Breaking News

GHANA’S DEBT STOCK HITS ¢402.4bn – Bank of Ghana

Per a publication by ghbase.com, according to the Summary of Economic and Financial Data published by the Bank of Ghana for October 2022, the total amount of the nation’s debt as of July 2022 is 402.4 billion cedis.

In its most recent Africa Pulse Report, the World Bank predicted that Ghana’s debt-to-debt ratio would reach 104.6% by the end of 2022. Based on this projection, the World Bank categorized Ghana as a very debt-distressed nation.

The monetary amount of the debt stock fell from $54.4 billion in June to $53.2 billion in July 2022, indicating a decrease.

The country’s total foreign debt was hovering at $28 billion, which was equivalent to 35.8% of GDP.

The national debt reached a higher total of 190.3 billion yen in July 2022, compared to 190.1 billion yen in June 2022.

The domestic debt has been steadily increasing since January 2022, reaching a new high of 188.5 billion in May 2022, having previously been at 181.9 billion in January 2022, 185.4 billion in February 2022, 190.1 billion in March 2022, 189.2 billion in April 2022, and 181.9 billion in January 2022.

Spread the love

About Nkonkonsa.com

Check Also

MAHAMA PROMISES TO INCLUDE PRIVATE HIGH SCHOOLS IN FREE SHS PROGRAMME

The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has emphasised the importance …