BoG Data Reports Debt Stock Decline From GHS 807 Billion to GHS 761 Billion in October
Ghana’s total public debt stock at end-October 2024 amounted to GHS 761 billion ($46.8bn) per recent data from the Bank of Ghana.
The end-October 2024 debt stock of GHS 761 billion is, however, a decline from the previous month’s public debt stock of GHS 807.8 billion ($51bn).
Hence, on a month-on-month basis, Ghana’s public debt stock has reduced by some GHS 46.8 billion.
On a year-on-year basis, however, the BoG data reveals a GHS 175 billion increase in the public debt stock.
The decline in the debt stock may be attributable to some debt reliefs gained from the successful restructuring of the country’s external debt held by Eurobond investors.
According to the Bank of Ghana, the debt stock represents 74.6% of the country’s gross domestic product (GDP) with external debt amounting to GHS 453.7 billion ($27.9bn) and representing 44.5% of GDP.
Domestic debt on the other hand amounts to GHS 307.3 billion representing 30.1% of GDP.
Ghana’s annual GDP for this year is valued at GHS 1.02 trillion.
