Ghana’s public debt hits GHC99.9bn

Ghana’s public debt has increased from GHC96.9 billion to GHC99.9 billion as of December 2015, according to the Central Bank.

External debt now stands at GHC59.9 billion cedis with domestic debt hitting 40 billion Ghana cedis.

The figures are contained in the latest Bank of Ghana Summary of Economic and Financial Data released over the weekend.

The public debt is defined as how much a country owes to lenders outside of itself. These can include individuals, businesses and even other governments.

There have been concerns about the inability of government to stay within its spending limit.

However, President John Mahama in his State of Nation address earlier this year said government is committed to ensuring it stays within its budget, especially this election season.

-Starrfmonline

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ABOUT: Nana Kwesi Coomson

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An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.

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