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Ghana's debt is US$ 7.65 billion

Fri, 14 Nov 2008 Source: GNA

Ghana's debt, including contingent liability from COCOBOD, at the end of last September stood at US$ 7,652.46 million, Dr Anthony Akoto Osei, a Minister of State at the Ministry of Finance has told Parliament.

The debt, he said, was made up of US$3,990.38 for external, including that of the COCOBOD of US$ 118.75 million, and a domestic debt of US$ 3,662.

Dr Osei gave the figures on Thursday on the floor of the House as he answered an urgent question asked by Mr Abuga Pele (NDC-Chiana Paga), in the name of Dr Benjamin Kumbuor (NDC/Lawra Nandom) on what was the total debt portfolio as at October 31, 2008.

Amidst heckling, attempts were made by some Members of the largest Minority National Democratic Congress (NDC) to get the breakdown of the debt, how much of the national debt the ruling and majority New Patriotic Party (NPP) had paid since it came to power in 2001. However, both Mr Freddie Blay, First Deputy Speaker who presided and the Minister advised that the questions be posed "properly" for answers to be provided.

The House also approved the power granted the Minister responsible for Finance by Parliamentary Statute waive such stamp duty on receivables-backed Trade Finance Facility of US$ 1 billion for cocoa purchases by the Ghana Cocoa Board for the 2008 /2009 crop season.

Source: GNA