Ghana domestic debt reaches GH¢391bn in June 2026

Ghana's domestic debt stock reached GH¢391.115 billion by the end of June 2026, representing 24.5% of the nation's GDP. According to the Bank of Ghana's July 2026 Monetary Policy Report, the domestic debt increased by GH¢57 billion during the first six months of the year.

When including external obligations, Ghana's total public debt stands at GH¢719.520 billion, or 45.0% of GDP. This is an increase from the GH¢641.111 billion (44.7% of GDP) recorded in December 2025.

The growth in domestic debt is driven largely by short-term securities, which accounted for GH¢33.432 billion of the increase. Short-term instruments now comprise 41.0% of the total domestic debt stock. Medium-term and long-term securities contributed GH¢17.249 billion and GH¢6.763 billion, respectively. The Bank of Ghana noted that a strong investor appetite for 364-day treasury bills has continued to drive up short-term debt, even after restrictions on new loans from the Domestic Debt Exchange Programme expired in February 2026.