Eighteen point nine percent of the nation’s domestic debt as of September this year was held by foreign or non-resident investors, according to data from the Bank of Ghana.

According to the composition of the domestic debt, foreign investors held GH¢25.5 billion of the total debt of about GH¢135 billion. 

Whilst Bank of Ghana held GH¢31 billion of the domestic debt, GH¢38 billion of the debt belonged to the banks.

Together, the two constituted about 51% of the total domestic debt.

The non-banking sector including SSNIT, Rural Banks and Insurance companies together held 40.2 billion cedis of the nation’s domestic debt, about 29% of the total domestic debt.

Based on the composition of the domestic debt, many analysts and economists may not be too worried about the impact of the rising debt on the economy since some significant portion of the domestic debt are held by local investors.

Total public debt stock

 The country’s public debt stock increased to GH¢273.8 billion in September this year after adding GH¢10.7 billion in the months of August and September respectively.

According to the Summary of Financial and Economic Data, the external component of the debt stood at GH¢138.5 billion.

On the other hand, the financial sector resolution bond stood at GH¢15.4 billion, about 4%of Gross Domestic Product.