Ghana’s debt stock hits ¢402.4bn – BoG

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According to the Summary of Economic and Financial Data published by the Bank of Ghana for October 2022, the total amount of the nation’s debt as of July 2022 is 402.4 billion cedis.

In its most recent Africa Pulse Report, the World Bank predicted that Ghana’s debt-to-debt ratio would reach 104.6% by the end of 2022. Based on this projection, the World Bank categorized Ghana as a very debt-distressed nation.

The monetary amount of the debt stock fell from $54.4 billion in June to $53.2 billion in July 2022, indicating a decrease.

The country’s total foreign debt was hovering at $28 billion, which was equivalent to 35.8% of GDP.

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The national debt reached a higher total of 190.3 billion yen in July 2022, compared to 190.1 billion yen in June 2022.

The domestic debt has been steadily increasing since January 2022, reaching a new high of 188.5 billion in May 2022, having previously been at 181.9 billion in January 2022, 185.4 billion in February 2022, 190.1 billion in March 2022, 189.2 billion in April 2022, and 181.9 billion in January 2022.

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