The IMF’s April 2024 Fiscal Monitor indicates Ghana’s Debt-to-GDP ratio will consistently decrease until 2029.
Projections, as per a Joy Business report, foresee the ratio dropping to 69.7% by 2029, with estimates for preceding years: 83.6% in 2024, 80.9% in 2025, 77.9% in 2026, 74.9% in 2027, and 72.0% in 2028.
Earlier IMF assessments highlighted Ghana’s improving fiscal economy, attributed to government policies focusing on stability, sustainability, and inclusive growth, as noted by Stephane Roudet, Mission Chief for Ghana.
Roudet emphasized the government’s commitment to fiscal discipline, evidenced by improvements in the fiscal primary balance and expansion of social protection programs.
Ghana also met non-oil revenue mobilization targets and implemented structural fiscal reforms to bolster domestic revenues and enhance transparency.
Moreover, Ghana secured a Memorandum of Understanding (MoU) from bilateral creditors on debt restructuring, aiming to alleviate financial burdens and save costs alongside domestic debt restructuring efforts.