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Ghana’s public debt hits ¢304.6 billion

Ghana’s public debt hits ¢304.6 billion

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• Ghana’s public debt has risen by ¢3 billion


• This was revealed the latest BoG summary of Economic and Financial Data

• The $3 billion Eurobond is a contributing factor

Ghana’s public debt stock is now ¢304.6 billion.

According to the latest Bank of Ghana (BoG) summary of Economic and Financial Data, it is a rise from ¢3 billion in March 2021.

It is equivalent to 70.2% of Gross Domestic Product (GDP), lower than the 76.1% registered in December 2020.

The $3 billion Eurobond raised by the country in March 2021 also accounted for this jump in the debt.

In a JoyNews reportage sighted by GhanaWeb, ¢13 billion was added to the country’s debt between December 2020 and March 2021, and at the end of the year 2020, Ghana’s public debt stood at ¢291.6 billion.

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The report further stated that Ghana’s external debt stood at ¢141 billion ($24.6 billion) in March 2021, as against ¢141.8 ($24.6 billion). This is approximately 37.7% of GDP.

“Importantly, the financial sector debt went down by ¢100 million to ¢15.2 billion. It is equivalent to 3.5% of GDP.

“The debt could go down if levies collected to settle the financial sector debt is used to settle part of it,” the report added.

Source: www.ghanaweb.com

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