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During the 2024 mid-year budget review delivered in parliament in Accra, Finance Minister Dr. Mohammed Amin Adam disclosed that Ghana’s provisional total debt stood at GH¢742 billion (US$50.9 billion) as of June this year.
This represents 70.6 percent of the Gross Domestic Product (GDP).
Dr. Adam explained that the 22.0 percent increase in the total debt was due to the depreciation of the cedi and ongoing disbursements from creditors.
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The debt stock consists of GH¢452.0 billion in external debt and GH¢290.0 billion in domestic debt, accounting for 60.9 percent and 39.1 percent of the total debt, respectively.
In terms of GDP, external debt and domestic debt represented 43.0 percent and 27.6 percent, respectively.
