Public Debt

Ghana’s Public Debt Drops To GH¢736illion – Bank of Ghana
27 Jan

Ghana’s Public Debt Drops To GH¢736illion – Bank of Ghana

CUD Wontumi0 CommentsBusiness,
Ghana's public debt stock has seen a decline, falling to GH¢736.0 billion in November 2024 from GH¢761.0 billion in October 2024, according to the latest data from the Bank of Ghana's January 2025 Summary of Economic and Financial Data. This reduction represents a 3.3 percent decrease within a month and reflects efforts to stabilise the country’s fiscal outlook. The decline in the public debt stock has been attributed to adjustments in external and domestic debt levels during the period under review. The data reveals that Ghana's external debt fell to GH¢425.3 billion in November 2024 from GH¢453.7 billion in October…
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Lobby External Creditors To Accept A Significant Haircut To Reduce Ghana’s Debt – Peprah
25 Sep

Lobby External Creditors To Accept A Significant Haircut To Reduce Ghana’s Debt – Peprah

wontumionlineBusiness, ,
Associate Professor of Finance at Andrews University, Michigan, USA, Williams Peprah, has urged the government to lobby the Official Creditor Committee to secure a better deal in order to help reduce the country’s external debt significantly. According to him, Ghana’s debt problem is due to the high foreign denominated debt, which is impacted by exchange rate losses. The country’s public debt went up by ¢6.3 billion between April 2023 and June 2023 to ¢575.5 billion. Professor Peprah told Joy Business, government must ensure the foreign creditors agree to significant haircut in order achieve the target for the debt restructuring. “Ghana’s…
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Ghana’s Public Debt Was 80% To GDP During Covid-19 Pandemic; We’ll Help Restore Macroeconomic Stability – IMF
26 Sep

Ghana’s Public Debt Was 80% To GDP During Covid-19 Pandemic; We’ll Help Restore Macroeconomic Stability – IMF

wontumionlineBusiness, , , ,
The International Monetary Fund (IMF) has reiterated that Ghana’s public debt increased from 65%  to 80% of Gross Domestic Product during the period of the Covid-19 pandemic. This is contrary to the government’s figures that public debt to GDP was about 73%. In a Frequently Asked Questions (FAQs) session, the Fund said at the same time, the government’s fiscal efforts to preserve debt sustainability were not seen as sufficient by investors, leading to credit rating downgrades, non-resident investors exit from domestic bond market and loss of access to international capital markets. “These adverse developments, further exacerbated by the price and…
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