The latest January 2022 Bank of Ghana Summary of Economic and Financial Data has revealed.that Ghana’s public debt stock has shot up by ¢2.7 billion.
This has increased the debt stock to ¢344.5 billion in November 2021.
By this update, the debt to Gross Domestic Product (GDP) is now 78.4%.
According to the BoG, the country’s debt has reached disturbing levels.
The data shows that ¢2.7 billion fresh loans, largely domestic debt, was added to the total debt in October 2021 and November 2021.
Also, the domestic debt went up to ¢179.4 billion in November 2021, from ¢178.1 billion recorded in September, 2021.
The figure represents 40.8% of GDP.
The central bank’s statement further disclosed that the external debt remained unchanged at $27.9 billion in November 2021, from September, 2021.
The figure represents 37.6% of GDP.