Home News Ghana’s debt stock rose tby 13 billion– Bank of Ghana

Ghana’s debt stock rose tby 13 billion– Bank of Ghana

Ghana's debt stock rose tby 13 billion– Bank of Ghana

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Ghana’s debt stock rose tby 13 billion– Bank of Ghana

 

Bank of Ghana’s (BoG) Summary of Economic and Financial Data has revealed that Ghana’s public debt stock rose by ¢13 billion to hit ¢304.6 billion in March 2021.

This is equivalent to 70.2% of Gross Domestic Product (GDP), lower than the 76.1% registered in December 2020.

The fall in debt to GDP ratio is probably due to the expansion in the size of the economy, despite the impact of covid-19.

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The $3 billion Eurobond raised by the country in March this year accounted for this jump in the debt.

Between December 2020 and March 2021, ¢13 billion was added to the country’s debt. The debt stood at ¢291.6 billion at the end of last year.

The domestic debt went up to ¢163.6 at the end of the first quarter of 2021, compared with ¢149.8 billion in December 2020. This is equivalent to 37.3% of GDP.

The external debt stood at ¢141 billion ($24.6 billion) in March 2021, as against ¢141.8 ($24.6 billion). This is approximately 37.7% of GDP.

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Importantly, the financial sector debt went down by ¢100 million to ¢15.2 billion. It is equivalent to 3.5% of GDP.

The debt could go down if levies collected to settle the financial sector debt is used to settle part of its.

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