Ghana’s public debt hits GH₵658.6 billion

Ghana's public debt rose by GH¢47.4 billion in the first two months of 2024, reaching GH¢658.6 billion, equivalent to 62.7% of GDP.

External debt stands at GH₵380 billion (36.1% of GDP). This increase, partially due to cedi depreciation, was reported by the Bank of Ghana in May 2024.

Ghana's debt was GH¢611.2 billion at the end of 2023 and grew to GH¢626 billion in January 2024.

In response to the COVID-19 pandemic's impact, Ghana sought a $3 billion IMF bailout.

The IMF projects a decline in Ghana’s debt-to-GDP ratio, expecting it to fall to 69.7% by 2029.

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