IMF expresses worry over continued build-up of SOEs liabilities; ECG accounts for GH¢71bn of liabilities

The SOE liabilities have accumulated at a faster pace, rising from GH¢35 billion (19% of GDP) in 2015 to GH¢282 billion (about 25% of GDP) in 2024.

The International Monetary Fund (IMF) has expressed worry about the continued build-up of liabilities across Ghana’s State-Owned Enterprises (SOEs) portfolio, with total aggregate liabilities reaching 25% of Gross Domestic Product (GDP).

The size of the SOE portfolio has broadly grown in line with the economy over the past decade, with total assets fluctuating around 34% of GDP and reaching GH¢395 billion in 2024.