Ghana’s public debt stock remains at 575.7 billion dollars – BoG data

According to Bank of Ghana data, Ghana’s public debt stock remains constant at 575.7 billion at the end of November 2022.

Ghana’s total public debt stock increased from about GH467.4 billion in September 2022 to about GHC575.7 billion in November 2022, according to the Central Bank.

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According to the latest Bank of Ghana’s Summary of Macroeconomic and Financial Data for the period ending March 2023, the debt figure of about GH575 billion still puts Ghana’s debt to GDP ratio at 93.5% as of November 2022.

The data shows that the country’s domestic debt will remain at GH194.7 billion at the end of December 2022, accounting for 31.6% of GDP.

In November 2022, the external component of Ghana’s total public debt is $29.2 billion (382.7 billion), or 62.1% of GDP.

This compares to $28.4 billion (271.7 billion) in September 2022 and $28.3 billion in December 2021. The significant increase in the cedi component of external debt is due to the cedi’s 37% depreciation against the dollar in 2022.

By: Rainbowradioonline.com/Ghana