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19.07.2019 Business & Finance

Public Debt Ballooned To GH¢ 200bn

Dr. Ernest Addison
LISTEN JUL 19, 2019
Dr. Ernest Addison

Ghana’s public debt stock has ballooned to GH¢ 200 billion.

This was made known by the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, on Friday July 19, 2019, during a press conference in Accra.

He was addressing the media on the happenings of the Central Bank’s Monetary Policy Committee (MPC’s) 89th regular meeting which started on Wednesday, July 17, 2019 and ended on Friday, July 19, 2019.

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He noted that the country’s debt stock increased from GH¢ 198.4 billion in April 2019 to GH¢ 200 billion in May 2019.

According to him, the debt stock was sustainable.

However, he urged that “we should not shy away from the view that there are vulnerability.”

Policy Rate Maintained

Meanwhile, he announced that the Bank of Ghana has decided to maintain the policy rate at 16 percent, revealing that there was increased confidence in the banking sector.

The policy rate is the rate which the Central bank lends to commercial banks.

More soon…

—Daily Guide

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