The Bank of Ghana latest economic data published has shown that the country’s total public debt is just GHS2 billion shy of hitting GHS200 billion.
While the nominal debt figure continues to rise, when measured as a percentage of GDP, the debt is 57.5 percent of GDP, as of March 2019.
The data published Friday evening shows that in the first three months of 2019, GHS21.4 billion was added on to the public debt.
The debt accumulation in 2019 is inclusive of the proceeds of the US$3 billion Eurobond the government had issued in March.
The growing public debt feeds into the rising interest payments the government pays on its borrowings. According to the Finance Minister, Ken Ofori-Atta, the country is to pay in excess of GHS21 billion in interest on its debt in 2019 alone.