{"id":708882,"date":"2019-09-24T06:43:18","date_gmt":"2019-09-24T06:43:18","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/09\/24\/public-debt-shoots-up-to-gh%c2%a2-205-6-bn\/"},"modified":"2019-09-24T06:43:18","modified_gmt":"2019-09-24T06:43:18","slug":"public-debt-shoots-up-to-gh%c2%a2-205-6-bn","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/09\/24\/public-debt-shoots-up-to-gh%c2%a2-205-6-bn\/","title":{"rendered":"Public Debt Shoots Up To Gh\u00a2 205.6 bn"},"content":{"rendered":"

<\/p>\n

\n

Public Debt<\/strong><\/p>\n

Ghana\u2019s stock of public debt increased to GH\u00a2 205.6 billion at the end of July 2019.<\/p>\n

The amount represent a debt-to-GDP rate of 59.4 percent, compared with 53.1 percent of GDP (GH\u00a2159.7 billion) at the end of July 2018.<\/p>\n

Governor of the Bank of Ghana (BoG) Dr. Ernest Addison, made this known to the media on Friday, September 20, 2019, at a press conference in Accra.<\/p>\n

He was briefing the media on decisions taken and observations made at the BoG\u2019s Monetary Policy Committee\u2019s 90th meeting.<\/p>\n

Of the total debt stock, he revealed, domestic debt was GH\u00a298.4 billion (28.4 percent of GDP), of which GH\u00a210.7 billion (3.1 percent of GDP) represented bonds issued to support the financial sector clean-up, while external debt was
GH\u00a2107.2 billion (31.0 percent of GDP).<\/p>\n

Slow Growth<\/strong><\/p>\n

He indicated that Growth in broad money (M2+) has slowed considerably in the first eight months of 2019, partly reflecting continuing tight monetary policy stance.<\/p>\n

\u201cAnnual growth in M2+ was estimated at 11.8 percent at end August 2019 compared to 23.1 percent in the same period of 2018,\u201d according to the Governor.<\/p>\n

The slower growth in total liquidity mainly reflected sharp moderation in Net Foreign Assets, he stated.<\/p>\n

\u201d Annual growth in Reserve Money was 15.0 percent in August 2019, marginally up from 14.2 percent annual growth in the same period of last year,\u201d Dr. Addison said.<\/p>\n

Private Sector Credit<\/strong><\/p>\n

According to him, private sector credit growth has moderated slightly after peaking at percent in March 2019 as credit conditions tightened marginally.<\/p>\n

Annual growth in private sector credit was 13.4 percent in August 2019, compared with 15.8 percent growth in the same period of 2018, he reported, adding that in real terms, private sector credit expanded by 5.2 percent.<\/p>\n

\u201cThe recent credit conditions survey indicated some tightening of credit stance on loans to enterprises and households despite increased demand for loans as banks continued to improve their credit risk management systems,\u201d he noted.<\/p>\n

\u201cMoney market rates have broadly remained unchanged for both
short-dated and long-dated instruments since the last MPC meeting,\u201d he added.<\/p>\n

BY Melvin Tarlue<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Public Debt Ghana\u2019s stock of public debt increased to GH\u00a2 205.6 billion at the end of July 2019. The amount represent a debt-to-GDP rate of 59.4 percent, compared with 53.1 percent of GDP (GH\u00a2159.7 billion) at the end of July 2018. Governor of the Bank of Ghana (BoG) Dr. Ernest Addison, made this known to […]<\/p>\n","protected":false},"author":1,"featured_media":708883,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-708882","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nPublic Debt Shoots Up To Gh\u00a2 205.6 bn - 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\/2019\/09\/24\/public-debt-shoots-up-to-gh\u00a2-205-6-bn\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Public Debt Shoots Up To Gh\u00a2 205.6 bn - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Public Debt Ghana\u2019s stock of public debt increased to GH\u00a2 205.6 billion at the end of July 2019. 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