Government debt, % of GDP (2025)
48.8 %
Owed abroad by the government, US$ billion (2024)
25.6
Largest creditor: Bondholders, % of foreign public debt
36.1 %
Owed to China, % of foreign public debt
7.2 %
Source: World Bank, International Debt Statistics. Last checked 24 October 2026.
View the data as a table
| Period | Ghana | Middle African country |
|---|---|---|
| 2010 | 32.9 | 32.1 |
| 2011 | 31.2 | 28.4 |
| 2012 | 35.5 | 26.4 |
| 2013 | 42.9 | 31.1 |
| 2014 | 50.1 | 36.4 |
| 2015 | 53.9 | 44.1 |
| 2016 | 55.9 | 45.9 |
| 2017 | 57.0 | 48.0 |
| 2018 | 62.0 | 49.2 |
| 2019 | 62.9 | 53.9 |
| 2020 | 79.1 | 56.7 |
| 2021 | 86.9 | 57.2 |
| 2022 | 92.7 | 59.5 |
| 2023 | 79.1 | 60.9 |
| 2024 | 70.1 | 56.8 |
| 2025 | 48.8 | 53.2 |
| 2026 | 51.7 (partial) | 52.5 (partial) |
| 2027 | 50.8 (partial) | 54.2 (partial) |
| 2028 | 49.7 (partial) | 53.0 (partial) |
| 2029 | 49.0 (partial) | 53.1 (partial) |
| 2030 | 48.1 (partial) | 51.7 (partial) |
| 2031 | 47.3 (partial) | 50.7 (partial) |
Source: International Monetary Fund, World Economic Outlook. Last checked 24 October 2026.
View the data as a table
| Part | Value | Share |
|---|---|---|
| Bondholders | 36.1 % | 36% |
| Other governments | 32.6 % | 33% |
| Development banks and funds | 31.3 % | 31% |
Source: World Bank, International Debt Statistics. Last checked 24 October 2026.
View the data as a table
| Period | Bondholders | World Bank-IDA | China | African Development Bank | Germany |
|---|---|---|---|---|---|
| 2010 | Not published | 1,868 | 593 | 473 | 159 |
| 2011 | Not published | 2,267 | 819 | 593 | 241 |
| 2012 | Not published | 2,523 | 1,418 | 747 | 255 |
| 2013 | 1,000 | 2,832 | 2,132 | 816 | 269 |
| 2014 | 2,000 | 2,946 | 2,370 | 839 | 263 |
| 2015 | 3,000 | 3,285 | 2,422 | 931 | 250 |
| 2016 | 3,750 | 3,415 | 2,247 | 958 | 238 |
| 2017 | 3,750 | 3,945 | 1,995 | 1,078 | 263 |
| 2018 | 4,978 | 3,926 | 1,789 | 1,094 | 255 |
| 2019 | 7,695 | 3,989 | 1,822 | 1,159 | 246 |
| 2020 | 10,215 | 4,477 | 1,763 | 1,229 | 452 |
| 2021 | 13,120 | 4,663 | 1,860 | 1,248 | 932 |
| 2022 | 13,104 | 4,747 | 1,875 | 1,222 | 931 |
| 2023 | 13,104 | 5,393 | 1,852 | 1,219 | 1,072 |
| 2024 | 9,236 | 6,373 | 1,855 | 1,213 | 1,087 |
Source: World Bank, International Debt Statistics. Last checked 24 October 2026.
Where Ghana ranks in Africa
- Government debt to GDP: 35th highest of 53.
- Total external debt in dollars: 11th largest of 49.
- Compare Ghana's debt with its neighbours on the data wall
More on Ghana
Method and sources
Debt to GDP is the IMF's general government gross debt, which covers domestic and foreign debt of every level of government. Debt owed abroad by the government and debt it guarantees. Excludes IMF credit and private debt that is not guaranteed. WLD is the total. Creditor names are the World Bank's. Figures checked 24 October 2026.
IMF government debt data · World Bank International Debt Statistics
Frequently asked questions
How much does Ghana owe?
Ghana government and the debt it guarantees owed $25.6 billion to foreign lenders in 2024, according to the World Bank's International Debt Statistics. Counting domestic debt too, government debt was 48.8% of GDP in 2025, according to the IMF.
Who is Ghana's largest creditor?
Bondholders, the investors who hold its foreign bonds, owed $9.2 billion in 2024, 36.1% of the government's foreign debt. Next: World Bank-IDA (24.9%), China (7.2%) and African Development Bank (4.7%).
How much does Ghana owe China?
$1.9 billion in 2024, 7.2% of public debt owed abroad, which makes China its 3rd largest creditor.
What is Ghana's debt to GDP ratio?
48.8% in 2025: general government gross debt as a share of GDP, from the IMF World Economic Outlook. That is the 35th highest of 53 African countries with a figure.