Ghana’s total debt hits GH¢159.4 billion

New data released by the Bank of Ghana puts the country’s total debt by July at GH¢ 159.4 billion Cedis , representing 65.09% of  GDP.
The external component of the debt stood at 18.02 billion U.S dollars, while the domestic debt hit 73.08 billion Cedis .
The data which was published after the Monetary Policy Committee concluded its meeting showed that the total debt stock increased by 5.01 billion Cedis from 154.3 billion Cedis in May to 159.04 billion Cedis in July 2018.
Compared to the same period in July 2017, the debt to GDP however dropped from 67.04% to 65.09%.
In the banking sector, the data showed that total assets of banks stood at 106 billion Cedis as at August.  Compared to the same period in 2017, the total assets of the banking sector was 86 billion Cedis .
Meanwhile, Non-Performing Loans, which is credit gone bad was at 21.03% as at August.  In the same period in 2017 the NPL was at 21.09% showing a drop on year to year basis.