Ghana’s public debt hits GH¢145 billion

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Ghana’s total public debt stock has reached GH¢145 billion.
Official figures released by the Bank of Ghana (BoG) show that this is the level of the country’s debt as of February 2018.

The figure also represents a debt to Gross Domestic Product (GDP) ratio of 60 per cent.
The external component of the debt is at $17.4 billion or GH¢76.9 million.
This also represents 31.8 per cent of GDP.
The domestic component of the debt is at GH¢68.2 billion. 
This represents GH¢28.2 per cent of GDP.
Comparing the absolute figures, Ghana’s debt stock rose from GH¢142.5 billion as of December 2017 to the GH¢145 billion presently.
This means that between December 2017 and February 2018, Ghana added about GH¢2.5 billion to her debt.
Meanwhile, in the banking industry, total assets stood at GH¢97.8 billion as of April 2018.
In addition, total deposits reached GH¢61.1 billion, with advances reaching GH¢36.8 billion in April 2018.

ABOUT: Nana Kwesi Coomson

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An Entrepreneur 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. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

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