Latest report shows Ghana’s public debt stock has increased to almost GHC200 billion

Latest report shows Ghana’s public debt stock has increased to almost GHC200 billion

- Latest reports show Ghana's public debt stock is almost GHC200 billion

- The figure represents 57.5% of GDP as at March 2019

- GHC21.4 billion was added to the public debt from January to March 2019

Information available to YEN.com.gh shows that Ghana’s current debt stock has increased to almost GHC200 billion.

The amount now stands at GHC198 billion, according to the latest economic data released by the Bank of Ghana.

YEN.com.gh understands that the debt figure is 57.5% of Ghana’s current Gross Domestic Product (GDP), as at March 2019.

READ ALSO: Akufo-Addo reveals results of banking sector reforms; praises Bank of Ghana

The data released on Friday, May 24, 2019, shows that GHC21.4 billion was added to the public debt in the first three months of 2019.

According to a report by Citinewsroom.com, this includes the proceeds of the US$3 billion Eurobond the government had issued in March 2019.

The growing public debt feeds into the rising interest payments the government pays on its borrowings.

The finance minister, Ken Ofori-Atta, explained Ghana needs to pay in excess of GHC21 billion in interest on its debt in 2019 alone.

READ ALSO: AMA reveals property rates would soon go up

Ghana News Today: Okyeame Kwame's Made in Ghana Album launch| #Yencomgh

Subscribe to watch new videos

Want to be featured on YEN.com.gh? Send us a message on our Facebook page or on Instagram with your stories, photos or videos

Source: Yen

Related news
Nigerian traders desert Suame Magazine after closure of over 50 shops

Nigerian traders desert Suame Magazine after closure of over 50 shops

Nigerian traders desert Suame Magazine after closure of over 50 shops
YEN.com.gh
Mailfire view pixel