Ghana’s Debt Rises By GH¢10 Billion In Q4, Ends 2021 At 80.1% Of GDP
Ghana’s debt accumulation, which showed signs of decline in Q3 2021, accelerated in the last quarter of the year as the country added GH¢10 billion to its debt compared to the previous quarter.
According to data from the Bank of Ghana, public debt ended 2021 at GH¢351.8 billion, up from GH¢341.8 billion in October 2021. Debt accumulation in the last and final quarter of last year, therefore, translated to a quarter-on-quarter growth of 2.9 percent, thus, between October and December 2021.
The debt level as of December last year, accounted for 80.1 percent of the country’s Gross Domestic Product compared to 76 percent in December 2020. This means the country’s debt has moved deeper into distress just as Bloomberg earlier warned in an article.
