According to Finance Minister Dr. Mohammed Amin Adam, the total amount of government debt as of June 2024 was GH¢742.0 billion (US$50.9 billion).
This amounts to 70.6% of the nation’s GDP, in his estimation.
“This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and the continuous disbursements from creditors,” he remarked on July 23 during the 2024 mid-year budget review in parliament.
According to the ministry of finance, GH¢290.0 billion was domestic debt, or 39.1% of the overall debt, while GH¢452.0 billion was external debt, or 60.9 percent.
