Prime News Ghana

BoG: Ghana's debt hits 170.8 billion cedis

By Mutala Yakubu
BoG
BoG: Ghana's debt hits 170.8 billion cedis
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According to the Bank of Ghana (BoG), the country added 11.4 billion cedis to its debt stock between July and August 2018, representing 57.2 per cent debt-to-GDP.


The country, within the period, accumulated an external debt component of 86.6 billion cedis while the domestic debt component has reached 84.2 billion cedis.

In October this year, the country's total exports reached 12.54 billion dollars.

Gold as a commodity generated 4.7 billion dollars which was the highest revenue.

It was followed by oil which raked in 3.83 billion dollars in revenue with cocoa placing third with its export revenue reaching 1.67 billion dollars.

With the banking sector, the total Non-Performing Loans (NPLs) increased marginally to 20.1 percent in October after dropping to 20 percent in September

Again, the total deposits of all banks remained at 67.5 billion cedis in nominal terms but increased by 20.9 percent on a year on year basis.

Read also: BoG: Names of staff involved in collapse of 7 banks to be published

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