Ghana External Debt to GNI
External debt stocks as % of GNI DT.DOD.DECT.GN.ZS
Ghana's external debt to gni was 48.36% in 2025, ranked 48th globally. This represents a 3.1% increase from 2024. Data from World Bank, covering 1970–2025.
Overview
Ghana's external debt to gni stood at 48.36% in 2025, a rise of +1.44pp from 2024. Based on recent trends, this figure is projected to reach 48.36% by 2025. Ghana ranked 48th globally.
Ghana’s external debt to gross national income stood at 48.36 % in 2025, placing the country 48th in the world and closely flanked by Burkina Faso (48.54 %) and Tanzania (48.28 %). The ratio has risen sharply from its earliest recorded level of 26.35 % in 1970, after a brief trough of 22.86 % in 1971, before soaring to an all‑time peak of 139.44 % at the turn of the millennium. The post‑2000 decline reflects a combination of debt restructuring, fiscal consolidation and stronger export earnings, yet the current level remains well above the long‑run average for the 56‑year series. Continued improvements in fiscal discipline, diversification of export markets and prudent borrowing could further lower the debt burden, while external shocks such as commodity price volatility or tighter global financing conditions would likely reverse the downward trajectory.
Data & projection
| Year | External Debt to GNI | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 43.31% | - | - |
| 2026* trend | 45.84% | - | - |
| 2025* trend | 48.36% | - | - |
| 2025 | 48.36% | +1.44pp | #48 |
| 2024 | 46.92% | −8.38pp | #64 |
| 2023 | 55.30% | −4.73pp | #76 |
| 2022 | 60.02% | −0.41pp | #80 |
| 2021 | 60.44% | +3.48pp | #74 |
| 2020 | 56.96% | +7.09pp | #68 |
| 2019 | 49.87% | −4.78pp | #69 |
| 2018 | 54.65% | −4.10pp | #74 |
| 2017 | 58.74% | −5.88pp | #81 |
| 2016 | 64.63% | −0.66pp | #85 |
| 2015 | 65.29% | +10.26pp | #89 |
| 2014 | 55.03% | +8.37pp | #83 |
| 2013 | 46.66% | −12.43pp | #79 |
| 2012 | 59.10% | +3.16pp | #87 |
| 2011 | 55.93% | −0.87pp | #88 |
Detected Pattern
Analysis
Ghana matched the Currency Crisis Pattern pattern in 2023. Historically, 27% of countries showing this pattern (35 out of 128) saw external debt to gni improve within 24 months. View full analysis →
Frequently Asked Questions
Ghana's external debt to gni was 48.36% in 2025. Ranked 48th globally. This represents a 3.1% increase from the previous year.
Ghana's external debt to gni peaked at 139.44% in 2000.
The lowest external debt to gni in Ghana was 22.86% in 1971.
Ghana ranks 48th globally in external debt to gni as of 2025.
The World Bank indicator code is DT.DOD.DECT.GN.ZS. Data sourced from World Bank.
Ghana's external debt to gni is projected to reach 48.36% by 2025 based on trend extrapolation.
The external debt to gni of Ghana in 2025 was 48.36%. This ranks 48th in the world.
Cite this page
@misc{historysaid_ghana_external-debt-to-gni,
title = {Ghana External Debt to GNI},
url = {https://historysaid.com/ghana/external-debt-to-gni/},
publisher = {HistorySaid},
year = {2026}
}