Ghana’s total debt stock has increased by over $4 billion in three months

The Bank of Ghana has released data which shows that the country’s total debt stock increased by GHC21. 4 billion ($4,075, 095, 000) in the first quarter of this year.

Dollar bills

This implies that from January to March 2019, Ghana added GHC21.4 billion to its debt stock.

The BoG’s data showed that Ghana’s total debt now stands at GHC198 billion ($37,704,150,000) from GC176 billion ($33,514,800,000) in January 2019.

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.

The data further showed that Ghana’s domestic debt was GHC92.8 billion ($17,671,440,000) in the same period representing 30. 5 percent of the GDP.

The data also showed that Non-Performing Loans in the banking sector increased marginally to 18.9% in April from 18.4 percent in January 2019.

The total assets of banks increased from GHC70. 5 billion ($13,424,962,500) to GHC73.1 billion ($13,920,067,500). This represents an increase of 19.6 percent from 19.3 percent in the same period under review.

Meanwhile, 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 while cocoa and oil brought in $1 billion and $1.45 billion 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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Email: news@pulselive.co.ke

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