• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Ghana: Ghs 3.5 billion added to public debt worsening country’s debt vulnerability

4 years ago
in Economy, Editor's pick, highlights, Home, home-news, latest News
2 min read
0 0
0
83
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana: Ghs 3.5 billion added to public debt worsening country’s debt vulnerability

Ghana’s debt jumped by ¢3.5 billion to hit ¢335.9 billion at the end of July 2021, the latest Bank of Ghana’s Summary of Economic and Financial Data has revealed.

This is equivalent to 76.4% of Gross Domestic Product and keeps the nation in the highly debt distress category.

The addition to the country’s debt stock further worsens its vulnerability to debt repayment challenges.

The World Bank and the International Monetary Fund had warned the nation to slow down its rate of borrowing because of the risk of default if the economy is hit by external or domestic shocks.

For instance, the World Bank Country Director, Pierre Larporte, said if the prices of traditional commodities such as crude oil, gold and cocoa are hit by shocks, Ghana will be in a difficult position to service its debt, whilst the IMF expressed worry in its Article IV Consultation about the high exposure of banks to government securities that is Treasury bills and bonds, saying it is increasing the balance sheet risks of the banks.

https://wordpress-163713-2344586.cloudwaysapps.com/eased-liquidity-on-the-interbank-market-aids-government-exceed-t-bill-auction-target-by-60-2/
Eased liquidity on the interbank market aids government exceed T-bill auction target by 60.2%

But from the figures released by the Central Bank, the rate of borrowing had slowed down slightly. According to the data, the domestic debt went up to ¢173.9 billion in July 2021, from ¢170.8 billion in May 2021. This is equivalent to 39.5% of GDP.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

Importantly, the financial sector resolution bond had reduced to ¢14.9 billion in July 2021, from ¢15.2 billion in May 2021. This is equivalent to 3.4% of GDP. For the external debt, it went by $100 million in May 2021 to $28 billion in July 2021. This is approximately 37.0% of GDP.

Ghana’s debt to hit 81.5%, 86.6% of GDP in 2021, 2025 – IMF

Early in the year, the IMF said in its 2021 Fiscal Monitor that Ghana’s public debt stock was not going to take a nose dive anytime soon as it is expected to hit 81.5% of Gross Domestic Product (GDP) by the end of this year.

Per the IMF data on low-income developing countries, Ghana’s debt to GDP ratio will surge to 83.2% in 2022, and then further to 84.8%, 86.0% and 86.6% in 2023, 2024 and 2025 respectively. It will however drop slightly to 85.5% in 2026.

In Sub Saharan Africa, Zambia and Congo Republic are the only two countries that will record unsustainable debt levels, worse than Ghana.

Tags: Bank of Ghana (BoG)BOGCovid-19COVID-19 pandemicghanaGhana: Ghs 3.5 billion added to public debt worsening country's debt vulnerabilityGhs 3.5 billion added to public debt worsening country's debt vulnerabilityIMFWorld Bank
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.