Ghana’s Central Bank has revealed that the country’s total debt stock has reached GHc170.8 billion.
This is from the Bank of Ghana (BoG)’s latest summary of economic figures.
The economic figures from the BoG indicated that the total debt stock increased by 11.4 billion cedis in that period.
Ghana’s debt represents 57.2 percent when calculated as a percentage of GDP.
Within the period, Ghana accumulated an external debt component of 86.6 billion cedis, while the domestic debt component has reached 84.2 billion cedis.
However, the country saw an increase in total exports which reached 12.54 billion dollars as of October 2018.
Gold generated the highest revenue of 4.7 billion dollars, oil raked in 3.83 billion dollars, while cocoa exports also reached 1.67 billion dollars.
On the banking sector, the total Non-Performing Loans (NPLs) increased marginally to 20.1 percent in October.
This was after the NPLs dropped to 20 percent in the month of September.