Ghana’s debt stock nears GH¢100m

Ghana’s total debt stock is much more close to the GH¢100 million earlier predicted by some economists.

This follows the country’s issuance of the US$1 billion Eurobond on the international market on Wednesday at a coupon rate of 10.75%.

This amount translates into a cedi equivalent of GH¢3.7438 billion considering the Bank of Ghana’s (BoG) prevailing forex rates.

A dollar is now trading to a Cedi equivalent of GH¢3.7438.

Ghana’s debt stock as at the last Monetary Policy Committee (MPC) meeting was GH¢94.5 billion. Added to the GH¢3.7438 billion, the country’s total debt stock now stands at GH¢98.2438 billion, nearing the GH?100 billion predicted by the Economist and Member of Parliament for New Juaben South, Dr. Mark Assibey-Yeboah sometime ago.

Dr. Assibey Yeboah and some other Economists have earlier predicted that the country’s total public debt may hit the GH¢100 billion threshold by the close of the year.

With barely three months to close the year, there are further indications that the country’s public debt stock may even exceed the GH¢100 billion.