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
-
Center for Learning and Childhood Development Director Dr Kwame Sakyi honoured at Ghana Philanthropy Awards
9 hours -
Asantehene receives 28 looted artefacts
10 hours -
CAF WCL 2024: Ghana’s Thelma Baffour wins title with TP Mazembe
10 hours -
Benjamin Boakye slams politicisation of energy sector issues and ECG’s inefficiencies
10 hours -
Erastus Asare Donkor and Dr Neta Parsram win big at 10th Mining Industry Awards
11 hours -
Government is “suppressing information” about power sector challenges – IES Director
11 hours -
Majority of our debts caused by forex shortfall – ECG Boss
11 hours -
Pan-African Savings and Loans supports Ghana Blind Union with boreholes
12 hours -
Bole-Bamboi MP Yussif Sulemana donates to artisans and Bole SHS
12 hours -
Top up your credit to avoid potential disruption – ECG to Nuri meter customers
12 hours -
Dutch & Co wins 2024 Entrepreneur of the Year Award
12 hours -
We’ll cut down imports and boost consumption of local rice and other products – Mahama
15 hours -
Prof Opoku-Agyemang donates to Tamale orphanage to mark her birthday
16 hours -
Don’t call re-painted old schools brand new infrastructure – Prof Opoku-Agyemang tells gov’t
16 hours -
Sunon Asogli plant will be back on stream in a few weeks – ECG
17 hours