Ghana’s debt stock increases by 3million cedis

According to new figures released by the Bank of Ghana(BOG), Ghana’s debt stock as at September 2017 hit 138.9 billion cedis.

The figure was contained in the summary of the economic and financial data released after members of Monetary Policy Committee (MPC)of the bank met.

The Governor of the Bank of Ghana, Dr Ernest Addison who chairs the committee is set to announce the policy rate.

It is not clear if the rate will be reduced after it was maintained at 21% at the last MPC meeting.

Breakdown of the figures indicate that debt stock increased marginally by 3million cedis compared to the three billion recorded in June this year.

Ghana debt to GDP ratio as at September 2017 was at 68.6 %.

The domestic debt component is at 63.3 billion cedis while external debt stood at 17.2 billion dollars.