IMF predicts decline in Ghana's debt-to-GDP ratio over next six years

The latest April 2024 Fiscal Monitor from the International Monetary Fund (IMF) indicates a consistent decrease in Ghana’s Debt-to-Gross Domestic Product (GDP) ratio until 2029.

According to a Joy Business report, projections reveal a drop to 69.7% by that year, with estimates for 2024 at 83.6%, followed by 80.9% in 2025, 77.9% in 2026, 74.9% in 2027, and 72.0% in

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Earlier assessments by the IMF underscored Ghana’s improving fiscal economy. Stephane Roudet, Mission Chief for Ghana, highlighted positive outcomes resulting from government policies and reforms aimed at restoring macroeconomic stability and debt sustainability, while fostering stronger and more inclusive growth.

Roudet emphasized the government's commitment to fiscal discipline, evidenced by improvements in the fiscal primary balance and the expansion of social protection programs. Ghana has also met its non-oil revenue mobilization targets and implemented structural fiscal reforms to bolster domestic revenues and enhance transparency.

Additionally, Ghana has secured a Memorandum of Understanding (MoU) from bilateral creditors on debt restructuring, following successful negotiations. This, alongside domestic debt restructuring, aims to alleviate financial burdens and save costs for the country.