{"id":1096232,"date":"2022-05-23T09:11:15","date_gmt":"2022-05-23T09:11:15","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/05\/23\/cedi-depreciation-pushes-ghanas-debt-to-over-gh%c2%a2390-bn-in-april-78-of-gdp\/"},"modified":"2022-05-23T09:11:15","modified_gmt":"2022-05-23T09:11:15","slug":"cedi-depreciation-pushes-ghanas-debt-to-over-gh%c2%a2390-bn-in-april-78-of-gdp","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/05\/23\/cedi-depreciation-pushes-ghanas-debt-to-over-gh%c2%a2390-bn-in-april-78-of-gdp\/","title":{"rendered":"Cedi depreciation pushes Ghana\u2019s debt to over GH\u00a2390 bn in April; 78% of GDP"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Recent data released by the Bank of Ghana puts Ghana\u2019s total public debt stock as of March 2022, at US$ 55.1 billion or GH\u00a2391.9 billion.<\/p>\n<p>In Dollar terms, the debt dropped by over $3 billion in the first 3 months of the year, from $58.4 billion in January to $55.1 billion in March.<\/p>\n<p>In Cedi terms, however, the total debt stock within the first 3 months of this year increased by about GH\u00a2 40 billion, from GH\u00a2351.7 billion in January 2022, to GH\u00a2391.9 in March 2022.<\/p>\n<p>The March 2022 debt figure brings Ghana\u2019s debt to Gross Domestic Product (GDP) ratio to 78%, using a projected GDP for 2022 of about GH\u00a2502 billion.<\/p>\n<p>Year-on-year growth<\/p>\n<p>A look at the data from the Central bank shows that year-on-year, from March 2021 to March 2022, the debt stock rose by about 30% from GH\u00a2304.6 billion to GH\u00a2391.9 billion.<\/p>\n<p>Domestic debt<\/p>\n<p>A further breakdown of the debt numbers shows that the component of debt secured locally rose by GH\u00a28 billion from GH\u00a2 181.9 billion in January to GH\u00a2 189.9 billion in March, which represents about 38% of the projected GDP for 2022.<\/p>\n<p>External debt<\/p>\n<p>The external component of the debt, increased significantly by about GH\u00a2 32 billion in the first 3 months of 2022, from GH\u00a2169.8 billion in January to GH\u00a2201.9 billion in March.<\/p>\n<p>Impact of Cedi depreciation<\/p>\n<p>The overall surge in the debt figure in Cedi terms came largely from the over 15% depreciation of the cedi against the dollar from January to March 2022.<\/p>\n<p>Data from the Central Bank showed that the US Dollar sold at GH\u00a26.02 at the end of January 2022 and at GH\u00a27.11 at the end of March 2022.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recent data released by the Bank of Ghana puts Ghana\u2019s total public debt stock as of March 2022, at US$ 55.1 billion or GH\u00a2391.9 billion. In Dollar terms, the debt dropped by over $3 billion in the first 3 months of the year, from $58.4 billion in January to $55.1 billion in March. In Cedi [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1096235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[3511,672,1580,2129,1984,14607,250,592],"class_list":["post-1096232","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-april","tag-cedi","tag-debt","tag-depreciation","tag-gdp","tag-gh390","tag-ghanas","tag-pushes"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1096232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1096232"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1096232\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1096232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1096232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1096232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}