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Debt

As at December 2015, data from the Bank of Ghana (BoG) revealed that , Ghana’s total debt stood at $25.6 billion.

According to the BoG’s summary of macroeconomic and financial data released on March, 18. 2016 as at December 2015, Ghana’s public debt was 25.6 billion dollars and in cedi terms; 97.2 billion cedis.

Per the BoG’s data Ghana’s debt hit 97.2 billion cedis in December 2015 up from the 96.9 billion cedis recorded in November of the same year.

In October, 2015 the total debt was 96.3 billion cedis while in September 2015, it was at 91.6 billion cedis and in August of that same year 94.8 billion cedis.

Per the figures as at December 2015 the total debt stock of 97.2 billion cedis or 25.6 billion dollars cumulated to 72.9 percent of GDP.

Of this figure the external debt hit 57.8 billion cedis in December, 2015 which is 43.3 percent of GDP.

While in February domestic debt was 39.4 billion cedis making up 29.5 percent of GDP.

In January 2016, domestic debt went up to 40.6 billion cedis making up 25.6 percent of GDP, it however dropped to 39.9 percent in February 2016 making up 25.2 percent of GDP.

Debt Stock in May 2015 

Ghana’s total debt stock increased by GHc5 billion between May and June 2015.

According to figures from the Bank of Ghana’s summary of economic and financial data for September 2015, the country’s total debt stock stood at GHc94.5 billion, in June 2015, representing 70.9% of Gross Domestic Product (GDP).

Ghana’s total public debt in the first half of 2015 increased consistently by about GHc15.1 billion, growing from GHc79.4 billion in January, to GHc94.5 billion in June.

In May 2015, the country’s total debt stock stood at 89.5 billion cedis which was 67.1% of Gross Domestic Product (GDP).

Ghana’s external debt stock  also increased by GHc4.8 billion, between May and June 2015 coming up to GHc58.6 billion representing 44% of GDP.

Credit: BoG &Ministry of Finance

Credit: BoG &Ministry of Finance

Total domestic debt stock also increased by 200 million cedis between May and June, 2015.

According to the central bank, the total domestic debt stock as at June, stood at GHc35.9 billion, representing 26.6% of GDP.

Ghana Business News