Ghana’s debt stock hits GHS159.4bn

Ghana’s public debt stock is now GHS159.4 billion as of 30 August 2018, according to the Bank of Ghana’s September summary of Economic and Financial data.

Per the data, the debt stock rose by GHS5.1 billion between May 2018 and August 2018.

Domestic debt accounted for GHS73.8 billion of the total debt stock, representing 30.6 per cent of the Ghanaian economy’s total value.

Loans taken by the government from outside the country totaled $18.2 billion (GHS 85.5 billion) of the total debt, representing 35.4 per cent of Gross Domestic Product (GDP).

On external sector development, the country’s export hit 10 billion dollars, while imports was at 8.7 billion dollars in August this year.

In the banking sector, the data showed that total assets of banks stood at 106 billion cedis as at August, 2018.

The total debt stock of GHS159.4 billion represents 65 per cent of Ghana’s GDP.