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Good News As Ghana’s Debt Stock Drops By ¢24 Billion To Hit ¢736.9 Billion

Ghana’s total public debt stock has decreased by GH¢24 billion, bringing the total value to GH¢736.9 billion as of November 2024, according to the latest data from the Bank of Ghana.

This decline represents progress in addressing the debt-to-GDP ratio, a critical benchmark for fiscal sustainability.

The percentage of the total public debt to GDP now stands at 72.2%, down from 74.6%. The external component of the debt stock declined marginally from GH¢453.7 billion to GH¢425.3 billion, reflecting gains from improved foreign exchange reserves and restructuring agreements with external creditors.

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However, the domestic component of the debt stock saw a rise, increasing from GH¢307.3 billion to GH¢311.7 billion.

Despite this, the overall decline in the total debt stock is attributed to stringent fiscal measures and debt restructuring efforts aimed at ensuring macroeconomic stability.

Analysts caution that achieving long-term sustainability will require consistent fiscal discipline and structural reforms.

The government has reiterated its commitment to reducing the debt burden further through enhanced revenue generation, prudent public spending, and economic reforms.

Source: OccupyGh.com 

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