Ghana’s total debt stock increased by 1.4 billion cedis between April and May 2015.<\/p>\n
[contextly_sidebar id=”L3eQ6MzdG6JfTIhCz1mobbRiBGDGgO7i”]According to figures from the Bank of Ghana the total debt stock as at May 2015 stood at 89.5 billion cedis which is 67.1% of Gross Domestic Product (GDP).<\/p>\n
In April the country’s total debt stock stood at 88.1 billion cedis, representing 66.1% of GDP.<\/p>\n
This was contained in the BoG’s summary of economic and financial data for July 2015.<\/p>\n
According to figures from the Bank of Ghana the country’s external debt stock has increased by 1.7 billion cedis.<\/p>\n
The figure as at May this year was at 53.8 billion cedis representing 40.4% of GDP.<\/p>\n
The external debt stock as at April was 52.1 billion cedis representing 39.1%.<\/p>\n
Interestingly the country’s domestic debt stock reduced by 300 million cedis between April and May, 2015.<\/p>\n
According to the Central Bank the total domestic debt stock as at May 2015, stood at 35.7 billion cedis standing at 26.7% of GDP.<\/p>\n
In April 2015, domestic debt stood at 36 billion cedis representing 27% of GDP.<\/p>\n
The International Monetary Fund (IMF) has categorized Ghana as a high-risk distress country.<\/p>\n
Responding to a question on the status of Ghana’s 1billon Eurobond at a press conference in Washington DC last month, IMF Communication Director, Gerry Rice, said<\/p>\n
“For countries at high-risk distress like Ghana, reducing the debt burden and associated vulnerability is a priority so the authorities have to be very selective with regards to new non-concessional borrowing since that can escalate.<\/p>\n
\u201cSo Fund policies are flexible, they can accommodate some non-concessional borrowing if indeed it is intended to finance critical and profitable projects for which concession finances are not available.\u201d<\/p>\n
–<\/p>\n
By:\u00a0 Rabiu Alhassan\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Ghana’s total debt stock increased by 1.4 billion cedis between April and May 2015. [contextly_sidebar id=”L3eQ6MzdG6JfTIhCz1mobbRiBGDGgO7i”]According to figures from the Bank of Ghana the total debt stock as at May 2015 stood at 89.5 billion cedis which is 67.1% of Gross Domestic Product (GDP). In April the country’s total debt stock stood at 88.1 billion […]<\/p>\n","protected":false},"author":14,"featured_media":30875,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[21,4],"class_list":["post-135073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-psychiatric","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/135073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=135073"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/135073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/30875"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=135073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=135073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=135073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}