government debt in Ghana over time

92.70 %55.00 %17.30 %92.70 % · 202217.30 % · 19911990: 17.80 %1991: 17.30 %1992: 21.30 %1993: 34.10 %1994: 50.60 %1995: 47.60 %1996: 42.90 %1997: 45.20 %1998: 37.60 %1999: 51.70 %2000: 74.50 %2001: 57.80 %2002: 54.10 %2003: 49.30 %2004: 38.40 %2005: 31.70 %2006: 17.30 %2007: 21.10 %2008: 23.20 %2009: 25.40 %2010: 32.90 %2011: 31.20 %2012: 35.50 %2013: 42.90 %2014: 50.10 %2015: 53.90 %2016: 55.90 %2017: 57.00 %2018: 62.00 %2019: 62.90 %2020: 79.10 %2021: 86.90 %2022: 92.70 %2023: 79.10 %2024: 70.30 %2025: 48.80 %19902008202548.80 %
36 official observations, 1990 → 2025. Every point is a published value — never interpolated.
Rank
#52 of 124
lower is better
Ranked behind
58 %
72 of 124 countries
Latest move
▼ 21.50 pp
since 2024
Below its peak
43.90 pp
peak 92.70 % in 2022
Full series
▲ 31.00 pp
since 1990

In Africa: #6 of 20vs median 54.55 %: −5.75 pp (better)

Among 124 countries

5 of 124 countries between 12.30 % and 17.86 %4 of 124 countries between 17.86 % and 23.42 %9 of 124 countries between 23.42 % and 28.97 %9 of 124 countries between 28.97 % and 34.53 %9 of 124 countries between 34.53 % and 40.09 %11 of 124 countries between 40.09 % and 45.65 %8 of 124 countries between 45.65 % and 51.21 %11 of 124 countries between 51.21 % and 56.77 %8 of 124 countries between 56.77 % and 62.32 %7 of 124 countries between 62.32 % and 67.88 %6 of 124 countries between 67.88 % and 73.44 %5 of 124 countries between 73.44 % and 79.00 %6 of 124 countries between 79.00 % and 84.56 %7 of 124 countries between 84.56 % and 90.12 %2 of 124 countries between 90.12 % and 95.67 %3 of 124 countries between 95.67 % and 101.23 %4 of 124 countries between 101.23 % and 106.79 %1 of 124 countries between 106.79 % and 112.35 %2 of 124 countries between 112.35 % and 117.91 %1 of 124 countries between 123.47 % and 129.02 %2 of 124 countries between 134.58 % and 140.14 %4 of 124 countries between 140.14 % and 145.70 %median 54.40 %Ghana: ahead of 58 % of the 124 countries with a published government debtGhana 48.80 %12.30 %145.70 %
Half of all 124 countries sit between 36.00 % and 80.30 %. Ghana is ahead of 58 % of them. Axis trimmed to the 2nd–98th percentile; 5 values beyond it sit in the end bars.

The neighbourhood

#CountryGovernment debtvs Ghana
50 Nepal48.10 %−0.70 pp
51 Madagascar48.70 %−0.10 pp
52 Ghana48.80 %—
53 Armenia49.00 %+0.20 pp
54 Tanzania49.70 %+0.90 pp

General government gross debt as a share of GDP (IMF World Economic Outlook, annual).

How to read this figure

Central government debt as a share of GDP (World Bank). General government debt (including local government and social funds) can be meaningfully higher; comparisons across countries are indicative.

Next, about Ghana

Debt per personGDP growthInflation rate
Government debt, all countries ranked →Compare Ghana with another country →Everything about Ghana →
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