Total debt service in Ghana
Ghana: Total debt service was 3.5% in 2024. ◆ Volatile
Total debt service in Ghana, 1970–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of GNI.
Analysis
Ghana recorded 3.5% for total debt service in 2024.
The figure is down 30.6% on the previous year and down 29.5% over ten years.
Over the whole period, total debt service in Ghana peaked at 14.3% in 2019 and was at its lowest, 1.1%, in 1973.
Ghana ranks 67th of 122 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Total debt service in Ghana, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1970 | 2.4% | — |
| 1971 | 2.4% | +1.3% |
| 1972 | 1.6% | -34.6% |
| 1973 | 1.1% | -30.6% |
| 1974 | 1.1% | +5.4% |
| 1975 | 2.1% | +82.3% |
| 1976 | 1.9% | -9.2% |
| 1977 | 1.2% | -36.9% |
| 1978 | 2.0% | +69.6% |
| 1979 | 2.6% | +27.8% |
| 1980 | 3.6% | +39.0% |
| 1981 | 2.8% | -21.6% |
| 1982 | 2.8% | -2.0% |
| 1983 | 3.6% | +30.9% |
| 1984 | 3.0% | -15.7% |
| 1985 | 3.6% | +18.3% |
| 1986 | 4.1% | +12.8% |
| 1987 | 8.4% | +106.9% |
| 1988 | 10.8% | +28.1% |
| 1989 | 8.8% | -17.9% |
| 1990 | 6.4% | -27.9% |
| 1991 | 4.7% | -27.0% |
| 1992 | 5.1% | +8.7% |
| 1993 | 5.3% | +4.1% |
| 1994 | 6.9% | +31.4% |
| 1995 | 6.4% | -7.3% |
| 1996 | 7.1% | +10.9% |
| 1997 | 8.3% | +16.4% |
| 1998 | 7.9% | -4.0% |
| 1999 | 7.0% | -12.3% |
| 2000 | 9.7% | +38.8% |
| 2001 | 6.0% | -38.0% |
| 2002 | 3.7% | -38.7% |
| 2003 | 6.7% | +82.8% |
| 2004 | 3.2% | -52.5% |
| 2005 | 3.3% | +3.9% |
| 2006 | 1.6% | -51.7% |
| 2007 | 1.2% | -25.0% |
| 2008 | 1.1% | -8.7% |
| 2009 | 1.4% | +25.1% |
| 2010 | 1.5% | +7.7% |
| 2011 | 1.4% | -7.8% |
| 2012 | 2.4% | +79.6% |
| 2013 | 1.4% | -42.3% |
| 2014 | 5.0% | +251.4% |
| 2015 | 2.6% | -47.7% |
| 2016 | 8.5% | +229.4% |
| 2017 | 11.1% | +29.5% |
| 2018 | 6.9% | -38.0% |
| 2019 | 14.3% | +108.4% |
| 2020 | 4.4% | -69.5% |
| 2021 | 4.4% | +1.0% |
| 2022 | 8.5% | +93.2% |
| 2023 | 5.0% | -40.7% |
| 2024 | 3.5% | -30.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.8% | 1.1% | 2.6% | 10 |
| 1980s | 5.2% | 2.8% | 10.8% | 10 |
| 1990s | 6.5% | 4.7% | 8.3% | 10 |
| 2000s | 3.8% | 1.1% | 9.7% | 10 |
| 2010s | 5.5% | 1.4% | 14.3% | 10 |
| 2020s | 5.2% | 3.5% | 8.5% | 5 |
Countries ranked near Ghana
- 64 Saint Vincent and the Grenadines 3.8% compare
- 65 Mexico 3.8% compare
- 66 Thailand 3.5% compare
- 68 Philippines 3.5% compare
- 69 Zimbabwe 3.4% compare
- 70 Bolivia, Plurinational State of 3.4% compare
More economy & growth data for Ghana
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.15 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5 Percent per annum (2029)
- Manufacturing, value added (current US$), per unit of GDP 0.1011 current US$ per US$ of GDP (2025)
- Manufacturing, value added (current US$), per capita 329.19 current US$ per person (2025)
- Manufacturing, value added (current LCU), per unit of GDP 1.27 current LCU per US$ of GDP (2025)
- Manufacturing, value added (current LCU), per capita 4,134 current LCU per person (2025)
- Manufacturing, value added (constant 2015 US$), per unit of GDP 0.0752 constant 2015 US$ per US$ of GDP (2025)
- Manufacturing, value added (constant 2015 US$), per capita 244.78 constant 2015 US$ per person (2025)
- Manufacturing, value added (constant LCU), per capita 649.98 constant LCU per person (2025)
- Industry (including construction), value added (current US$), annual 37.37 % change on previous year (2025)
Frequently asked questions
- What is total debt service in Ghana?
- Total debt service in Ghana was 3.5% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest total debt service recorded in Ghana?
- The highest recorded value was 14.3% in 2019.
- What is the lowest total debt service recorded in Ghana?
- The lowest recorded value was 1.1% in 1973.
- How does Ghana rank for total debt service?
- Ghana ranks 67th out of 122 countries with data for 2024.
- Is total debt service rising or falling in Ghana?
- Over the last ten years it is down 29.5%. The long-run trend across the full record is volatile.
- Where does this Ghana data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of Total debt service (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Total debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF.