IMF Forecasts Ghana’s Public Debt to Fall to 60% of GDP by End-2025 Amid Debt Restructuring

Ghana’s public debt is projected to drop sharply to about 60% of Gross Domestic Product (GDP) by the end of 2025, according to the International Monetary Fund (IMF). The Washington-based lender attributes this improvement to the country’s ongoing debt restructuring programme, which has significantly eased the burden on the national budget and restored investor confidence.

Speaking at a press briefing in Washington, D.C., on September 11, 2025, IMF Director of Communications Julie Kozack said the restructuring “has significantly improved debt service indicators for Ghana.” She described the reduction as a “meaningful step” toward restoring fiscal stability and laying the groundwork for an economic rebound.

The IMF believes this new debt trajectory opens space for critical investment inflows, job creation, and stronger growth over the medium term. Economists note that easing the public debt burden could help free up funds for health, education, and infrastructure, areas that ordinary Ghanaians directly feel.

Recent figures from the Bank of Ghana show the trend already underway. As of June 2025, the country’s total debt stock stood at GH¢613 billion, representing 43.8% of GDP, reflecting the impact of policy adjustments and tighter fiscal discipline by the new administration.

The IMF cautions that sustaining these gains will require continued reforms. Mrs. Kozack emphasized the need to “boost domestic revenue, strengthen public financial management, and maintain fiscal discipline.” Ghana’s government has already rolled out a strong budget, tightened monetary policy, implemented public finance reforms, and adjusted electricity tariffs — measures it says are critical to achieving lasting debt sustainability.

source: citi newsroom