Wed. Oct 23rd, 2019

GHC 21.4 Billion adds to Ghana’s Debt in three months

The earlier data released by the Bank of Ghana (BoG) confirms that Ghana’s total debt stock has increased by GHC 21. 4 billion in the first quarter of 2019.

Confirming the data released by the Bank of Ghana is well explained that Ghana has added GHC 21.4 billion to its debt stock from January and March 2019.


The data vividly confirmed Ghana’s total debt now stands at GHC 198 billion , increasing from GHC 176 billion in January 2019.

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CitiBusinessnews report;
Per the breakdown, the debt stock as a percentage of the Gross Domestic Product is at 57.5 percent.
The external component of the debt is at 20.7 billion dollars which translates into 105.2 cedis.
The data further showed that Ghana’s domestic debt was 92.8 billion cedis in the same period representing 30. 5 percent of the GDP.
Banking sector performance
In the banking sector, the data showed that Non-Performing Loans in the banking sector increased marginally to 18.9 percent in April from 18.4 percent in January 2019.
Total assets of banks increased to 73.1 billion cedis from 70. 5 billion cedis representing an increase to 19.6 percent from 19.3 percent in the same period under review.

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Import and export
On the external front, Ghana’s Total Export by April this year hit 5.39 billion dollars as against 4.1 billion dollars of imports.
The breakdown shows that Gold fetched the country 1.95 billion dollars while cocoa and oil brought in 1.0 billion dollars and 1.45 billion dollars respectively.
On the other side, Ghana imported 778.3 million worth of oil and 3.32 billion dollars of non-oil goods under the same period.

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Source: kethmediaonline

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