Banks with domestic debt shrink slightly to 52.61 billion yen
Banks operating in the country held the largest share of the country’s total domestic debt at the end of June this year.
According to data from the Bank of Ghana, bank holdings of domestic debt stood at 52.61 billion yen, or about 30.3%.
Compared to the same period last year, the banks’ holdings in the country’s domestic debt declined slightly. It was estimated at 31% over the same period in 2020.
The “other holders” made up of rural banks, businesses and institutions, and individuals then held 51.19 billion yen of the country’s total domestic debt. This represented 29.5% of the share of total domestic debt.
The Bank of Ghana held the 3rd the largest share of domestic debt of about 34.6 billion yen, accounting for 20% of the share of total domestic debt.
While SSNIT’s share in the country’s domestic debt was estimated at 574.1 million yen (0.3%), that of insurance companies was 949.1 yen (0.5%).
Meanwhile, non-resident investors held 33.8 billion yen of total domestic debt, or 19.5% of the total share. This indicates a decrease in operations compared to the same period last year.
Foreign holdings, however, were estimated at around 20.3%.
Public debt reaches 335.9 billion yen in July 2021
Ghana’s total stock of public debt increased by 3.5 billion yen in two months to reach 335.9 billion yen ($ 57.9 billion) at the end of July 2021, the economic data summary revealed. and financial resources of the Bank of Ghana.
This is equivalent to 76.4% of gross domestic product.
However, the rate of increase has slowed, compared to the 27.8 billion euros in fresh funds added in April and May 2021.
The government had indicated in the Issuance Schedule in July 2021 that its borrowing would slow in the third quarter of this year [July 2021 to September 2021] because he would have to borrow less than a billion cedi for the whole of the three months.
According to data from the Bank of Ghana, domestic debt rose to 173.9 billion yen in July 2021, from 170.8 billion yen in May 2021. This is equivalent to 39.5% of GDP.