Sunday, July 3, 2022
  • Home
  • About
    • Editorial Guidelines – Accuracy
    • Trust and transparency
  • Advertise
  • Login
  • Register
Ghana News - GhStandard
  • Home
    • General
    • Social
    • Religion
    • Education
    • Health
    • Environment
    • Science
  • Breaking
    • Latest News
    • Trending News
  • Politics
    • Opinions
    • Speeches
    • Profiles
  • Sports
  • Crime
    • Legal
  • Business
    • Economy News
    • Real Estate
    • Ghana – Economy
    • Finance News
    • List of Businesses
    • Life in Ghana
    • Faith and Business
    • Digital Marketing
  • Entertainment
    • Music Related
    • Movies
  • Lifestyle
    • Fashion News
    • Food Related
    • Travel News
  • Features
    • Profiles
    • Press Release
    • Obituary
  • World
No Result
View All Result
  • Home
    • General
    • Social
    • Religion
    • Education
    • Health
    • Environment
    • Science
  • Breaking
    • Latest News
    • Trending News
  • Politics
    • Opinions
    • Speeches
    • Profiles
  • Sports
  • Crime
    • Legal
  • Business
    • Economy News
    • Real Estate
    • Ghana – Economy
    • Finance News
    • List of Businesses
    • Life in Ghana
    • Faith and Business
    • Digital Marketing
  • Entertainment
    • Music Related
    • Movies
  • Lifestyle
    • Fashion News
    • Food Related
    • Travel News
  • Features
    • Profiles
    • Press Release
    • Obituary
  • World
No Result
View All Result
The Ghanaian Standard
No Result
View All Result
Home Economy

Ghana’s public debt hits ¢391bn as of Q1, 2022, 84.6% debt-to-GDP ratio

The Ghanaian Standard by The Ghanaian Standard
May 21, 2022
in Economy, Finance
Reading Time: 2 mins read
A A
Akufo-Addo - Ken Ofori-Atta
ShareTweetSend

Ghana’s public debt stock remarkably shot up by ¢40.1 billion to ¢391.9 billion as of the end of March 2022, the Summary of Economic and Financial Data by the Bank of Ghana has revealed.

The increase in the debt is due to largely exchange rate fluctuation and to some extent borrowings from the domestic market. In the first quarter of 2022, the cedi assumed a free fall to the dollar, but its depreciation was halted in April 2022, following monetary measures by the Bank of Ghana.

ADVERTISEMENT

However, in relation to the Gross Domestic Product of the country, the debt was estimated at 78%. This is slightly lower than the 80% recorded in December 2021.

According to the figures, the debt inched up by ¢20.5 billion in January 2022 and subsequently ¢19.7 billion in February 2022.

In terms of the domestic debt, it went up by ¢8 billion in the first quarter of 2022 to ¢189.9 billion in March 2021. This is equivalent to 37.8% of GDP.

Also, the external component of the total public debt shot up to $28.4 billion (¢201.9 billion) in March 2022, from $28.1 billion in December 2021. From the figures, clearly one can deduce that there were no borrowings from the external front in the first quarter of this year.

ADVERTISEMENT

The debt-to-GDP ratio of the external debt is however approximately 40.2% of GDP.

The cedi component shot up by ¢31.9 billion in the first three months of 2022, primarily due to the decline in the value of the cedi to dollar during the period.

On the other hand, the financial sector resolution bond went down to ¢14.6 billion in March 2022, from ¢14.9 billion recorded in December 2021. This is equivalent to 2.9% of GDP.

IMF forecasts Ghana’s debt-to-GDP ratio of 84.6% in 2022

The International Monetary Fund (IMF) had in its April 2022 Fiscal Monitor predicted Ghana’s debt to Gross Domestic Product (GDP) ratio of 84.6% in 2022.

According to the Fund, the country’s total debt was estimated at 81.8% of GDP in 2021, higher than the 80.1%, approximately ¢351.8 billion quoted by the Bank of Ghana.

The Fund also said the country’s debt-to-GDP ratio will increase from 2022 to 88.4% in 2026, before falling to 87.4% in 2027.

But prior to that, it will record relatively the same debt-to-GDP ratio of 84% in 2022 and 2023, and later surge to 85% and 86% in 2024 and 2025 respectively.

ADVERTISEMENT

SimilarNews

IMF

POLL: Should Ghana go to IMF?

July 3, 2022
John Awuah

Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

July 2, 2022
Dr Albert Touna-Mama

We’re ready to assist Ghana restore macroeconomic stability – IMF

July 2, 2022
John Dramani Mahama

Set your priorities right – Mahama tells Akufo-Addo on Republic Day

July 2, 2022
IMF Programme

Support Government’s economic programme – Akufo-Addo to IMF

July 1, 2022
Bank of Ghana

Don’t link your Ghana Card to your bank account via social media link – BoG warns

July 1, 2022
Tags: Bank of GhanaGhana economyGross Domestic ProductInternational Monetary Fund (IMF)

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT

Similar Topic

IMF

POLL: Should Ghana go to IMF?

