Latest data released by the Bank of Ghana shoes that Ghana’s debt stock has increased GH¢ 30 billion in April and May.
By this data, the new debt stock is currently GH¢ 304.6 billion.
This saw Ghana’s total public debt as of the end of May 2021 rising to GH¢ 332.4.
This means that Ghana’s debt to Gross Domestic Product (GDP) ratio to 76.6% as of the end of May.
The central bank explained the external debt component as of the end of May 2021 made up 37.2% of the total value of the economy, which is projected to be about GH¢ 434 billion for 2021.
Meanwhile, the component of the debt secured locally increased steadily in the first 5 months of 2021.
Per the data, Ghana’s domestic debt rose by about GH¢ 7 billion, bringing total domestic debt to GH¢ 170.8 billion at the end of May this year from the GH¢163.6 billion recorded at the end of March this year.
The new figure represents 39.4% of the projected GDP for 2021.
The domestic component of the total public debt contains the financial sector resolution bond, which was GH¢ 15.2 billion at the end of May 2021.
By: Rainbowradioonline.com
