Ghana’s public debt down GH₵14.2bn; now ¢567.3bn

Business

Debt being shoved over a cliff

Between June 2023 and September 2023, Ghana's public debt decreased by ¢14.2 billion to ¢567.3 billion ($51.0 billion), constituting 66.4% of Gross Domestic Product (GDP).

Factors contributing to the reduction include marginal gains in the cedi's value and the temporary cessation of international borrowings.

The external component of the debt is $29.4 billion (¢326.7 billion), down from $29.9 billion (¢328.6 billion) in June 2023.

Domestic debt is ¢240.6 billion, equivalent to 28.1% of GDP, showing a decline from ¢252.9 billion recorded in June 2023.

Fiscal operations were on target, with a 3.0% deficit-to-GDP in August 2023, compared to 8.3% in December 2022.

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