The country’s ended March 2019 with whole credit card debt inventory hitting ¢198 billion ending March this calendar year, the Bank of Ghana’s summary of money and Financial Facts ending Might has revealed.
This was unveiled soon after the Financial Coverage Committee of the Central Bank met to review the well being of the financial system.
Because November 2018 that BoG last unveiled its details, the overall debt stock has absent up by ¢22 billion in just 4 months. From March 2018 to March 2019, it is really absent up by ¢51 billion. The total debt stock signifies 57% of the country’s GDP.
Breakdown of the debt numbers
The BoG’s knowledge showed that out of the ¢198 billion overall financial debt stock, ¢105 billion was borrowed from outdoors the country or contact it exterior debt.
The cash that were borrowed domestically or domestic debt was ¢92.8 billion, representing 30.5% of Ghana’s GDP.
Much more soon…