Ghana’s public debt stock increased by GH¢13.1 billion between May and July 2026, rising from GH¢720.8 billion to GH¢733.9 billion, the Bank of Ghana’s latest economic and financial data show.
The rise followed a slight dip in June, when total public debt stood at GH¢719.5 billion, before climbing sharply to GH¢733.9 billion in July.
In dollar terms the debt stock remained relatively stable, moving from US$61.5 billion in May to US$63.4 billion in June, before easing to US$62.8 billion in July.
Domestic debt grew from GH¢379.1 billion in May to GH¢396.7 billion in July, an increase of GH¢17.6 billion over the two‑month period. External debt, by contrast, fell marginally in both cedi and dollar terms.
These figures place total public debt at about 45.9 % of GDP, with domestic debt accounting for roughly 24.8 % of GDP.
The movement reflects a mix of government prioritising fiscal obligations and efforts to contain debt accumulation, yet raises questions about whether the uptick in domestic borrowing is temporary or signals renewed financing pressures.
