Ghana’s public debt stock as of July 2022, hit ¢402.4 billion, according to the Bank of Ghana’s October 2022 Summary of Economic and Financial Data.

The debt rose by ¢9 billion. The total debt represents 68% of the Gross Domestic Product.

The World Bank had projected a debt-to-debt ratio of 104.6% by the end of 2022, in its latest Africa Pulse Report, in which it classified Ghana as a highly debt-distressed country.

The debt stock, in dollars, dropped from $54.4 billion in June to $53.2 billion in July 2022.

The external debt hovered at $28 billion, representing 35.8% of GDP.

The domestic debt went up from ¢190.1 billion in June 2022, to ¢190.3 billion in July 2022.

Since January 2022, the domestic debt has been on a study climb: ¢181.9 billion in January 2022, ¢185.4 billion in February 2022, ¢190.1 billion in March 2022, ¢189.2 in April 2022 and ¢188.5 billion in May 2022.

Credit: Classfmonline