Ghana Debt Service
Total debt service as % of exports DT.TDS.DECT.EX.ZS
Ghana's debt service was 13.19% in 2025, ranked 51st globally. This represents a 39.7% increase from 2024. Data from World Bank, covering 1975–2025.
Overview
Ghana's debt service stood at 13.19% in 2025, a rise of +3.75% from 2024. Based on recent trends, this figure is projected to reach 13.19% by 2025. Ghana ranked 51st globally.
Ghana’s debt‑service burden has risen sharply from an early‑period level of 6.49 percent in 1975 to a peak of 56.92 percent in 1988, reflecting the severe external shocks and fiscal adjustments of the late 1980s. After a prolonged decline that reached an all‑time trough of 3.54 percent in 2011, the ratio has accelerated again, reaching 13.19 percent in 2025, ranking 51st globally. This recent level is comparable to the 13.17 percent recorded by Cabo Verde and the 13.88 percent of Belarus, underscoring a convergence among middle‑income economies facing similar financing constraints. The post‑trough increase coincides with higher external borrowing and tighter global financing conditions, suggesting that without stronger fiscal consolidation or debt‑restructuring measures, Ghana’s debt‑service ratio may continue to climb, potentially pressuring public finances and limiting growth prospects.
Data & projection
| Year | Debt Service | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 12.25% | - | - |
| 2026* trend | 12.72% | - | - |
| 2025* trend | 13.19% | - | - |
| 2025 | 13.19% | +3.75% | #51 |
| 2024 | 9.44% | −5.85% | #35 |
| 2023 | 15.28% | −6.84% | #68 |
| 2022 | 22.12% | +8.75% | #95 |
| 2021 | 13.37% | +0.63% | #53 |
| 2020 | 12.73% | −23.26% | #47 |
| 2019 | 36.00% | +16.90% | #106 |
| 2018 | 19.09% | −11.55% | #81 |
| 2017 | 30.65% | +4.60% | #104 |
| 2016 | 26.04% | +18.66% | #94 |
| 2015 | 7.38% | −9.34% | #42 |
| 2014 | 16.72% | +11.49% | #88 |
| 2013 | 5.23% | −0.45% | #43 |
| 2012 | 5.68% | +2.14% | #43 |
| 2011 | 3.54% | −1.38% | #31 |
Detected Pattern
Analysis
Ghana matched the Currency Crisis Pattern pattern in 2023. Historically, 27% of countries showing this pattern (35 out of 128) saw debt service improve within 24 months. View full analysis →
Frequently Asked Questions
Ghana's debt service was 13.19% in 2025. Ranked 51st globally. This represents a 39.7% increase from the previous year.
Ghana's debt service peaked at 56.92% in 1988.
The lowest debt service in Ghana was 3.54% in 2011.
Ghana ranks 51st globally in debt service as of 2025.
The World Bank indicator code is DT.TDS.DECT.EX.ZS. Data sourced from World Bank.
Ghana's debt service is projected to reach 13.19% by 2025 based on trend extrapolation.
The debt service of Ghana in 2025 was 13.19%. This ranks 51st in the world.
Cite this page
@misc{historysaid_ghana_debt-service,
title = {Ghana Debt Service},
url = {https://historysaid.com/ghana/debt-service/},
publisher = {HistorySaid},
year = {2026}
}