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Ghana's debt hit GHc129.5billion

Written by  May 20, 2017
Ghana’s public debt has hit GHc129.5billion, the Bank of Ghana Summary of Economic and Financial Data has revealed. This represents 63.7 percent of GDP. The current figure is 7 billion higher than the 122 billion recorded at the end of 2016. The data says external debt accounts for GHc74.5 billion, while debt incurred internally stands at GHc55 billion.   The Bank of Ghana (BoG) puts the cedi's year-to-date depreciation at around 1 percent. Per the data, the amount of money outside the banking sector recorded a 22.3 percent growth compared to the 15 percent in the first quarter of 2016.   Total assets stood at GHS84 billion representing a 31 percent growth rate, deposits at GHS52.8 billion, while total advances have reached GHS36 billion as at March ending.
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