Ghana remained in the 4th position in Africa with the highest debt to the International Monetary Fund (IMF).
However, its debt to the Bretton Woods institution stood at Special Drawing Rights 2.72 billion, higher than the SDR 1.96 billion recorded in January 2026.
This is equivalent to US$3.88 billion.
The increase in the country’s indebtedness to the Fund is due to inflows received as a result of the Extended Credit Facility programme.
Egypt remained 1st in Africa with the highest debt to the IMF. It owed the Fund SDR $7.24 billion.
Côte d’Ivoire followed with SDR 3.60 billion.
Kenya (SDR 2.87 billion), Angola (SDR 2.493billion) and DR Congo were in, 3rd and 5th and 6th respectively.
The IMF on May 15, 2026, completed the 2026 Article IV Consultation and reached a Staff-Level Agreement with Ghana on the Sixth Review under the Extended Credit Facility Arrangement and on a 36-month Policy Coordination Instrument Request.
It commended the country for improvements in the debt trajectory, saying, it has created fiscal space to advance development objectives while preserving hard-won stabilisation gains.
However, it warned that this space is contingent on strong implementation of ambitious public financial management and structural reforms to mitigate risks associated with contingent liabilities.
Ghana ended 2025 with a total debt stock of GH¢641 billion, marking a marginal decline.
The debt-to-Gross Domestic Product (GDP) ratio slowed to 45.3%.
In 2024, the country’s total debt stock stood at GH¢726.7 billion, with a debt-to-GDP ratio of 61.8%.
