Saturday , September 19 2020

GHANA’S DEBT INCREASES TO 170.8 BILLION CEDIS – BOG

Ghana’s total debt stock has reached 170.8 billion cedis as at September 2018.

A summary of economic figures released by the Bank of Ghana shows that between July and August 2018, the country added 11.4 billion cedis to its debt stock.

But calculating this as a percentage of GDP, Ghana’s debt represents 57.2 percent.

The country, within the period accumulated an external debt component of 86.6 billion cedis while the domestic debt component has reached 84.2 billion cedis.

 

Meanwhile as at October this year, the country’s total exports reached 12.54 billion dollars. Of this, gold generated the highest revenue of 4.7 billion dollars.

It was followed by oil which raked in 3.83 billion dollars in revenue with cocoa placing third with its export revenue reaching 1.67 billion dollars.

On the banking sector, the total Non-Performing Loans (NPLs) increased marginally to 20.1 percent in October after dropping to 20 percent the preceding month.

 

Again, the total deposits of all banks remained at 67.5 billion cedis in nominal terms, but increased by 20.9 percent on a year on year basis.

Source: citinewsroom

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