Ghana’s domestic debt balloons to GH₵290.9 billion
Ghana’s domestic debt has risen to GH₵290.9 billion.
This accounts for 28.5% of GDP.
Also, the country's external debt reached US$31.6 billion, up from US$30 billion in July 2023.
This represents 46.1% of GDP.
In total, Ghana’s public debt stock has surged to GH₵761.2 billion, accounting for 75.7% of the country’s gross domestic product (GDP) by July 2024, according to the latest figures from the Bank of Ghana.
The data, released in September 2024, shows a significant rise from the same period last year when the debt stood at GH₵587.7 billion, representing 70.3% of GDP.
This increase in debt comes amid ongoing economic challenges, with rising inflation and currency depreciation placing additional pressure on public finances.
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