By Elorm Desewu
Ghana’s total debt stock has risen sharply to GHC205.6 billion at the end of July 2019, according to the Bank of Ghana, (BoG).
The stock of public debt rose to GHC205.6 billion representing 59.4 percent of GDP at the end of July 2019 compared with GH¢159.7 billion representing 53.1 percent of GDP at the end of July 2018.
Of the total debt stock, domestic debt was GH¢98.4 billion representing 28.4 percent of GDP, of which GH¢10.7 billion which is 3.1 percent of GDP represented bonds issued to support the financial sector clean-up, while external debt was GH¢107.2 billion representing 31.0 percent of GDP.
The government plans to raise an amount of GHC14.337 billion from the domestic money market for the next couple of months. Of this amount, GHC13.645 billion would be used by the government to rollover maturing debts while the remaining GHC692.3 million which is a fresh issuance would be used to meet government’s financing requirements.
From now to November this year, the government plans to issue a 91 day Treasury Bill worth GHC5.555 billion, 182 day Treasury Bill worth GHC1.4 billion, 364 day Treasury Bill worth GHC800 million, 2 year note worth GHC2.9 billion, 3 year bond worth GHC2 billion, 5 year note bond GHC700 million, 7 year bond worth GHC700 million and 20 year bond worth GHC 287.8 million.