Ghana's debt stock hits GH¢286.9 billion
Pressure mounts on government to slow down on debt accumulation
Jonas Danquah 
New figures release by the Bank of Ghana (BoG) has shown the a further deterioration of the country's debt situation.
Per the latest update, as reported by 'Citinewsroom', Ghana's total public debt stock at the end of 2020 rose to GH¢ 286.9 billion representing a year-on-year increase of 23.95% over the total public debt stock recorded at the end of the year 2019.
The new debt figure pushes Ghana’s debt to GDP ratio to 74.4 % at the end of 2020 from 62.4 % recorded at the end of 2019.
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A breakdown of the debt numbers shows that the component of the debt secured outside the country remained relatively stable in the last two quarters of 2020, rising marginally (GH¢ 3 billion) to GH¢ 139.6 billion, and this is about 36.2% of the total value of the economy which is projected to be about GH¢ 385 billion.
On the other hand, the component of the debt secured locally has risen significantly in the last 2 quarters of 2020 (GH¢ 25 billion) to GH¢147.3 billion, representing 38.2 percent of GDP.
