Finance Minister Dr. Cassiel Ato Forson says Ghana now spends less than 20% of its national revenue on servicing public debt, a significant reduction from about 50 percent in previous years.
Dr. Forson disclosed on Monday, August 24, 2026, during the signing of an agreement between Ghana and Belgium to restructure debt owed to Belgium’s export credit agency.
According to the Finance Minister, the high debt-servicing burden in the past left government with limited resources to finance critical areas such as schools, hospitals, roads and other infrastructure.
He said the reduction in debt-servicing costs has created greater fiscal space for government to invest in public infrastructure and social services that directly benefit Ghanaians.
Dr. Forson also said government is putting measures in place to prevent Ghana from returning to an unsustainable debt situation. He indicated that fiscal rules are being strengthened and will be enshrined in law to ensure future governments maintain fiscal discipline.
The latest development comes as Ghana continues its broader debt restructuring programme with bilateral and commercial creditors. Government has already reached restructuring agreements with several countries as it works to restore debt sustainability and strengthen the country’s public finances.
