Total reserves (% of total external debt) in Ghana
Ghana: Total reserves (% of total external debt) was 19.0% in 2024. ▲ Rising
Total reserves in Ghana, 1971–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of total external debt.
Analysis
Ghana recorded 19.0% for total reserves in 2024.
The figure is up 82.2% on the previous year and down 2.5% over ten years.
Over the whole period, total reserves in Ghana peaked at 37.4% in 2006 and was at its lowest, 4.6%, in 2000.
That places Ghana 86th out of 112 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 54 years of available data.
Total reserves (% of total external debt) in Ghana, year by year
| Year | % of total external debt | Change |
|---|---|---|
| 1971 | 7.9% | — |
| 1972 | 17.3% | +117.6% |
| 1973 | 25.7% | +48.4% |
| 1974 | 13.9% | -45.9% |
| 1975 | 20.4% | +47.1% |
| 1976 | 15.9% | -21.9% |
| 1977 | 17.0% | +6.8% |
| 1978 | 25.5% | +50.1% |
| 1979 | 31.3% | +22.5% |
| 1980 | 23.6% | -24.7% |
| 1981 | 17.4% | -26.0% |
| 1982 | 21.2% | +21.4% |
| 1983 | 17.5% | -17.4% |
| 1984 | 22.3% | +27.4% |
| 1985 | 24.5% | +9.9% |
| 1986 | 22.6% | -7.8% |
| 1987 | 10.0% | -55.6% |
| 1988 | 9.9% | -1.0% |
| 1989 | 12.8% | +29.3% |
| 1990 | 8.0% | -37.8% |
| 1991 | 14.7% | +84.6% |
| 1992 | 9.1% | -37.9% |
| 1993 | 10.6% | +15.9% |
| 1994 | 12.6% | +19.1% |
| 1995 | 13.5% | +7.5% |
| 1996 | 14.4% | +6.6% |
| 1997 | 9.7% | -32.6% |
| 1998 | 6.6% | -32.7% |
| 1999 | 7.5% | +14.9% |
| 2000 | 4.6% | -39.1% |
| 2001 | 5.5% | +19.6% |
| 2002 | 8.3% | +51.9% |
| 2003 | 17.7% | +112.7% |
| 2004 | 24.2% | +36.4% |
| 2005 | 23.4% | -2.9% |
| 2006 | 37.4% | +59.7% |
| 2007 | 26.7% | -28.7% |
| 2008 | 20.0% | -25.0% |
| 2009 | 28.5% | +42.2% |
| 2010 | 28.7% | +0.7% |
| 2011 | 27.7% | -3.3% |
| 2012 | 25.2% | -9.1% |
| 2013 | 19.6% | -22.2% |
| 2014 | 19.5% | -0.5% |
| 2015 | 18.3% | -6.0% |
| 2016 | 16.8% | -8.3% |
| 2017 | 20.8% | +23.6% |
| 2018 | 17.9% | -13.8% |
| 2019 | 23.1% | +29.0% |
| 2020 | 19.6% | -15.4% |
| 2021 | 21.3% | +8.8% |
| 2022 | 11.5% | -46.1% |
| 2023 | 10.4% | -9.0% |
| 2024 | 19.0% | +82.2% |
Ghana compared with similar countries
- Ghana's 19.0% is below the median for lower middle income countries, which is 37.2%, 51% of the median. (39 countries reporting)
- Ghana's 19.0% is below the median for Sub-Saharan Africa, which is 23.9%, 80% of the median. (36 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 19.4% | 7.9% | 31.3% | 9 |
| 1980s | 18.2% | 9.9% | 24.5% | 10 |
| 1990s | 10.7% | 6.6% | 14.7% | 10 |
| 2000s | 19.6% | 4.6% | 37.4% | 10 |
| 2010s | 21.8% | 16.8% | 28.7% | 10 |
| 2020s | 16.4% | 10.4% | 21.3% | 5 |
Countries ranked near Ghana
- 83 Bangladesh 20.5% compare
- 84 Malawi 20.1% compare
- 85 Montenegro 19.9% compare
- 87 Sierra Leone 18.6% compare
- 88 Rwanda 18.4% compare
- 89 Sao Tome and Principe 18.0% compare
More financial sector data for Ghana
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 3.61 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 2.64 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 3.61 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is total reserves in Ghana?
- Total reserves in Ghana was 19.0% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest total reserves recorded in Ghana?
- The highest recorded value was 37.4% in 2006.
- What is the lowest total reserves recorded in Ghana?
- The lowest recorded value was 4.6% in 2000.
- How does Ghana rank for total reserves?
- Ghana ranks 86th out of 112 countries with data for 2024.
- Is total reserves rising or falling in Ghana?
- Over the last ten years it is down 2.5%. The long-run trend across the full record is rising.
- Where does this Ghana data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of Total reserves (% of total external debt). Statizoid updates them automatically from the source API.
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About this data
Reserve assets are external assets, including monetary gold, that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be denominated and settled in foreign currency. This indicator is expressed as a percentage of total external debt which are all liabilities that require payment(s) of interest and/or principal by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy.