As a result, Ghana's total public debt increased to GH332.4 in May 2021, bringing the debt-to-GDP ratio to 76.6 percent at the end of the month.
This is the highest debt-to-GDP ratio in the last year, according to Central Bank data, and is only slightly higher than the debt-to-GDP ratio of 76.1 percent recorded at the end of 2020.
The foreign debt breakdown shows that after being reasonably stable in the first quarter, the external debt component increased by GH20 billion from GH141 billion at the end of March 2021 to GH161.5 billion at the end of June 2021.
t the end of May 2021, the percentage of external debt component had risen to 37.2 percent of the overall value of the economy, which is expected to be around GH434 billion in 2021.
Domestic debt, on the other hand, grew steadily in the first five months of 2021.
Ghana's domestic debt increased by GH7 billion at the conclusion of the first quarter, bringing total domestic debt to GH170.8 billion at the end of May 20.
For the year 2021, the new GDP projection is 39.4 percent.
At the end of May 2021, the total public debt for banking sector resolution bonds was GH15.2 billion.
The IMF's Debt Sustainability Analysis (DSA) shows that Ghana remains at high risk of external and overall debt distress under the baseline, even though public debt is assessed as sustainable going forward, according to a statement issued by the Executive Director for Ghana and the International Monetary Fund's 2021 article IV press release. Ghana's debt-to-GDP ratio is expected to increase to 83.5 percent by the end of 2021, according to the Bretton Woods Institution.
Content created and supplied by: MyNigga123 (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More