Ghana External Debt
Total external debt stocks DT.DOD.DECT.CD
Ghana's external debt was $38.7B in 2025, ranked 37th globally. This represents a 3.5% increase from 2024. Data from World Bank, covering 1970–2025.
Overview
Ghana's external debt stood at $38.7B in 2025, a rise of +$1.3B from 2024. Based on recent trends, this figure is projected to reach $38.7B by 2025. Ghana ranked 37th globally.
Ghana's external debt has experienced significant fluctuations over the past 56 years, with the latest figure standing at 38,726,897,604.96 as of 2025, ranking 37th globally. The country's debt has peaked at 46,584,318,739.80 in 2021 and reached a trough of 542,386,913.40 in 1971, showcasing a stark contrast between these two eras. In comparison, neighboring countries such as Tanzania and Mongolia also face substantial external debt burdens, with Tanzania ranking 34th and Mongolia 36th globally. Notably, Ghana's external debt has decreased from its peak, but the country still faces significant challenges in managing its debt. A sustained increase in foreign investment, particularly in the extractive industries, could potentially alter the trajectory of Ghana's external debt, allowing the country to make significant strides in reducing its debt burden and increasing its economic resilience.
Data & projection
| Year | External Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $36.6B | - | - |
| 2026* trend | $37.7B | - | - |
| 2025* trend | $38.7B | - | - |
| 2025 | $38.7B | +$1.3B | #37 |
| 2024 | $37.4B | −$4.3B | #83 |
| 2023 | $41.7B | −$1.9B | #86 |
| 2022 | $43.6B | −$3.0B | #90 |
| 2021 | $46.6B | +$6.3B | #94 |
| 2020 | $40.3B | +$7.6B | #90 |
| 2019 | $32.7B | −$2.4B | #87 |
| 2018 | $35.1B | +$1.4B | #91 |
| 2017 | $33.7B | −$1.1B | #92 |
| 2016 | $34.9B | +$3.6B | #92 |
| 2015 | $31.3B | +$2.8B | #93 |
| 2014 | $28.5B | +$8.7M | #90 |
| 2013 | $28.5B | +$5.4B | #90 |
| 2012 | $23.2B | +$1.8B | #90 |
| 2011 | $21.3B | +$3.3B | #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 improve within 24 months. View full analysis →
Frequently Asked Questions
Ghana's external debt was $38.7B in 2025. Ranked 37th globally. This represents a 3.5% increase from the previous year.
Ghana's external debt peaked at $46.6B in 2021.
The lowest external debt in Ghana was $542.4M in 1971.
Ghana ranks 37th globally in external debt as of 2025.
The World Bank indicator code is DT.DOD.DECT.CD. Data sourced from World Bank.
Ghana's external debt is projected to reach $38.7B by 2025 based on trend extrapolation.
Ghana's external debt was approximately 38.73 billion ($38.7B) in 2025.
The external debt of Ghana in 2025 was $38.7B. This ranks 37th in the world.
Cite this page
@misc{historysaid_ghana_external-debt,
title = {Ghana External Debt},
url = {https://historysaid.com/ghana/external-debt/},
publisher = {HistorySaid},
year = {2026}
}