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Ghana's Central Government Debt (% of GDP), 1990-2022

Ghana's Central Government Debt (% of GDP), 1990-2022

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TGM StatBox. (2024). Ghana's Central Government Debt (% of GDP), 1990-2022. TGM StatBox.
Chart Details
Data Source: International Monetary Fund (IMF)
Timeframe: 1990-2022
Country: Ghana
Published date: 2024
Note: The Central Government Debt (Percent of GDP) by the International Monetary Fund (IMF) refers to the total debt owed by a country's central government as a percentage of its Gross Domestic Product (GDP).
Key Takeaways
Ghana experienced significant volatility in central government debt from 1990 to 2022. Debt levels surged from 24.15% in 1990 to a peak of 80.17% in 2000, driven by structural adjustments and external borrowing. Debt relief initiatives in the mid-2000s reduced the burden, reaching a low of 18.51% in 2006.

However, rising fiscal deficits and external shocks led to a renewed increase, with debt climbing to 88.77% by 2022. The economic strain from the COVID-19 pandemic and currency depreciation contributed to this steep rise.

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