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Ghana's public debt is now Gh¢99.9 billion
Business and Economy

Ghana's public debt is now Gh¢99.9 billion

by  Nii Ayi Ayitey 1 min read

The Bank of Ghana (BoG) says Ghana's public debt has shot up from Gh¢96.9 billion to Gh¢99.9 billion as of December 2015.

Ghana's public debt is now Gh¢99.9 billion
Finance Minister, Seth Terkper

According to the central bank the rise in the nation's public debts has also seen the ballooning of external debt to Gh¢59.9 billion cedis with domestic debt hitting 40 billion Ghana cedis.

READ ALSO: Morocco, Zimbabwe, Sudan beat Ghana’s military in 2016 rankings

Even as Ghana prepares for the November 7 elections concerns have been raised over the spending capacity of government as the International Monetary Fund further warns that Ghana is most likely to plunge into recession should government fail to be disciplined in its spending.

READ ALSO: No shortage of cassava – Ministry allays fear of GhanaiansHowever, President John Mahama in his State of Nation address earlier this year said government is committed to ensuring it stays within its budget, especially this election season.

Source: YEN.com.gh

Authors:
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Nii Ayi Ayitey Nii Ayi Ayitey, aka Charles Ayitey, is an experienced journalist who covered Current Affairs news for Yen.com.gh from 2015-2021. He also worked for such companies as Multimedia Group Limited, Scooper, and Face2Face Africa. Nii Ayi Ayitey holds a Bachelor's degree in Communication and Media Studies from the Ghana Institute of Journalism (2015). Currently, he's studying at UC Berkeley Graduate School of Journalism.

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