Ghana's debt burden has risen significantly over the past decade, reaching 82.9% of GDP in 2023 before declining to 61.8% by the end of 2024.
Despite this heavy borrowing, the country has not seen a proportional increase in investment, raising concerns about whether loans have been used productively or merely to finance recurrent expenditures.
At his Inaugural Lecture on March 13, 2025 at the Ghana Academy of Arts and Sciences, Professor Peter Quartey, Director of the Institute of Statistical, Social and Economic Research (ISSER), examined the link between debt, investment, and economic growth in Ghana.
He argued that while borrowing is a necessary tool for development, its effectiveness depends on strategic investment decisions.
