The March 2022 Summary of Economic and Financial Data by the Bank of Ghana (BoG) has revealed that Ghana’s public debt stock rose to ¢351.8 billion in December 2021, from ¢344.5 billion in November 2021, about 80.1% of Gross Domestic Product (GDP).
According to the figures from the Central Bank, about ¢730 million fresh loans were added to the total public debt stock in December 2021.
It explained that the increment may partially be due to the depreciation of the cedi during the last two months of 2021, which consequently increased the external debt component.
Domestic debt went up to ¢181.8 billion in December 2021, from ¢179.4 billion in November 2021. This is equivalent to 41.4 of GDP.
Also, the external component of the total public debt shot up to $28.3 billion (¢170.0 billion), from $27.9 billion in November 2021. It however remained unchanged between October 2021 and November 2021.
The debt-to-GDP ratio of the external debt is however equivalent to 38.7% of GDP.
The cedi component shot up by ¢6.3 billion, primarily due to the decline in the value of the cedi to dollar during the period.
Meanwhile, the financial sector resolution bond remained unchanged at ¢14.9 billion in December 2021, equivalent to 3.4% of GDP.