Ghana’s debt

The World Bank has projected that public debt is projected to nudge up in non-resource-rich countries, up to 65.6 percent of Gross Domestic Product (GDP) in 2022 from 65.1 per cent in the previous year. Debt is expected to jump in Ghana to 104.6 percent of GDP, from 76.6 a year earlier amid a widened government deficit, massive weakening of the cedi, and rising debt service costs, the World Bank said. “The country’s debt is expected to remain elevated at 99.7 and 101.8 percent of GDP in 2023 and 2024, respectively. Tightening of financial conditions globally along with the fall…