{"id":406790,"date":"2017-07-29T13:54:39","date_gmt":"2017-07-29T13:54:39","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/07\/29\/ghanas-debt-stock-hits-%c2%a2137-billion\/"},"modified":"2017-07-29T13:54:39","modified_gmt":"2017-07-29T13:54:39","slug":"ghanas-debt-stock-hits-%c2%a2137-billion","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/07\/29\/ghanas-debt-stock-hits-%c2%a2137-billion\/","title":{"rendered":"Ghana\u2019s debt stock hits \u00a2137 billion"},"content":{"rendered":"

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The total public debt for the country as at May this year has reached \u00a2137 billion putting the debt-to-GDP ratio at 67.5%, a\u00a0summary of economic and financial data released by the Bank of Ghana has revealed.<\/p>\n

This\u00a0was at the end of the Central Bank’s Monetary Policy Committee meeting to review the\u00a0health of economy over the past three months.\u00a0<\/p>\n

Breakdown of debt numbers<\/b><\/p>\n

<\/p>\n

The report showed that the debt stock increased by \u00a29.4 billion\u00a0in three months\u00a0from \u00a2127.8 billion\u00a0to \u00a2137.2 billion.<\/p>\n

It is not clear for now whether the increase was caused by fresh borrowing by government, the cedis’ depreciation or some commitment that government had to deal with.<\/p>\n

However, sources say the increase can be attributed to the recent $2.25 billion bond issued by government\u00a0in April.\u00a0<\/p>\n

External debt accounted for $17.1 billion, while domestic debt stood at almost \u00a263.9 billion. The \u00a2137 billion debt stock or public debt for May ending was more than the \u00a2105 billion recorded in the same period for last year.<\/p>\n

Government borrowings for this year<\/b><\/p>\n

Government was planning to raise almost \u00a257 billion\u00a0through bonds and Treasury bills. This is the total amount that the state should realize if government is able to raise all the amount targeted in its issuance calendar for bonds and treasury bills for the first three-quarters of this year.<\/p>\n

In the first quarter of this year, government is said to have raised \u00a217.4 billion with \u00a222.2 billion\u00a0raised in the second quarter. It is also planning to raise \u00a217.4 billion\u00a0from July to September this year.<\/p>\n

Forty-three billion cedis of the amount are for roll over maturities, while the remaining would be used to finance government\u2019s own projects<\/p>\n

More details on the economic data<\/b><\/p>\n

Despite the troubling debt numbers, there are some figures from Merchandise Exports to smile about. Total earnings from exports from January to June stood at $7.1 billion which went up from $6.5 billion\u00a0recorded in the same period for 2016.<\/p>\n

Also,\u00a0the traditional exports brought in more than what the country got in May 2016.\u00a0<\/p>\n

Gold brought in a little over $3 billion. The state got a little over $1.7 billion from cocoa export, while oil exports stood at $1.2 billion.\u00a0<\/p>\n

Expenditure on Imports<\/b><\/p>\n

The summary of Economic data showed that the country spent $5.7 billion\u00a0on the country’s total imports for the first six months of this year.\u00a0<\/p>\n

Oil accounted for $733 million, while non-oil imports stood at $4.9 billion.<\/p>\n

Developments in the banking sector\u00a0<\/b><\/p>\n

Loans that banks fear might not be paid or go bad,\u00a0was still a major problem in the banking sector.<\/p>\n

The data showed that banking industry\u2019 non-performing loans went up from 19.3% as at May 2016 to\u00a0 21.7% in May 2017.\u00a0<\/p>\n

Total Assets in the banking sector stood at \u00a284.1 billion, representing a 27.3% growth.\u00a0<\/p>\n

Total deposits also went up by 24.5 percent to \u00a253.2 billion. Loan advances stood at \u00a236.5 billion\u00a0after a 16.4 percent growth compared to May 2016.\u00a0 \u00a0<\/p>\n<\/div>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The total public debt for the country as at May this year has reached \u00a2137 billion putting the debt-to-GDP ratio at 67.5%, a\u00a0summary of economic and financial data released by the Bank of Ghana has revealed. This\u00a0was at the end of the Central Bank’s Monetary Policy Committee meeting to review the\u00a0health of economy over the […]<\/p>\n","protected":false},"author":0,"featured_media":406791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-406790","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nGhana\u2019s debt stock hits \u00a2137 billion - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/07\/29\/ghanas-debt-stock-hits-\u00a2137-billion\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana\u2019s debt stock hits \u00a2137 billion - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The total public debt for the country as at May this year has reached \u00a2137 billion putting the debt-to-GDP ratio at 67.5%, a\u00a0summary of economic and financial data released by the Bank of Ghana has revealed. 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