Ghana’s debt stock hits Ghc236.1bn in 2020 Q1

Dr Ernest Addison, the Governor of the BoG

The debt stock of Ghana for the first quarter of 2020 is GhC236.1 billion, according to the Bank of Ghana.

This means that the country’s debt stock increased by 16.9 billion cedis in the first quarter of 2020 – January to March.

The figures contained in the Central Bank’s Summary of Economic and Financial Data represents an increase of 59.3 per cent of the GDP.

The debt stock for the domestic side stood at 111.3 billion cedis, while the external component of the debt reached 124.8 billion cedis.

According to the report, total Assets of banks grew from 111.2 billion cedis in March 2019, compared to 133.5 billion cedis in March 2020. Total deposits also increased from 73 billion cedis to 84 billion cedis within the same period.

On the external sector development, the data showed that Ghana’s total export receipts dropped to 3.9 billion dollars in March 2020, compared to 4 billion dollars in March 2019.

Gold fetched the country 1.4 billion dollars, while cocoa and oil brought in 959.5 million dollars and 874.1 million dollars respectively by the first quarter of the year.

On the import side, total import within the first three months of the year stood at 2.9 billion dollars. Import of oil recorded 511 million dollars while non-oil import was at 2.48 billion dollars.

Source: Daily Mail GH

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