Audio By Carbonatix
Provisional figures indicate that total public debt stood at ¢467.37 billion ($48.87 billion), representing approximately 75.9% of the Gross Domestic Product.
The domestic debt component stood at ¢195.65 billion, which is 31.79% of GDP, whilst external debt is ¢271.713 billion, representing 44.15% of GDP.
The increase in domestic debt is largely on account of rising interest costs.
Domestic debt as a share of total public debt reduced from 51.6% in 2021 to 41.9% as of the end of September 2022.
The external debt as a percentage of the total debt stock was 58.1% as of the end of September 2022.
The sharp growth in the external debt stock is largely driven by the depreciation of the local currency.
The depreciation of the Ghana cedi added ¢93.855 billion to the external debt stock.
Overall, debt accumulation increased from 20.7% in 2021 to 32.7% as of the end of September 2022, reflecting the impact of the depreciation of the Ghana cedi on the external debt side.
Latest Stories
-
HAKLA SC Vice President marks birthday with donation to Children’s home
39 minutes -
Shatta Wo Maame T…?
1 hour -
Dr Kingsley Agyemang raises concerns over Ghana’s Ebola preparedness gaps
1 hour -
EPA arrests Gyetey Gye Nyame Mining PRO over alleged illegal mining at Nkroful
1 hour -
Weija traditional leaders support demolition of structures on waterways to curb flooding
1 hour -
UGCFL26: Wilmar Africa, the newcomers taking over Group B
2 hours -
Why Gordon Asare Bediako matters for NPP 2028’s communication
2 hours -
UPSA hosts 11th Business & Entrepreneurship Conference on ESG and Sustainability
2 hours -
Strong public confidence boosts Ghana’s drive towards local vaccine production
3 hours -
Strategy Execution for Results
3 hours -
Teens need to press pause on late-night doomscrolling
3 hours -
PIAC probes delayed Ehi–Dzodze road project amid concerns over oil revenue use
3 hours -
SEED Club launched to nurture young entrepreneurs
3 hours -
Amb. Dr Samuel Ben Owusu calls for urgent action on Ghana’s water security
3 hours -
Pan Africa AU Agenda 2063 Mission, IAWPA hold Africa Day Leadership Summit in Accra
3 hours