Ghana’s debt crosses 70% GDP mark, hits GHS273.8 billion
Ghana’s total public debt stock is now standing at GHS273.8 billion as of the end of September 2020.
The figure rose by GHS54.8 billion in the first nine months of this year, the
Summary of Macroeconomic and Financial Data from the Bank of Ghana.
The figure has pushed Ghana’s debt to GDP ratio to 71 percent, crossing the dreaded 70 percent threshold for the first time since December 2016 when the figure stood at 73.3 percent.
Per the details, the total public debt stock, which started the year at GHS219.6 billion, has increased by 26.7 percent within nine months.
The breakdown shows that GHS 138.5 billion of the debt, was secured from outside the country.
It represents 35.9 percent of the total value of the economy.