National Debt (% of GDP): Ghana

Analysis# Ghana National Debt (% of GDP) Ghana's national debt stood at 56.1% of GDP in 2026, down substantially from its catastrophic peak of 92.7% in 2022. The current level remains significantly elevated compared to the country's all-time low of 17.3% in 1991, representing a 215.2% increase over the 36-year period. Ghana's debt trajectory reflects decades of fiscal expansion followed by acute crisis conditions in the early 2020s. The sharp deterioration between 2020 and 2022 marked the critical turning point, with debt surging from 79.1% to 92.7% amid external pressures and domestic economic challenges. Since 2022, however, Ghana has achieved consistent debt reduction, declining 36.6 percentage points over four years. The forecasted trajectory through 2026 suggests continued improvement, positioning the country on a stabilizing path after years of fiscal strain.