The finance minister, Dr. Mohammed Amin Adam, said that as of June of this year, the central government’s provisional total debt was GH¢742 billion (US$50.9 billion).
This amount is equivalent to 70.6% of the GDP.
Dr. Adam said, “This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and continuous disbursements from creditors,” during his presentation of the 2024 mid-year budget review in Accra’s parliament on Tuesday.
He went on, “The stock is made up of GH¢452.0 billion in external debt and GH¢290.0 billion in domestic debt, which account for 60.9 percent and 39.1 percent of the overall debt stock, respectively.
“As a percentage of GDP, external and domestic debt represented 43.0 percent and 27.6 percent, respectively.”