Prime News Ghana

Ghana’s debt now $25.6 billion – BoG

By Kwasi Adu
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Ghana's debt stock rose to US$25.6 billion or GH¢97.2 billion in December last year, equivalent to 72.9 per cent of the year's total economic output, measured by gross domestic product (GDP), it has been reported.

The Daily Graphic, citing data released by the Bank of Ghana (BoG), reported that of the total debt stock at the time, domestic debt amounted to GH¢39.4 billion (29.5 per cent of GDP) while the rest, GH¢57.8 billion (43.4 per cent of GDP), was external debt.

That means that in cedi terms, the national debt burden grew by 27.7 per cent between December 2014, when it was GH¢76.1 billion (67.1 per cent of GDP), and December last year, when it peaked at GH¢97.2 billion, the report said.

In dollar terms, however, it went up by seven per cent from US$23.8 billion in 2014 to US$25.6 billion last year, the report added.