Grapevine

By My Joy Online
Jul 26, 2024

Cedi depreciation hikes Ghana’s debt to GH¢742bn in first half of 2024

Dr. Amin Adam

The Finance Minister, Dr Mohammed Amin Adam, says cedi depreciation hiked Ghana’s debts from an initial amount of GH¢608 billion in 2023 to GH¢742.0 billion in the first half of 2024.

He said the development showed an increase of 22 per cent in Ghana’s debt due to the effect of the Cedi depreciation and disbursements from creditors.

The Minister said the debt stock consisted of external debt of GH¢452 billion and domestic debt of GH¢290 billion, representing 60.9 per cent and 39 per cent of the total debt stock, respectively.

He stated that external and domestic debt accounted for 43.0 per cent and 27.6 per cent of Gross Domestic Product (GDP), respectively.