Ghana’s debt-to-GDP ratio currently stands at 742 billion cedis as of June 2024.
This represents a 22 per cent increase since the end of December 2023, when the debt stood at 608.4 billion cedis.
The increase, according to the Finance Ministry, is primarily due to the depreciation of the cedi and disbursement from creditors.
Reacting to this, the Dean of the School of Business at the University of Cape Coast, Prof. John Gatsi, said the debt ratio is still not sustainable, adding that the government needs to do more to bring the figure down.
” We all know that lower level of debt to GDP is the best for our country. When you look at our debt obligation, and our capacity to carry those debt obligation, it means that we are not anywhere near sustainability, so that is the challenge and that is what we need to address,” He said.
