Ghana’s public debt rises to GH¢28.3b but within 60% GDP threshold
The stock of Ghana’s total public debt reached GH¢28.3 billion as at the end of July 2012, a report released by the central bank September 12, 2012 shows.
The debts were both domestic and external.
Briefing the press on the Monetary Policy Committee report, acting Bank of Ghana governor Dr Henry Kofi Wampah said, the GH¢28.3 billion public debt was equivalent to 44.4% of GDP, up from 42.6% GDP at the end of December 2011, but well “within the debt sustainability threshold of 60% of GDP.”
The stock of domestic debt at the end of July 2012 stood at GH¢13.7 billion, up from GH¢11.8 billion in December 2011 while the external debt stock declined marginally from $7.8 billion in December 2011 to $7.7 billion at the end of July 2012.
The country’s stock of public debt was GH¢25.8 billion at the end of April, 2012 representing 42.7% of GDP, according to the central bank.
By Ekow Quandzie