Ghana’s debt stock rises by GHC13.1bn between May and July
Ghana’s public debt stock rose by GHC13.1 billion between May and July, driven mainly by an increase in domestic borrowing, according to the Bank of Ghana’s latest economic and financial data.
The total debt stock increased from GHC720.8 billion in May to GHC733.9 billion in July, despite a marginal decline to GHC719.5 billion in June.
In dollar terms, however, the debt stock was relatively stable over the period, moving from $61.5 billion in May to $63.4 billion in June before easing to $62.8 billion in July.
Domestic debt accounted for most of the increase, rising from GHC379.1 billion in May to GHC396.7 billion in July — an increase of GHC17.6 billion.
External debt, meanwhile, declined slightly in dollar terms from $28.9 billion to $28.8 billion over the same period.
In cedi terms, external debt fell from about GHC341.7 billion in May to GHC337.2 billion in July.
The figures put Ghana’s total public debt at about 45.9 percent of gross domestic product, with domestic debt accounting for approximately 24.8 percent of GDP.
The latest data come as the government continues to pursue measures aimed at containing debt accumulation while meeting its fiscal obligations.
The increase in domestic borrowing raises questions about whether the rise is temporary or reflects renewed financing pressures on the government.
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