Ghana’s debt stock hits $200bn; highest in recent years

Ghana’s debt stock rose from GH¢153.4 billion in May 2019 to GH¢200 billion in July 2019, according to the Bank of Ghana (BoG).

The Governor of the BoG, Dr Ernest Addison, attributed the development to decline in global growth momentum, tensions between the US and China, unresolved Brexit negotiations, geopolitical tensions, inflationary pressures in advanced economies, exchange rate pressures among others.

Of the total debt stock, Dr Addison said domestic debt was “GH¢94.6 billion (27.5% of GDP), of which GH¢11.0 billion (or 3.2% of GDP) represented bonds issued to support the financial sector clean-up while external debt was GH¢105.4 billion (30.6% of GDP).”

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