Business News of Friday, 26 July 2024
Source: Citi News
Ghana’s debt stock: Each Ghanaian owes GH¢24,000
The debt stock consists of GH¢452 billion in external debt and GH¢290 billion in domestic debt
Ghana's total debt has risen to GH¢742 billion (US$50.9 billion), equating to 70.6% of its GDP.
This increase from GH¢658 billion in February 2024 is attributed to cedi depreciation and ongoing creditor disbursements.
The debt comprises GH¢452 billion in external debt and GH¢290 billion in domestic debt. With this debt, each of Ghana’s 30 million citizens effectively owes around GH¢24,000.
The debt was GH¢611.2 billion at the end of 2023, increasing to GH¢626 billion in January 2024 and GH¢658.6 billion in February 2024, according to Finance Minister Mohammed Amin Adam.
