Ghana\u2019s public debt stock for September 2021 reached GH\u00a2341.8 billion<\/b><\/p>\n Debt-to-GPD ratio projected to reduce to 65% in 2024<\/p>\n Ghana piled up GH\u00a250 billion of debt from 2020, Bank of Ghana<\/p>\n Director of the Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana, Professor Peter Quartey has urged government to be measured when it comes to borrowing in the 2022 fiscal year. <\/p>\n According to him, though government cannot entirely shy away from borrowing in the period, it must ensure that it remains keen on its debt management strategy to prevent more debt accumulation. <\/p>\n In an interaction with Citi Business News, the ISSER Director explained the move will also reduce the country\u2019s debt-to-GDP ratio in the medium to long term. <\/p>\n \u201cGovernment will certainly have to borrow. How much they borrow will depend on how much revenue they are able to raise. I however don\u2019t expect that at our current debt-to-GDP ratio which is very high, the government would borrow like it used to in the past. It certainly has to be circumspect,\u201d he pointed.<\/p>\n \u201cIf it wants to borrow, then it will have to factor that into where we are and where we plan to get to. Last year\u2019s budget saw some projections that were trying to get the debt-to-GDP ratio down to 65% by 2024. I hope and believe that government will follow that trajectory to enable the country to get to a sustainable debt threshold in the medium to long-term,\u201d Prof. Quartey added.<\/p>\n Already, figures released by the Bank of Ghana show that the country\u2019s public debt stock as of September 2021 reached GH\u00a2341.8 billion which is equivalent to 77.8 percent of Ghana\u2019s Gross Domestic Product (GDP).<\/p>\n On the domestic debt front, Ghana\u2019s accumulated GH\u00a2178.1 billion while that of the external debt reached GH\u00a2163.7 billion. <\/p>\n Meanwhile, in the first nine months of 2021, the Bank of Ghana said the country added GH\u00a250 billion of debt which was carried from 2020.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Professor Peter Quartey, Economist and Director of ISSER Ghana\u2019s public debt stock for September 2021 reached GH\u00a2341.8 billion Debt-to-GPD ratio projected to reduce to 65% in 2024 Ghana piled up GH\u00a250 billion of debt from 2020, Bank of Ghana Director of the Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana, […]<\/p>\n","protected":false},"author":1,"featured_media":211393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-743139","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/743139","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=743139"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/743139\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=743139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=743139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=743139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Professor](\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2021\/08\/96202432.295.jpg\" "\\"Professor")
Professor Peter Quartey, Economist and Director of ISSER<\/span><\/span><\/p>\n<\/div>\n