The International Monetary Fund (IMF) has projected Ghana's public debt stock to hit 81.5% of GDP by the end of the year 2021.
What this means is that, by the end of 2021 Ghana's public debt will rise beyond GHS 300 billion, according to the April 2021 fiscal monitor report of the IMF.
According to the IMF data, Ghana, a low-income developing country, debt to GDP is expected to rise to 83.2%, 84.8%, 86.0% and 86.6% in 2022, 2023, 2024 and 2025 respectively.
There will be a slight decline in 2026 with 85.5%.
Majority of the country's revenue will be used to service debt which will mean that Ghana is likely to reach a highly debt distress category.
Per the projections by IMF, Ghana will only be performing better than Zambia and Congo Republic in Sub-Saharan Africa. These two countries are projected to record highly unsustainable debt levels.
Oil-producing countries are estimated at 35.2% of GDP averagely in 2021 and Sub-Saharan Africa's GDP is projected at 47.2% of GDP.