Dr. Bannor Warns Against Misleading Narrative on Ghana’s Ballooning Public Debt
A development economist, Dr. Frank Bannor, has challenged the idea that Ghana’s recent roughly GH¢71 billion jump in public debt is just because the cedi lost value, noting that the local currency also weakened in 2022 but debt only went up by about GH¢67 billion then, which means things like heavy borrowing inside the country could be playing a big part too. Official data show Ghana’s public debt rose by around GH¢71.6 billion in the third quarter of 2025 to about GH¢684.6 billion, and if the cedi keeps sliding the total might go over GH¢700 billion by year’s end. Dr. Bannor says it’s misleading to pin all of the increase on the currency’s movement and that other causes deserve attention.
