As of December 2023, Ghana’s public debt surged to GH₵610 billion, marking a notable 26.85 percent increase from the GH₵446.3 billion recorded in December 2022. This new debt figure represents a significant 72.5% of Gross Domestic Product (GDP).
Thank you for reading this post, don't forget to subscribe!The Bank of Ghana’s Summary of Economic and Financial Data for March 2024 reveals that the country’s year-to-date public debt level rose by GH₵163.7 billion, despite the successful completion of the domestic debt exchange.
In dollar terms, the total debt stock amounted to US$52.4 billion, primarily influenced by the depreciation of the local currency. Of this total, external debt accounted for GH₵350.3 billion (US$30.1 billion), while domestic debt stood at GH₵259.7 billion, representing 30.9% of GDP.
The external debt increased by GH₵109.4 billion, while domestic debt saw a marginal rise of GH₵54.3 billion.
Moreover, nominal GDP escalated from GH₵614.3 billion to GH₵841.6 billion, indicating a robust economic activity within the period.
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