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Source: newsthemegh.com
By December 2023, Ghana’s public debt had risen to GH₵610 billion, a noteworthy 26.85% increase from GH₵446.3 billion the year before.
Currently, this amount equals 72.5% of the GDP of the nation.
According to the Bank of Ghana’s Summary of Economic and Financial Data for March 2024, Ghana’s debt level increased by GH₵163.7 billion year to date, despite the successful completion of a domestic debt swap.
Due in major part to the local currency’s decline, the overall debt was valued at US$52.4 billion in dollars.
Of this, GH₵350.3 billion (US$30.1 billion) was owed outside, while GH₵259.7 billion, or 30.9% of GDP, was owed domestically.
While domestic debt marginally grew by GH₵54.3 billion, external debt climbed by GH₵109.4 billion. Nominal GDP in Ghana increased to GH₵841.6 billion from GH₵614.3 billion.