Ghana’s public debt hits GH¢761.1 billion

As of July 31, 2024, Ghana’s provisional nominal central government debt stood at GH¢761.1 billion, equivalent to US$51.1 billion, according to Finance Minister Dr. Mohammed Amin Adam. This reflects an increase from the previous GH¢587.7 billion, equivalent to US$53.5 billion.

Dr. Adam highlighted the impact of the cedi‘s depreciation during the monthly Economic Update at the Finance Ministry in Accra, stating, “The increase in cedi terms and decrease in US dollar terms is attributed to a combination of factors, including cedi depreciation, disbursements from multilateral institutions, and domestic financing of the budget.”