Ghana’s Debt Drops by GH₵150 Billion in 5 Months Amid Cedi Gains - Mahama

/ President Mahama attributes sharp reduction in Ghana's debt burden to currency appreciation and fiscal reforms, signaling progress toward debt sustainability.

০ Ghana’s total debt has dropped by nearly GH₵150 billion in just five months.

০ President Mahama credits cedi appreciation and strategic economic policies.

০ Government now targets 55%–58% debt sustainability by end of 2025.

০ Positive signs boost investor confidence and economic outlook.

President Mahama announces GH₵150 billion debt reduction, crediting cedi strength and
sound economic management.

President John Dramani Mahama has announced a significant reduction in Ghana’s total debt stock, revealing that the country's debt has dropped by almost GH₵150 billion within the last five months.

Speaking during the African Development Bank’s Annual Meeting in Abidjan, Mahama explained that this drop stems primarily from the cedi’s strong performance and the administration’s targeted fiscal and monetary interventions.

“We reduced our total debt over the last five months by almost GH₵150 billion,” the President stated.

The cedi’s appreciation against the US dollar and other global currencies has reduced the local value of Ghana’s external debt, helping to ease the country’s debt service burden.

President Mahama further noted that if the current economic trajectory continues, Ghana could meet its medium-term debt sustainability target sooner than expected.

“If that trajectory continues, the target of reaching 55% to 58% debt sustainability by 2028 will be reached by the end of this year,” he said.

This potential early attainment opens up fiscal space for investment in critical sectors such as agriculture, manufacturing, and infrastructure.

According to the President, the improved debt metrics have helped restore investor confidence and reduce pressure on public finances, allowing for more prudent and strategic spending.

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Financial analysts say this trend is a positive sign for Ghana’s economic trajectory, showing the country is on track toward macroeconomic recovery and long-term growth.

The Mahama administration has been implementing a series of structural reforms aimed at tackling inflation, enhancing domestic revenue mobilization, and managing public expenditure more efficiently.

These efforts have not gone unnoticed in the international community, with several observers lauding Ghana’s economic rebound amid global financial uncertainty.

President Mahama at the African Development Bank’s Annual Meeting.

President Mahama assured stakeholders that his government remains committed to responsible economic management and inclusive growth.

“We are committed to reforms that ensure lasting stability and prosperity,” he concluded.

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