Ghana’s debt stock reached GH¢304.6 billion at the end of the first quarter of 2021.
For the period ending May 2021, the central bank’s figures showed the country’s public debt stock rose to some GH¢332.4 billion.
This means a GH¢30 billion increase was recorded in April and May this year.
This translates to a Gross Domestic Product (GDP) ratio of 76.6% for the period which is currently the highest recorded so far in the past year for Ghana.
On the external debt front, the central bank’s figures showed a significant increase after the debt component remained stable in the first quarter of the year.
The country’s external debt recorded an increase of about GH¢20 billion from GH¢141 billion at the end of March 2021 to GH¢161.5 billion at the end of May 2021.
As of May 2021, the country’s external debt component recorded for the period was GH¢434 billion, which is made up of 37.2% in terms of the total value of the economy.
The latest figures by the central bank is somewhat higher than an initial GDP ratio of 76% which was previously recorded at the end of the 2020 fiscal year. Read Full Story