Ghana's Public Debt Inches Up to $49.5bn Despite Cedi's Strong Performance

Accra, Ghana - 23 May, 2025 - Ghana's public debt has edged up slightly to $49.5 billion as of March 2025, according to the Bank of Ghana's latest data.

This marginal increase from $49.4 billion in February 2025 is notable, especially given the local currency's recent strong performance against major trading currencies. In cedi terms, the debt stands at GH₵769.4 billion, representing 55% of the country's Gross Domestic Product (GDP).

A closer look at the debt composition reveals a slight increase in the external debt component, while the domestic debt decreased from GH₵328 billion to GH₵326.9 billion. This decline could be attributed to the government's cautious approach to treasury bill issuances.

Meanwhile, the Ghanaian cedi has made significant gains against major currencies, surging to its strongest level in recent years.

According to the Bank of Ghana's data, the cedi has appreciated by 24.1% against the US dollar, 16.2% against the British Pound, and 14.1% against the Euro. As of May 2025, the cedi is trading at GH₵11.85 to the dollar, GH₵15.84 to the Pound, and GH₵13.34 to the Euro.

Source: Lead News Online