Understanding Ghana’s Debt-to-GDP Ratio: Repayment, Restructuring and Valuation

Explains changes in Ghana’s debt-to-GDP ratio by separating borrowing, repayment, restructuring, exchange-rate valuation and GDP growth. The report connects exact accounting decompositions with instrument-level evidence, debt-service requirements and financing scenarios, helping readers assess what a lower ratio does—and does not—say about payment capacity.

131 pages · 2.16 MB · English

About this report

Author: Dr. Felix Larry Essilfie
Publisher: Institute of Development and Economic Research (IDER)
Publication date: September 2026
Evidence cut-off: 2026-09-26
Reference period: Annual records: 2021–2025; monitoring: June 2026. IMF projections: 2026–2031. Instrument validation: end-2025 register.
Series: IDER’s Ghana Macroeconomic Policy and Business Intelligence Briefings

What the report covers

Matched annual debt and GDP evidence, with separate real-growth, price and exchange-rate contributions.
Borrowing, repayment, restructuring and instrument-level checks across debt stocks and reported service.
Debt-service, refinancing and Treasury cash scenarios, with source projections kept distinct from observations.

Read the evidence in context

Exact accounting does not identify causal policy effects or certify future payment capacity. Source projections and illustrative scenarios remain separate; the report is not a World Bank or IMF publication.

The report’s original source definitions, assumptions and limitations govern its interpretation. References to other institutions do not imply their endorsement.

Discuss the implications

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