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.
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.
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.