Financial data: Public debt hits GH₵575.7bn in November 2022  

Ghana’s total public debt stock rose to GH₵575.7 billion at the end of November 2022, financial data shows.

This represents about 93.5% of Gross Domestic Product (GDP).

According to Bank of Ghana’s January 2023 summary of economic and financial data the debt stock increased by GH₵108.3 billion between September and November 2021.

This triggered a debt restructuring in which the Domestic Debt Exchange Programme is expected to end on January 31, 2023.

According to financial data from the Central Bank, the external component of the total public debt shot up to $29.2 billion (GH₵382.7 billion) in November 2022, equivalent to 62.1% of GDP.

This was from $28.4 billion (GH₵271.7 billion) in September 2022 and $28.3 billion in December 2021.

From the figures, the about 37% depreciation of the cedi to the dollar in 2022 was the main cause of the significant jump in the cedi component of the external debt.

In terms of the domestic debt, it stood at GH₵194.7 billion at the end of December 2022, about 31.6% of GDP.

This is against GH₵195.7 billion recorded in September 2022 and ¢193.1 billion in November 2022.

About GH₵137 billion of the domestic debt is being restructured for a period of 12 years.