Ghana’s public debt reaches GH¢29.6b in September 2012

Ghana’s public debt stood at GH¢29.6 billion (44.7% of GDP) at the end of September 2012, compared with a stock of GH¢23.9 billion (42.6% of GDP) in December 2011, the Bank of Ghana has said.

The total public debt stock was at GH¢25.3 billion, as at the end of February 2012. At the end of April, 2012 the public debt stock was GH¢25.8 billion and at the end of July 2012 it reached GH¢28.3 billion according to the central bank.

At a press conference of the Monetary Policy Committee of the Bank today November 14, 2012, where the policy rate was retained at 15%, the acting governor of the Bank of Ghana, Dr. Kofi Wampah said the domestic component of the total public debt was GH¢17.8 billion compared with GH¢11.8 billion at the end of 2011, while the stock of external debt was US$7.8 billion compared with US$7.6 billion in December 2011.

By Emmanuel K. Dogbevi