Figures from the Bank of Ghana has indicated that the country’s public debt has increased to about GHc66 billion by the end of August this year.
This means that in two months, June to August, a little over GHc2billion has been added to the debt.
In terms of comparing this rate to the total value of the economy, it has hit 57 percent of Ghana’s GDP therefore, with an estimated population of about 26.5million people, every man, woman and child owes approximately GHc2, 479.
Some analysts have argued Ghana could be described as a highly indebted country if the debts levels should cross the 60 percent mark set by the World Bank and United Nations.
Business World (with notes from myjoyonline)