The International Monetary Fund (IMF) has projected that Ghana’s debt-to-GDP ratio will reach 59.1 percent by the end of 2025.
The forecast, contained in the October 2025 Fiscal Monitor Report, was released during the IMF/World Bank Annual Meetings in Washington, D.C.
According to the report, the projection is slightly lower than the government’s 60 percent target for the same period. The IMF further expects Ghana’s debt ratio to decline to 56.1 percent in 2026, 53.7 percent in 2027, and 51.3 percent in 2028, suggesting that by 2028, the country will outperform the 55 percent debt-to-GDP benchmark set under the Extended Credit Facility (ECF) Programme.
In its World Economic Outlook released on October 14, 2025, the IMF also forecasted that global economic growth will slow from 3.3 percent in 2024 to 3.2 percent in 2025, and further to 3.1 percent in 2026, despite a slight upward revision from its April projections.
The Fund noted that the global economy is being reshaped by new policy measures and trade dynamics, with some temporary boosts expected from fresh trade agreements and tariff adjustments introduced in early 2025.
“Advanced economies are expected to expand by about 1.5 percent, while emerging markets and developing economies will grow just above 4 percent, reflecting resilient domestic demand in Asia and parts of Latin America,” the IMF stated.
It added that global inflation is projected to continue easing, though it remains above target in the United States and subdued in several other regions.
By Ebenezer K. Amponsah