31 C
Accra
Sunday, April 18, 2021
Advertisement
Home Business Ghana adds GHS16.9 billion to debt stock in 2020 1st quarter

Ghana adds GHS16.9 billion to debt stock in 2020 1st quarter

New figures released by the Bank of Ghana show that the country’s debt stock increased by 16.9 billion cedis in the first quarter of 2020, that’s from January to March.

The figures, which were contained in the Bank of Ghana’s Summary of Economic and Financial Data pegs the country’s total debt stock by March 2020 at 236.1 billion cedis, representing 59.3 percent of the GDP.

According to the data, Ghana’s debt increased from 219.2 billion cedis in January this year, to 236.1 billion cedis by March 2020.

A breakdown of the data shows that Ghana’s debt increased by 38.1 billion cedis on a year-on-year basis, which is from March 2019 to March 2020.

On the domestic side, the debt stock stood at 111.3 billion cedis, while the external component of the debt reached 124.8 billion cedis.

In the banking sector, Total Assets of banks grew from 111.2 billion cedis in March 2019, compared to 133.5 billion cedis in March 2020. Total deposits also increased from 73 billion cedis to 84 billion cedis within the same period.

On the external sector development, the data showed that Ghana’s total export receipts dropped to 3.9 billion dollars in March 2020, compared to 4 billion dollars in March 2019.

Gold fetched the country 1.4 billion dollars, while cocoa and oil brought in 959.5 million dollars and 874.1 million dollars respectively by the first quarter of the year.

On the import side, total import within the first three months of the year stood at 2.9 billion dollars. Import of oil recorded 511 million dollars while non-oil import was at 2.48 billion dollars.

Source: Citinewsroom

1 COMMENT

  1. I’m now not certain the place you’re getting your info, however great topic.
    I needs to spend a while studying much more or understanding more.

    Thanks for magnificent information I used to be in search of this info for
    my mission.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

KGL Technology Limited’s Contract Will Boost NLA Financially

The management of the National Lottery Authority (NLA) wants to place on record that KGL Technology Limited does not have 11 years...

NLA Reacts To Press Conference By Ghana Lotto Operators Association(GLOA)

The resolution of a 30-year-old impasse between Private Lotto Operators and NLA is at the brink of collapse due to reckless and...

Greater Accra Yoruba President Sends Easter Goodwill Message To The Youth Around The World

The President of the Greater Accra Yoruba Community, Amb. Oloye Fatuyi FIIM, has urged all, especially the youths to use the Easter...

Association Of Private Lotto Operators And Agents, Others Call For Calm In The Lottery Industry

The National Association of Private Lotto Operators and Agents in Ghana, and the Ghana National Chamber of Banker to Banker Lotto Operators...

Recent Comments

Seth Orlando Ahiadagli on NPP Leads With 51% In IEA Polls