Ghana’s debt hits Ghc154.3bn

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Finance Minister Ken Ofori-Atta

Data published by the Bank of Ghana after its Monetary Policy Committee Meeting has put Ghana’s total debt stock at 154.3 billion cedis as at May 2018.

The figure shows that the debt stock to GDP dropped on Year-on-Year basis from 67.3 percent in 2017 to 63.8 percent in the same period under review.

According to the data, the External component of the debt stock was at 18.5 billion dollars, while the domestic stood at 72.6 billion cedis by May.

A critical look at the data, however, shows that the government added 6.3 billion cedis to the debt stock from March 2018 to May 2018.

Finance Minister Ken Ofori Atta before Parliament

The debt increased from 148 billion cedis in March to 154.3 billion cedis in May, showing an increase in debt to GDP from 61.2 percent to 63.8 percent in the same period.

It is not clear what may have caused the debt to increase.

 

 

 

Source: Citi Newsroom

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