Ghana’s public debt hits GHC99.9bn

Ghana’s public debt has increased from GHC96.9 billion to GHC99.9 billion as of December 2015, according to the Central Bank.

External debt now stands at GHC59.9 billion cedis with domestic debt hitting 40 billion Ghana cedis.

The figures are contained in the latest Bank of Ghana Summary of Economic and Financial Data released over the weekend.

The public debt is defined as how much a country owes to lenders outside of itself. These can include individuals, businesses and even other governments.

There have been concerns about the inability of government to stay within its spending limit.

However, President John Mahama in his State of Nation address earlier this year said government is committed to ensuring it stays within its budget, especially this election season.