• HOME
  • GENERAL NEWS
  • POLITICS
  • AFRICA NEWS
  • ENTERTAINMENT
  • HEALTH
  • OPINION
  • ELECTIONS BOX
  • HOME
  • GENERAL NEWS
  • POLITICS
  • AFRICA NEWS
  • ENTERTAINMENT
  • HEALTH
  • OPINION
  • ELECTIONS BOX

MYGHANAMEDIA.COMMYGHANAMEDIA.COM Best Source Of Latest News

  • HOME
  • GENERAL NEWS
  • POLITICS
  • AFRICA NEWS
  • ENTERTAINMENT
  • HEALTH
  • OPINION
  • ELECTIONS BOX
Breaking News
  • Osei Tutu SHS Wins 2025 ACE Spoken Word Competition
  • 2025 Hajj: 2 Ghanaian Pilgrims Confirmed Dead, 5 Others Repatriated
  • [Watch]: I Was Dragged For About 30 Meters – Ghanaian Actor Akrobeto Breaks Silence After Escaping Ghastly Accident
  • Reduce Fares or Face Sanctions – GPRTU To Non-complaint Drivers
  • Veteran Actor Akrobeto Survives Car Crash On Accra-Kumasi Highway
  • Nigeria’s Ruling Party Endorses President Tinubu For 2027 Re-election
  • VIDEO: Effective Leadership Behind Cedi’s Gain – Mahama Responds To Bawumia
  • VIDEO: You’ve Halted All My Operations, Am I Not Ghanaian? – Chairman Wontumi Lashes Out After National Security Raid
  • Joint Police And National Security Operatives Storm Wontumi’s Residence With Search Warrant
  • Eight New Mpox Cases Confirmed In Ghana – GHS
Home/BUSINESS NEWS/Ghana’s Debt Stock Hits GH¢336 Billion; Debt-To-GDP Ratio Now 76.4% – BoG

Ghana’s Debt Stock Hits GH¢336 Billion; Debt-To-GDP Ratio Now 76.4% – BoG

admin@myghanamedia September 27, 2021 BUSINESS NEWS 1,483 Views

Latest figures released by the Bank of Ghana indicate that in two months, the country’s public debt stock has increased by GH¢3.5 billion.

By this, Ghana’s total public debt stock increased from about GH¢332 billion in May 2021 to about GHC336 billion in July 2021.

According to the latest Bank of Ghana’s Summary of Macroeconomic and Financial Data, the new debt figure of about GH¢336 billion brings Ghana’s debt to Gross Domestic Product (GDP) ratio to 76.4% as of the end of July 2021.

Despite the increase in the nation’s debt stock, the rate of increase has slowed down, when compared to the about GH¢30 billion added in April and May 2021.

A breakdown of the debt numbers shows that the component of debt secured locally rose marginally by GH¢2.6 billion from GH¢170.8 billion in May 2021 to GH¢173.4 billion in July 2021.

The new figure represents 39.5% of the projected GDP for 2021.

The domestic component of the total public debt contains the financial sector resolution bond.

Compared to the GH¢15.2 billion recorded at the end of May 2021, the financial sector resolution bond reduced to GH¢14.9 billion in July 2021, representing 3.4% of GDP.

The data also shows that the component of the debt secured outside the country rose marginally from GH¢161.6 billion in May 2021 to GH¢162.5 billion in July 2021. This represents 37.0% of GDP.

However, a critical look at the data also shows that despite the rise in the debt stock in cedi terms, it decreased in dollar terms.

In May 2021, the dollar equivalent of the nation’s debt was 57.9 billion dollars. This increased to 58.1 billion dollars in June. It however decreased to 57.9 billion dollars in July 2021

In an interview with Citi Business News, Economist and lecturer at the University of Ghana, Dr. Patrick Asuming explained that government needs to be cautious in its optimism despite the slow-down in the rate of increase.

 

 

“It’s good that there has been some slowdown, but I don’t think we should not get carried away. Our situation hasn’t really changed much from the last reading. I do really think that, that in itself, is the problem. The problem is, while we have been piling up the debt, we really don’t have much to show for it.

 

 

 

Even though we are recovering, the economy hasn’t been at its strongest. Also, in the last couple of months, the cedi has depreciated a little bit even though the dollar value looks smaller. It is obvious because we are repaying but because the currency has lost value, if you convert it to cedi, it looks like in cedi terms, it is higher,” he said.

 

 

 

 

 

 

Source:  citinewsroom.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Disclaimer: MyGhanaMedia is not responsible for this report and its content.There are four types of content published on MyGhanaMedia daily: curated content; syndicated content; user-generated content; and original content.

 

 


Send your news stories to myghanamedia@gmail.com and Chat with us via WhatsApp on +233 200818719

Tags GH¢336 Billion Ghana’s Debt Stock

About admin@myghanamedia

we publish on Entertainment, Sports, Politics, Lifestyle, and Technology. You can also follow Us on : YouTube Channel - My Ghana Media TV, Facebook - MyghanaMedia TV , Twitter - @MyGhanamedia2 & Instagram - My Ghana Media TV. Email Address: myghanamedia@gmail.com Contact Us: 0200818719
Previous All You Need To Know About The $2bn Sinohydro Deal
Next Takoradi “Pregnant” Woman Pleads Not Guilty; Granted GHC50,000 Bail

Related Articles

GoldBod Extends Gold Trading License Deadline

3 days ago

Sammy Gyamfi Writes: Mahama Gov’t Policies Behind Cedi’s Strong Performance

3 days ago

Bank of Ghana Appoints 4 New Advisors

4 days ago

Check Also

E/R: See Areas That Will Be Affected By ECG’s Planned Maintenance At Akwatia Bulk Supply Point On May 22

The Electricity Company of Ghana (ECG) has announced that the Ghana Grid Company Limited (GRIDCo) …



Visit Us On Facebook

Advertise Your Business Here

 

 

 

Advertise Your Business Here

 

My Ghana Media Communication Limited is a regulated media firm that engages in publishing, advertising, broadcasting, web database programming, consulting, training, and support services, as well as commerce.

This corporation is the owner of the commercial online portals MyGhanaMedia.com and TodayGhanaMedia.com, which have been publishing English news, articles, classifications, audio, and video content mostly pertaining to Ghanaian society since 2020.

According to information provided by the outlet as answers to a questionnaire, the MyGhanaMedia, TodayGhana.com homepage was founded by Francis Kofi Mensah. He is also the CEO of the company. Adwenpa-Hene Kofi Mensah is the Editor in Chief of MyGhanaMedia.com & TodayGhanaMedia.com

Have questions, looking to join our team, or want to know more about advertising with us? Advertise. @ Myghanamedia@gmail.com . +233 200818719. +233 593346557.

 

Advertise Your Business Here

 



Powered by MyGhanaMedia.com | Designed by TC Webs
© Copyright 2020, All Rights Reserved