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Ghana's Debt- GDP Ratio Ghana's debt situation worsens- IMF

According to the report released in Washington D.C, Wednesday, Ghana will end 2016 with a debt- GDP ratio a little over 1% more than 2015’s figure of 73.

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IMF Fiscal Monitor team play

IMF Fiscal Monitor team

The IMF’s Fiscal Monitor report has projected that Ghana’s debt to GDP ratio will hit 74.1 percent at the end of 2016.

According to the report released in Washington D.C, Wednesday, Ghana will end 2016 with a debt- GDP ratio a little over 1% more than 2015’s figure of 73.

The fiscal monitor report does not see the country’s expenditure consolidation attempts to be yielding enough results in reducing the debt to GDP ratio especially in 2016. The country’s total debt currently stands at  over GHC97 billion.

READ MORE: Ghana's Economy Ghana pays more on interests than total oil revenue for 2014

In terms of revenue generation, however, the Fiscal Monitor had some positive news, projecting that revenues will continue to improve for the country as government will end the year mobilizing more than the 29 billion Ghana cedis.

Ghana’s revenue generation efforts in 2015 were hampered massively owing to poor performance of international commodity prices especially with oil prices plummeting by 60%.

 

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