Compared to last year, the debt stock was worth GH₵587.7 billion, or 70.3% of GDP.
The most recent Bank of Ghana Summary of Economic and Financial Data, which was published in September 2024, included this information.
The figures indicated that the debt’s foreign component, which accounts for 46.1% of GDP, increased to US$31.6 billion from US$30 billion during the same time last year.
The amount of debt that came from domestic sources was GH₵290.9 billion, or 28.5 percent of GDP.
Ghana is presently seeking a US$3 billion bailout to aid in economic recovery through an International Monetary Fund (IMF) program.
On Monday, July 1, 2024, the nation got a third financing tranche of US$360 million after the Fund successfully reviewed Ghana’s performance.
Ghana has generally performed well under the program, according to the IMF.
To prepare for the distribution of the upcoming financial tranche, the IMF has started a third evaluation of the nation’s performance under the program.
Dr. Ernest Addison, the governor of the Bank of Ghana (BoG), had earlier counseled state authorities to start examining the review’s parameters.
On July 2, 2024, Dr. Addison made the call at a joint news conference with the Ministry of Finance and the IMF.
