External debts Ghana

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Debts

Ghana�s external debt came down drastically from US$6.2 billion at the beginning of 2006 to $2.2
billion last week when the International Monetary Fund (IMF) began a 100% debt reduction policy to Ghana and 18 other developing countries under the Multinational Debt
Relief Programme

IMF Debts

External debt as of September 1999

This data was put together by the World Bank. BANK FOR INTERNATIONAL SETTLEMENTS (International Monetary Fund)
Organization for Economic Co-operation and Development
THE WORLD BANK GROUP

Joint BIS-IMF-OECD-World Bank statistics on external debt


(in millions of US dollars)             1997       1998          1999
                                        Dec.    June Sep. Dec.   Mar.  June

External debt -all maturities

A. Bank Loans (3)                       1124    1084 1210 1287    1254
B. Non-bank trade credits (4)            235     219       193
C. Multilateral claims                  3365    3581 3573 3706    3604  3592
D. Official bilateral loans              991              1196



Debt due within a year

E. Liabilities to banks (5)               661     525      742
F. Non-bank trade credits (4)             100     102      129

ANALYSIS:
Ghana currently owes about $6.3 billion to foreign creditors
Ghana's population is about 17 million, therefore
Each person in Ghana owes (1/17,000,000)/6,300,000,000 = $370

*Note that this figure does not include Ghana's Domestic Debt.