Story: Franklin ASARE-DONKOH
New data released by the Bank of Ghana (BoG) has revealed that Ghana’s total public debt stock has shot up to GH¢575.7 billion at the end of November 2022.
Per the latest debt figure, Ghana’s debt to Gross Domestic Product (GDP) ratio to 93.5% from 75.9% in September 2022.
According to BoG’s January 2023 economic and financial data summary, the country’s debt stock increased by GH¢108.3 billion between September and November 2021.
The external component of Ghana’s public debt shot up to GH¢382.7 billion in November 2022, equivalent to 62.1% of GDP.
This was from GH¢271.7 billion in September 2022.
According to the Bank of Ghana, the total public debt is defined as Central Government debt excluding State Owned Enterprises/Special Purpose Vehicles Debt.
