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Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, has announced a major reduction in the country’s public debt, describing it as one of the most significant declines in Ghana’s economic history.
Presenting the 2026 Budget Statement to Parliament on Thursday, November 13, 2025, Dr. Forson revealed that total public debt had fallen from GHS726.7 billion in 2024—representing 61.8% of GDP—to GHS630.2 billion, equivalent to 45% of GDP by October 2025.
“For the first time in over a decade, we have recorded a negative rate in debt accumulation—from a positive 19.1 percent in 2024 to a negative 13.3 percent in 2025,” the Finance Minister stated.
He attributed the decline to fiscal discipline, prudent borrowing, and a stronger cedi, noting that these measures have placed Ghana’s debt profile on a sustainable and downward trajectory.
