The Minister of Finance, Dr. Mohammad Amin Adam, revealed that the government’s provisional total debt stood at GH¢742 billion (US$50.9 billion) as of June this year.
This figure represents 70.6 percent of the gross domestic product (GDP). “Due to the devaluation of the cedi and continued payment of creditors, this represents an increase of 22.0 percent,” the Karaga MP said at the mid-year review of the 2024 budget at Parliament in Accra on Tuesday.
He added that “the debt is made up of external debt of GH¢452 billion and domestic debt of GH¢290 billion, which account for 60.9 percent and 39.1 percent of the total debt, respectively.
External and domestic debt stood at 43.0 percent and 27.6 percent, respectively.”
