Ghana’s Public Debt Rises to GH¢742bn

Dr. Mohammed Amin Adam, the Finance Minister, announced that Ghana’s provisional total public debt has reached GH¢742 billion (US$50.9 billion) as of June 2024. This amount constitutes 70.6 percent of the country’s Gross Domestic Product (GDP).

Presenting the 2024 mid-year budget review in parliament on Tuesday, Dr. Amin Adam noted, “This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and continuous disbursements from creditors.”

He further elaborated, “The stock consists of external debt of GH¢452.0 billion and domestic debt of GH¢290.0 billion, representing 60.9 percent and 39.1 percent of the total debt stock, respectively.”