July 3, 2022
John Awuah

Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

July 2, 2022
Dr Albert Touna-Mama

We’re ready to assist Ghana restore macroeconomic stability – IMF

July 2, 2022
Ghana Finance Minister, Ken Ofori-Atta

Here are the reasons why Ghana is going for IMF support

July 2, 2022
Ho Municipal Assembly to hold maiden investment expo

Ho Municipal Assembly to hold maiden investment expo

July 1, 2022
Economic Enterprise AGM

Enterprise Group records significant financial success in 2021

July 1, 2022
Bank of Ghana

Don’t link your Ghana Card to your bank account via social media link – BoG warns

July 1, 2022
Prof. Alex Dodoo sworn in as President of African Organisation for Standardisation

Prof. Alex Dodoo sworn in as President of African Organisation for Standardisation

July 1, 2022
Atwima Mponua Rural Bank records significant growth in profit

Atwima Mponua Rural Bank records significant growth in profit

June 30, 2022
Minority raises concerns over govt's alleged transfer of Ameri Power plant

Minority raises concerns over Govt’s alleged transfer of Ameri Power plant

June 30, 2022
Please login to join discussion
ADVERTISEMENT

Latest News

WTC Accra partners Altkom Akademia to provide live education in Africa

Shatta Wale headlines 2022 Ghana Party in the Park festival

Awudu Issaka urges old players to get involved in rejuvenation of national youth teams

Government must have an elevated outlook for the book industry – GIBF Chairman

GA East Municipal Assembly hands over medical items to Health Directorate

Tourism Ministry working towards the passage of Homeland Return Bill-Deputy Minister

POLL: Should Ghana go to IMF?

CAF postpones AFCON 2023 – CAF President Patrice Motsepe Confirms

Private Schools Association (GNAPS) calls for equal share of educational interventions

UER Chairman reiterates commitment to make GJA attractive

Prev Next
ADVERTISEMENT

Trending News

20 Most Profitable Business Ideas in Ghana 2022

Ghana Braids: 25 Lovely Ghana Weaving Hairstyles

Obuasi Floods: Scores displaced, properties destroyed

DStv Nigeria Packages, Channels, Prices

Here are the reasons why Ghana is going for IMF support

VGMA 2022 Winners: See full list of VGMA 23 Winners

CAF postpones AFCON 2023 – CAF President Patrice Motsepe Confirms

Set up provident fund schemes for employees, NPRA entreats employers 

LIVE: GPL Table 2022 – Ghana Premier League table 2022

Private Schools Association (GNAPS) calls for equal share of educational interventions

Prev Next
ADVERTISEMENT

Most Read

20 Most Profitable Business Ideas in Ghana 2022

New DStv Ghana Packages & Prices

Hisense Ghana: Showrooms, New Prices & Promotions

GOtv Ghana Packages, List of Channels & Prices

Ghana Braids: 25 Lovely Ghana Weaving Hairstyles

Best SHS in Ashanti Region – 2019 WASSCE Ranking

Best SHS in Ahafo Region – 2019 WASSCE Ranking

Best SHS in Ghana – 2019 WASSCE Ranking

Obuasi Floods: Scores displaced, properties destroyed

DStv Nigeria Packages, Channels, Prices

Prev Next
ADVERTISEMENT

Editor's Pick

Nursing Schools in Ghana 2022

Top 100 Best Hospitals in Ghana – 2021 (According to Survey)

Top 10 Business Opportunities in Ghana

Bank Charges in Ghana: Full Survey of Bank Charges – 2021

50 Profitable Online Business Ideas for Beginners [2022]

LIVE: GPL Table 2022 – Ghana Premier League table 2022

Best Universities in West Africa 2022

Best Banks in Ghana: Based on Financial Performance (2021)

Colleges of Education in Ghana

Accredited Universities in Nigeria

Ghana Cedi Exchange Rate

The Best Universities in Ghana – 2021 Ranking

10 Best Universities in Africa

Full List of Accredited Tertiary Institutions in Ghana

Prev Next
The Ghanaian Standard

The Ghanaian Standard brings you accurate Breaking News, Trends & Top Stories in Business, Politics, Lifestyle, Technology, and more from Ghana, Nigeria, Africa, and across the globe.

GhStandard.com - News made for discerning minds ...

Google News - The Ghanaian Standard, Ghana News
  • About
  • Contact
  • Advertise

© 2021 The Ghanaian Standard - Breaking News & Top Stories in Ghana, Africa, Business, & More | Powered by YellGh - Designed by EnspireFX.

No Result
View All Result
  • Home
    • General
    • Education
    • Health
    • Social
    • Religion
    • Tech
  • Breaking News
    • Latest
    • Trending
  • Politics
    • Opinions
    • Speech
  • Sports
  • Crime
    • Legal
  • Business
    • Economy
    • Finance
    • Finance & Investment
  • Sports
  • International
    • Cameroon
    • Cape Verde
    • DR Congo
    • Guyana
    • Kenya
    • Nigeria
    • South Africa
    • Qatar
  • Entertainment
    • Movies
    • Music
  • Lifestyle
    • Fashion
    • Food Related
    • Travel
  • Feature
    • Press Release
    • Profiles
    • Obituary
  • Editorial
    • Ethics and Guidelines
    • Trust and Transparency
HTML tutorial

© 2021 The Ghanaian Standard - Breaking News & Top Stories in Ghana, Africa, Business, & More | Powered by YellGh - Designed by EnspireFX.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In