Ghana’s public debt increases to $52.3 billion

• Posted on September 25, 2023September 25, 2023
• by Nana Kwesi Coomson
• Comment

Ghana’s public debt has increased to GH?575.5 billion as of June 2023, representing 71.9% of Gross Domestic Debt (GDP).

This is a marginal rise of GH?6.3 billion compared to the GH?569.2 billion recorded in April 2023.

According to the Bank of Ghana’s Summary of Economic and Financial Data for September 2023, the country’s public debt has increased by GH?27.7 billion since January 2023.

In dollar terms, the total debt stock stood at US$52.3 billion as of June 2023.

External debt accounted for GH?328.6 billion (US$29.9 billion), while domestic debt accounted for GH?246.9 billion ($30.8 billion).

While the external debt went up by GH? 7. 3 billion compared to April 2023 figure of GH?321.3 billion that of domestic debt however saw a slight fall from GH? 247.9 billion to GH? 246.9 billion for the same period.

Nominal GDP, on the other hand, remained at GH?800.9 billion as of June 2023, a figure that has not seen any increase since January 2023 but has gone up from the GH?610.2 billion recorded in June 2022.