Posted 3/22/2024, 8:23:19 PM
Ghana's Public Debt Stands at $52 Billion, Equivalent to 72.5% of GDP Despite Debt Relief Efforts
- Ghana's public debt reached GH¢610 billion ($52.4 billion) at end of 2023
- Debt equivalent to 72.5% of GDP, suggesting debt situation has not improved despite debt exchange program
- External debt was $30.1 billion (41.6% of GDP); domestic debt was GH¢259.7 billion (30.1% of GDP)
- Fiscal deficit to GDP ratio stood at 3.3% in December 2023, down from 8.3% in December 2022
- Ghana suspended interest payments to external creditors in December 2022 due to economic challenges
