Ghana’s public debt stands at GH¢43.9 billion (49.5 per cent of GDP) at end of August 2013, according to a recent report by the Monetary Policy Committee of the Bank of Ghana.
As of December 2012, the country’s public debt stood at GH¢35.1 billion. Thus, over the last eight months, Ghana has incurred a debt of
According to the report , the domestic component amounted to GH¢24 billion compared to GH¢18.5 billion in December 2012 while external debt stood at US$10.2 billion, up from US$8.8 billion in December 2012.
The report attributed the increase in the external debt mainly to the sovereign bond issue.
It said the country’s total revenue and grants were GH¢10.4 billion, lower than the target of GH¢12.5 billion mainly as a result of shortfalls in domestic revenue collections and low disbursement of grants.
The report further noted that the total domestic and tax revenues totalled GH¢9.8 billion and GH¢7.7 billion respectively, below the targets of GH¢11.6 billion and GH¢9.1 billion respectively.