Finance Minister Dr. Cassiel Ato Forson has revealed that Ghana’s total central government and guaranteed debt reached GH¢726.7 billion by the end of December 2024, up from GH¢610.0 billion in 2023. However, the country’s debt-to-GDP ratio declined from 68.7% in 2023 to 61.8% in 2024.
Ato Forson highlighted that one of the key factors contributing to the reduction was the 37% haircut on the principal of Ghana’s Eurobond debt, which was part of the broader debt restructuring programme. This initiative, he explained, has helped ease the country’s debt burden and stabilize the economy.
While providing an update on Ghana’s debt restructuring, Dr. Forson reassured Parliament that the government remains committed to implementing fiscal policies aimed at reducing the overall debt stock and improving debt sustainability.