Ghana's public debt stock rises to GHC 214.9 billion - BoG reveals
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Ghana's public debt stock rises to GHC 214.9 billion - BoG reveals

- Ghana’s total public debt has reached 214.9 billion cedis as at November 2019

- According to the BoG, this figure represents 62.1 percent of the total value of all goods and services produced in the country for the period

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Bank of Ghana’s latest data on economic figures has indicated that Ghana’s total public debt reached 214.9 billion cedis as of November 2019.

According to the BoG, this figure represents 62.1 percent of the total value of all goods and services produced in the country for the period.

Out of the amount, the external debt component reached 111.9 billion cedis, with the domestic component accounting for 102.9 billion cedis.

READ ALSO: Ghana cedi greatly appreciates against dollar, pounds and euros in January 2020

Meanwhile, the data also showed that the local currency has enjoyed a good run against its major trading partners in the first month of this year, appreciating 0.3 percent against the dollar, 1.9 percent on the British pound, while recording a 2.3 percent appreciation against the Euro.

In 2019, the cedi depreciated 12.9 percent, 15.7 percent and 11.2 percent against the dollar, pound and euro respectively.

The Central Bank, among other things, announced the commencement of the forward fx auctions which basically allows banks and other dealers to make advance purchases of foreign currency to be supplied at an agreed rate later on.

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In other news, Data released by the Bank of Ghana indicate that the Ghana cedi has enjoyed a good run against its major trading currencies in the first month of 2020.

It has appreciated against all the three major currencies, the dollar, euro and pound sterling.

According to a report by Citi Business News, the cedi, which depreciated against all the three currencies in 2019, has found a renewed strength and has so by far held its own to make gains on its trading partners.

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Source: Yen

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