It is quite unfortunate that many Ghanaians do not know the financial standing of the country. The country has been borrowing from other nations and organizations world wide, all in the name of fostering development at the various corners of the country. Due to this, Ghana owes billions of dollars to the foreign agencies. In this article, you will be educated on the current amount Ghana owes as the government continues to borrow.
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Ghana's total debt stock passed by ¢3.5 billion two months ago to hit ¢335.9 billion ($57.9 billion) toward the finish of July 2021, the most recent Summary of Economic and Financial Data by the Bank of Ghana has uncovered. According to a research from Myjoyonline.com, this is comparable to 76.4 percent of GDP.
In July 2021, the government said in the that borrowing will slow in the third quarter of this year , with the government expecting to borrow less than a billion cedis for the three months. Many people will be watching to see if it shows up in the August and September 2021 data, which will be issued later. This is because as it stands now, no one knows the decision to be taken by the NPP.
As indicated by the information from the Bank of Ghana, the total amount of debt went up to ¢173.9 billion in July 2021, from ¢170.8 billion in May 2021. This huge sums of money which a debt to the country took its roots from the various past and gone leadership till this date. The adverse effect and consequences will be beared on the future generations to come, and through this, eliminating poverty amongst Ghanaians can be one of challenging situations that country may never escape. Please click on the +Follow button to receive more updates.
These are therefore some of the figures indicating the amount of dollars our dear country owes. What are doing as a nation. Are we going to continue borrowing like this forever. Please drop your comments below and do not forget to share.
Source : www. ghbase. com
Bank of Ghana.
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