Ghana's debt reaches GH¢742 billion, accounting for 70.6% of GDP

Business

Debt

Dr. Mohammed Amin Adam, the Finance Minister, has revealed that the central government’s provisional total debt reached GH¢742 billion (US$50.9 billion) as of June this year.

This amount constitutes 70.6 percent of the Gross Domestic Product (GDP).

Delivering the 2024 mid-year budget review in parliament in Accra on Tuesday, Dr. Adam stated, “This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and continuous disbursements from creditors.”

Breaking down the debt, Dr. Adam explained, “The stock consists of external debt of GH¢452.0 billion and domestic debt of GH¢290.0 billion, representing 60.9 percent and 39.1 percent of the total debt stock, respectively. As a percentage of GDP, external and domestic debt represented 43.0 percent and 27.6 percent, respectively.”

Trending Business

Take advantage of improving food conditions to rebuild savings – Government Statistician urges Ghanaians

15:20
Gov’t to roll out major VAT reforms in 2026 – Ato Forson

10:43
GIPC CEO engages U.S. Embassy on new investment bill

09:05
National Poultry Farmers VP warns egg sellers against overpricing as feed costs drop

12:13
Road Fund saddled with GHS 8bn as gov't undertakes independent audit to verify claims

11:38
Farmers’ bank: A lifeline for Ghana’s agricultural sector and growth-Sosu

10:36
Finance Minister visits Osu Tax Service Centre, pledges strong support for revenue mobilisation

06:57
Mahama's government committed to supporting farmers – Elizabeth Ofosu-Adjare

14:39
Volta Young Entrepreneurs Forum 2025: Mama Bobi III and Mrs Appau-Klu honoured for empowering the girl child

16:55
Electrical contractors call for direct government contracts to improve public safety

11:50