Ghana’s debt now GH₵761bn, Finance Minister blames the rise on cedi depreciation

Finance Minister Dr. Mohammed Amin Adam has announced that Ghana's public debt reached ₵761.1 billion (USD 51.1 billion) as of July 31, 2024, up from ₵587.7 billion (USD 53.5 billion).

He attributed the rise in cedi terms and the drop in dollar value to cedi depreciation, multilateral disbursements, and domestic budget financing.

Dr. Adam also revealed plans to launch an exchange offer as part of the external debt restructuring process, aiming for high participation from bondholders.

This move is aligned with Ghana's debt targets under the IMF program.