Ghana’s debt hit 76.1 billion cedis by the close of last year up from the 51.9 billion cedis it recorded in 2013.<\/p>\n
This means government borrowed 24.2 billion cedis last year alone.<\/p>\n
[contextly_sidebar id=”nj6s2CDziFwGkK1MORdY6iF6YWH9tbe0″]Critics have warned Ghana\u2019s continues appetite for borrowing will push it to soon become a Highly Indebted Poor Country (HIPC).<\/p>\n
Figures from the bank of Ghana released yesterday after its monetary policy committee meeting show the domestic debt of the country hit GH\u00a234.6 billion equivalent to 30.5% of the country\u2019s total value of goods and services last year, that is the (GDP).<\/p>\n
This figure is up from the GH\u00a226.7 billion recorded in 2013 at 28.4% of the total value of goods and services recorded in 2013.<\/p>\n
While external debt stood at US$13 billion 36.6% of GDP (which is total value of goods and services) at the end of 2014, up from US$11.5 billion 26.9% of GDP recorded in 2013.<\/p>\n
The total of both domestic and external debt leaves Ghana with a total debt stock of 76.1 billion which is 67.1% of last year\u2019s GDP.<\/p>\n
Government intends to borrow about twice the amount it did from the domestic market last year through bonds and treasury bills in the first half of 2015 alone.<\/p>\n
It will borrow about 25.4 billion cedis in debt, which is over 100 percent more than what it raised in the first 6 months of last year.<\/p>\n
In the first half of last year it borrowed about 12.1 billion cedis.<\/p>\n
In January 2015, government borrowed about 3.5 billon cedis from the domestic market.<\/p>\n
This amount is about 68% higher than the 2.1 billion cedis raised in January last year.<\/p>\n
Of this amount about 1.92 billion was raised through 91 and 182-day bills while 1.6 billion cedis was raised through one and two year notes.<\/p>\n
In February, government intends raising about 4.15 billion cedis, twice the amount it raised in February, 2014.<\/p>\n
Same amounts for the 91, 182 day, 1 and 2 year notes will be raised as it was for January. However a 3 year bond will be issued on 19th February, 2015 to raise an amount of 630million cedis.<\/p>\n
Last year the 3 year bond issued was 402million cedis. The same bills, notes and bonds issued in February will also be issued in May.<\/p>\n
In March, 4.84billion cedis will be raised in domestic debt, more than twice what was raised last year.<\/p>\n
2.4billion cedis will be raised through 91 and 182 day bills while 2billion cedis will be raised through 1 and 2 year notes.<\/p>\n
In addition a 5 year bond will be issued to raise 440 million cedis.<\/p>\n
The same bills, notes and bonds issued in March will also be issued in June to raise the same amounts.<\/p>\n
In April 2015, government intends to borrow 3.92 billion cedis from the domestic market which is about 1.84 billion cedis more than what was borrowed same month last year.<\/p>\n
Prominent in these debt instruments will be the first 7 year bond to be issued in 2015. Government will raise an amount of 400million cedis through this bond.
\nBy: Vivian Kai Mensah\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Ghana’s debt hit 76.1 billion cedis by the close of last year up from the 51.9 billion cedis it recorded in 2013. This means government borrowed 24.2 billion cedis last year alone. [contextly_sidebar id=”nj6s2CDziFwGkK1MORdY6iF6YWH9tbe0″]Critics have warned Ghana\u2019s continues appetite for borrowing will push it to soon become a Highly Indebted Poor Country (HIPC). Figures from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[21,4],"yoast_head":"\n