GhArticles.com Every News in Detail
Did you know that by being a Ghanaian citizen, you owe around GH¢24,000? This is due to the increase in Ghana’s total debt stock.
Finance Minister Mohammed Amin Adam announced that Ghana’s debt has surged from GH¢658 billion in February 2024 to GH¢742 billion (US$50.9 billion).
This debt level is equivalent to 70.6 percent of the Gross Domestic Product (GDP).
The debt includes GH¢452 billion in external debt and GH¢290 billion in domestic debt.
The government attributes this increase to the depreciation of the cedi and ongoing disbursements from creditors.
With the central government’s provisional total debt at GH¢742 billion, each of Ghana’s 30 million citizens effectively owes about GH¢24,000.
At the end of 2023, Ghana’s debt stood at GH¢611.2 billion, rising to GH¢626 billion in January 2024, and further to GH¢658.6 billion in February 2024.
