The disputed debt to GDP ratio will also be higher than even the 35 per cent upper limit when the debt is re-profiled. xIn pairwise, Nigeria’s debt to GDP is moderate at its current rate and far less than the stipulated 58 per cent benchmark. Ghana’s debt to GDP has crossed the dreaded 70 per cent to 72 per cent with a projection that it will hit 86 per cent by 2024. The Federal Government recorded an all-time high fiscal deficit of N6.6 trillion last year – an equivalent of 14.2 per cent of the 2020 GDP. This translates to a net present value of total public debt to GDP ratio of 23.6 per cent as of the end of December 2020.

Source: The Guardian June 28, 2021 04:30 UTC