Ghana’s debt hit GHS263 billion as of July 2020.
The external component of the debt was estimated at GHS138 billion [$24.3bn], representing 35.8 percent of GDP.
The domestic component of the debt was also estimated at GHS125.1 billion, approximately 32.5% of GDP.
The financial sector resolution bond however constituted GHS14.2 billion, which is equivalent to 3.7 percent of GDP.
The country is expected to spend about GHS26 billion on interest payments for this year alone.
This will be a little over GHS6 billion spent in 2019.
Last year, interest payments cost the nation about GHS19.756 billion on loans borrowed.
Source: Mybrytfmonline/Kofi Atakora
