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Business News of Saturday, 25 May 2019

Source: Myjoyonline.com

Debt stock goes up ¢22bn in 4 months

The country ended March 2019 with total debt stock hitting ¢198 billion, the Bank of Ghana’s summary of financial and Economic Data has revealed.

This was revealed after the Monetary Policy Committee of the Central Bank met to review the health of the economy as at May 2019.

Since November 2018 that BoG last released its data, the total debt stock has gone up by ¢22 billion in just 4 months. From March 2018 to March 2019, it's gone up by ¢51 billion. The total debt stock represents 57% of the country’s GDP.

Breakdown of the debt numbers

The BoG’s data showed that out of the ¢198 billion total debt stock, ¢105 billion was borrowed from outside the country or call it external debt.

The funds that were borrowed locally or domestic debt was ¢92.8 billion, representing 30.5% of Ghana’s GDP.