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Ghana’s debt stock shoots up to ¢351.8bn

As of December 2021, Ghana’s debt stock was ¢351.8 billion, the March 2022 Summary of Economic and Financial Data by the Bank of Ghana (BoG) has revealed.

It was ¢344.5 billion in November 2021.

The current debt stock is about 80.1% of the country’s Gross Domestic Product (GDP).

The Summary indicated that about ¢730 million fresh loans were added to the total public debt stock in December 2021.

The domestic debt went up to ¢181.8 billion in December 2021, from ¢179.4 billion in November 2021.

This is equivalent to 41.4 of GDP.

The external component of the total public debt shot up to $28.3 billion (¢170.0 billion), from $27.9 billion in November 2021.

The debt-to-GDP ratio of the external debt is however equivalent to 38.7% of GDP.

The cedi component shot up by ¢6.3 billion, primarily due to the decline in the value of the cedi to the dollar during the period.

The financial sector resolution bond remained unchanged at ¢14.9 billion in December 2021, equivalent to 3.4% of GDP.

Source: Classfmonline.com

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