The New Patriotic Party (NPP) has expressed concern that Ghana’s growing borrowing could make it harder for the country to meet its debt reduction goals.
Speaking before the 2026 Mid-Year Budget Review, the Ranking Member of Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, urged the government to clearly explain the country’s current debt situation and address differences in the figures being reported by various institutions.
According to him, the Bank of Ghana and the International Monetary Fund (IMF) are presenting different debt projections, making it important for the Finance Minister to provide one clear and reliable debt figure.
He noted that the Bank of Ghana currently places the country’s debt at about 45 percent of Gross Domestic Product (GDP), while the IMF expects it to rise to around 53 percent before the end of the year.
Mr. Oppong Nkrumah warned that if the government continues to borrow at the current pace, Ghana could struggle to achieve its debt target under the IMF-supported programme.
He explained that the country is expected to reduce its debt-to-GDP ratio to about 55 percent by the end of 2028, but increasing debt could make that goal difficult to reach.
He therefore called on the Finance Minister to present a comprehensive debt sustainability report during the Mid-Year Budget Review.
He said the report should clearly show that the country’s efforts to reduce its debt burden and the sacrifices made by Ghanaians are producing meaningful results.
Mr. Oppong Nkrumah also raised concerns about the government’s planned rebasing of Ghana’s GDP.
He asked the Finance Minister to explain how the new GDP figures would affect the country’s debt calculations and to be transparent about the method used to determine the debt-to-GDP ratio.
