Debts
Ghana’s external debt came down drastically from US$6.2 billion at the beginning of 2006 to $2.2
billion last week when the International Monetary Fund (IMF) began a 100% debt reduction policy to Ghana and 18 other developing countries under the Multinational Debt
Relief Programme
External debt as of September 1999
This data was put together by the World Bank.Organization for Economic Co-operation and Development
THE WORLD BANK GROUP
Joint BIS-IMF-OECD-World Bank statistics on external debt
(in millions of US dollars) 1997 1998 1999
Dec. June Sep. Dec. Mar. June
External debt -all maturities
A. Bank Loans (3) 1124 1084 1210 1287 1254
B. Non-bank trade credits (4) 235 219 193
C. Multilateral claims 3365 3581 3573 3706 3604 3592
D. Official bilateral loans 991 1196
Debt due within a year
E. Liabilities to banks (5) 661 525 742
F. Non-bank trade credits (4) 100 102 129
ANALYSIS:Ghana currently owes about $6.3 billion to foreign creditors
Ghana's population is about 17 million, therefore
Each person in Ghana owes (1/17,000,000)/6,300,000,000 = $370
*Note that this figure does not include Ghana's Domestic Debt.
