The most recent statistics from the Bank of Ghana shows that Ghana’s national debt is still rising and has reached alarming levels.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Ghana’s public debt continues to mount, reaching concerning levels according to the latest data released by the Bank of Ghana.

As of June 2024, the country’s total public debt stood at GH¢742 billion, equivalent to 70.6% of GDP, up from 69.3% in June 2023.

The increase in the debt-to-GDP ratio comes despite ongoing efforts to consolidate public finances and implement debt sustainability measures.

The rise is partly attributed to the persistent depreciation of the cedi, which has inflated the value of external debt when measured in local currency terms.

Breaking down the debt composition, external debt accounted for GH¢452.0 billion or 43.0% of GDP in June 2024, while domestic debt stood at GH¢290 billion, representing 27.6% of GDP.

Source: newsthemegh.com