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Public debt stock reaches ¢159bn billion in August

Finance Minister, Ken Ofori-Atta

The country’s public debt stock has reached ¢159.4 billion as at August 30, this year according to the Central Bank’s September summary of Economic and Financial data.

The data also shows that the stock of debts went up by ¢5.1 billion from May this year to August when it stood at ¢154 billion.

From the data, the domestic debt accounted for ¢73.8 billion cedis representing 30.6 percent of the total value of the economy. Also, ¢18.2 billion of the total debt were loans taken from outside the country.

The ¢159.4 billion debts translate into 65 percent of Ghana’s Gross Domestic Product (GDP). This means even though the country’s debt is going up in nominal terms, it has not gotten too serious threatening levels to the economy.

According to data put out by the Ghana Statistical Service in April, the value of the country’s economy at about ¢215 billion.

 

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