FinObservatory

Crisis atlas / GHA

Ghana

54 distinct crisis events in 4 episodes, 1949–2019, from the union of five primary chronologies.

Debt profile: government debt trajectory and crisis-start levels →

16
Banking crises
26
Currency crises
12
Sovereign debt crises
54
Crisis events
1949–2019
Span

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

  1. 2019
    Bankinglaeven_valencia1 source
  2. 2018
    Bankinglaeven_valencia1 source
  3. 2017
    Bankinglaeven_valencia1 source
  4. 2016
    Bankinglaeven_valencia1 source
  5. 2015
    Currencyrr1 source
    Bankinglaeven_valencia1 source
  6. 2014
    Currencygmd, laeven_valencia, rr3 sources
  7. 2013
    Currencyrr1 source
  8. 2012
    Currencyrr1 source
  9. 2009
    Currencygmd, laeven_valencia, rr3 sources
  10. 2008
    Currencyrr1 source
  11. 2002
    Currencyrr1 source
  12. 2000
    Currencygmd, laeven_valencia, rr3 sources
  13. 1999
    Currencyrr1 source
    Bankingrr1 source
  14. 1998
    Bankingrr1 source
  15. 1997
    Currencyrr1 source
    Bankingrr1 source
  16. 1996
    Currencyrr1 source
  17. 1995
    Currencyrr1 source
  18. 1994
    Currencyrr1 source
  19. 1993
    Currencygmd, laeven_valencia, rr3 sources
  20. 1992
    Currencyrr1 source
  21. 1989
    Currencyrr1 source
    Bankingrr1 source
  22. 1988
    Currencyrr1 source
    Bankingrr1 source
  23. 1987
    Sovereign debtrr1 source
    Currencyrr1 source
    Bankingrr1 source
  24. 1986
    Currencyrr1 source
    Bankingrr1 source
  25. 1985
    Currencyrr1 source
    Bankingrr1 source
  26. 1984
    Currencyrr1 source
    Bankingrr1 source
  27. 1983
    Currencygmd, laeven_valencia, rr3 sources
    Bankinglaeven_valencia, rr2 sources
  28. 1982
    Sovereign debtrr1 source
    Bankinggmd, laeven_valencia, rr3 sources
  29. 1979
    Sovereign debtrr1 source
  30. 1978
    Currencygmd, laeven_valencia, rr3 sources
  31. 1974
    Sovereign debtrr1 source
  32. 1973
    Sovereign debtrr1 source
  33. 1972
    Sovereign debtrr1 source
  34. 1971
    Sovereign debtrr1 source
    Currencyrr1 source
  35. 1970
    Sovereign debtrr1 source
  36. 1969
    Sovereign debtrr1 source
  37. 1968
    Sovereign debtrr1 source
  38. 1967
    Sovereign debtrr1 source
    Currencygmd, rr2 sources
  39. 1966
    Sovereign debtgmd, rr2 sources
  40. 1949
    Currencygmd, rr2 sources

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

1949

Currency
Inflation (% y/y)
-20-1001020194419491954
Policy rate (%)
No data for this window
Govt debt (% of GDP)
01020194419491954

1966–1974

Sovereign debtCurrency
Inflation (% y/y)
-50050100150196119661979
Policy rate (%)
051015196119661979
Govt debt (% of GDP)
0102030196119661979

1978–2002

CurrencySovereign debtBankingFiscal cost 6.0% of GDP, output loss 45.3% of GDP (Laeven-Valencia 2026)
Inflation (% y/y)
050100150197319782007
Policy rate (%)
0204060197319782007
Govt debt (% of GDP)
0255075197319782007

2008–2019

CurrencyBankingFiscal cost 4.4% of GDP, output loss 2.5% of GDP (Laeven-Valencia 2026)
Inflation (% y/y)
02040200320082024
Policy rate (%)
0102030200320082024
Govt debt (% of GDP)
050100200320082024

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology