The country's public debt, expressed in present value terms, was 103% of GDP in 2022, according to Mr. Ken Ofori-Atta, the Minister of Finance, as opposed to the debt sustainability ceiling of 55% for nations like Ghana with a medium level of debt-carrying capacity.

The Minister made the disclosure on the floor of Parliament when he briefed the House on Ghana’s Domestic Debt Exchange Programme (DDEP).

The Minister also informed the House that tax to GDP ratio for the same period was “just about 12.6%, woefully below the Sub-Saharan Africa average of 18% and insufficient enough to meet pressures on the public purse.”

Ken Ofori Atta Finance Statement to Parliament on Domestic Debt Exchange by The Independent Ghana on Scribd