In July 2022, Ghana’s public debt stock will reach GHS 402.4 billion, or 68% of GDP.

As of July 2022, Ghana’s public debt totaled GH 402.4 billion, or 68% of the nation’s GDP.

Ken Ofori-Atta, Finance MinisterKen 

From GH392.1 billion in March 2022 to GH388.1 billion in April 2022, GH389.2 billion in May 2022, and GH393.4 billion in June 2022, the debt stock only slightly increased.

The country’s debt, however, decreased somewhat in dollar terms from $54.4 billion in June 2022 to $53.2 billion in July 2022, according to the Central Bank.

The Bank of Ghana’s October 2022 Summary of Economic and Financial Data included this information.

The statistics indicated that Ghana had not recently taken out new loans on the international market.

The external debt, which is equivalent to 35.8% of GDP, remained constant at $28 billion.

The national debt did, however, go from GH190.1 billion in June 2022 to GH190.3 billion in July 2022.

In January 2022, the domestic debt was GH181.9 billion; in February and March of that same year, it increased to GH185.4 billion and GH190.1 billion, respectively. After that, it rapidly increased to GH 189.2 in April 2022 and GH 188.5 billion in May 2022.

The government’s excessive borrowing from the home market is to blame for the rise in domestic debt.

But because Ghana received the $750 million Afrieximbank loan in August 2022, its debt will rise to some extent.

In July 2022, Ghana's public debt stock will reach GHS 402.4 billion, or 68% of GDP.

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