{"id":751667,"date":"2019-11-25T16:19:33","date_gmt":"2019-11-25T16:19:33","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/11\/25\/ghanas-debt-stock-hits-gh%c2%a2208-6b-bog\/"},"modified":"2019-11-25T16:19:33","modified_gmt":"2019-11-25T16:19:33","slug":"ghanas-debt-stock-hits-gh%c2%a2208-6b-bog","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/11\/25\/ghanas-debt-stock-hits-gh%c2%a2208-6b-bog\/","title":{"rendered":"Ghana\u2019s Debt Stock Hits GH\u00a2208.6b &#8211; BoG"},"content":{"rendered":"<p><\/p>\n<div>\n<p>At the end of September 2019, Ghana\u2019s debt stock stood at GH\u00a2208.6 billion.<\/p>\n<p>This was contained in the November Bank of Ghana\u2019s summary of financial and economic data released after the Monetary Policy Committee met this week to review the \u201chealth\u201d of the economy.<\/p>\n<p><strong>Breakdown\u00a0 <\/strong><\/p>\n<p>The GH\u00a2208.6 billion total debt stock puts the country\u2019s debt-to-GDP ratio at 60.3 per cent ending\u00a0\u00a0 September. It is noteworthy that GH\u00a2107.2 billion of the debt came from loans taken from outside the country by government, which is about $20.1 billion. This constitutes about 31.1 per cent of the total value of the economy.<\/p>\n<p>Domestic debt stands at GH\u00a2101.4 billion, representing 29.4 per cent of the total value of the economy.<\/p>\n<p>The latest figure from the bank represents an increment of\u00a0 GH\u00a23.1 billion compared to the July debt stock of GH\u00a2205.5 billion. However, when you look at the year-on-year from September 2018 to September 2019, it went up by GH\u00a237.8 billion.<\/p>\n<p><strong>Reasons for the debt stock increase?<\/strong><\/p>\n<p>The increase in the debt stock over the past two months can be attributed to the cedi\u2019s marginal depreciation and recent funds advanced towards the clean-up of the banking and non-banking sectors of the economy.<\/p>\n<p>The data shows that the domestic debt component, from July 2019 to September 2019, went up from GH\u00a298 billion to GH\u00a2101.4 billion.<\/p>\n<p>Based on estimates outlined in the 2019 Supplementary Budget, the total cost of the financial sector clean-up could reach GH\u00a221 billion by the end of 2019.<\/p>\n<p>This was after the Finance Minister, Ken Ofori-Atta, projected in the budget that the clean-up could reach $3 to $4 billion by the end of 2019.<\/p>\n<p>In the 2020 Budget presentation, the Finance Minister updated the numbers. He noted that the total estimated cost for the government\u2019s fiscal intervention, excluding interest payments from 2017 to 2019 was estimated at GH\u00a216.4 billion.<\/p>\n<p><strong>Source: Myjoyonline<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>At the end of September 2019, Ghana\u2019s debt stock stood at GH\u00a2208.6 billion. This was contained in the November Bank of Ghana\u2019s summary of financial and economic data released after the Monetary Policy Committee met this week to review the \u201chealth\u201d of the economy. Breakdown\u00a0 The GH\u00a2208.6 billion total debt stock puts the country\u2019s debt-to-GDP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":751668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-751667","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana\u2019s Debt Stock Hits GH\u00a2208.6b - BoG - 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\/11\/25\/ghanas-debt-stock-hits-gh\u00a2208-6b-bog\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana\u2019s Debt Stock Hits GH\u00a2208.6b - BoG - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"At the end of September 2019, Ghana\u2019s debt stock stood at GH\u00a2208.6 billion. This was contained in the November Bank of Ghana\u2019s summary of financial and economic data released after the Monetary Policy Committee met this week to review the \u201chealth\u201d of the economy. Breakdown\u00a0 The GH\u00a2208.6 billion total debt stock puts the country\u2019s debt-to-GDP [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/11\/download.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/25\\\/ghanas-debt-stock-hits-gh%c2%a2208-6b-bog\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/25\\\/ghanas-debt-stock-hits-gh%c2%a2208-6b-bog\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Ghana\u2019s Debt Stock Hits GH\u00a2208.6b &#8211; 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This was contained in the November Bank of Ghana\u2019s summary of financial and economic data released after the Monetary Policy Committee met this week to review the \u201chealth\u201d of the economy. 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