Finance Minister Dr. Mohammed Amin Adam revealed that the central government’s provisional total debt reached GH¢742 billion (US$50.9 billion) as of June this year. This amount accounts for 70.6 percent of the Gross Domestic Product (GDP).
During the 2024 mid-year budget review in Parliament in Accra on Tuesday, Dr. Adam remarked, “This indicates a 22.0 percent increase due to the depreciation of the cedi and ongoing disbursements from creditors.”
He further detailed, “The debt stock comprises GH¢452.0 billion in external debt and GH¢290.0 billion in domestic debt, representing 60.9 percent and 39.1 percent of the total debt stock, respectively.
“As a percentage of GDP, external debt and domestic debt accounted for 43.0 percent and 27.6 percent, respectively.
