Ghana’s Total Debt Hits ₵742 Billion
Ghana’s total public debt has reached ₵742 billion, the June Summary of Macroeconomic and Financial Data of the Bank of Ghana (BoG) has revealed.
The debt accounts for 70.6% of the Gross Domestic Product (GDP).
The country’s Debt continues to add up on its financial sheets, witnessing a consistent rise since September 2023.
The data by the Bank showed that Ghc452 billion makes up external debts whose servicing was suspended in December 2022 as the country battled economic upheaval when it was booted out of the credit market for being unsustainable and debt distressed.
This translates to US$31 billion and 43% of GDP.
On the other hand, Domestic debt stands at GH290 billion which is 27.6% of GDP.
Meanwhile, the Bank reported that total revenue and grants in the last month made up 7.1% of the GDP.
