Statistical Bulletin Sept 2015 A4

STATISTICAL BULLETIN
OF GH
ST 95
.1
A
AN
BAN
BANK OF GHANA
September 2015
page 1
Prepared by Research Department

Published by IDPS Department
Bank of Ghana
P. O. Box GP 2674
Accra, Ghana
www.bog.gov.gh
ISSN: 0855 - 6229
pagepage
1 1
TABLE OF CONTENTS
Selected Economic Indicators 5
Charts 6
Statistical Tables: 11
Monetary Indicators

1.
Monetary Survey 11
2.
Assets of the Bank of Ghana 12
3.
Liabilities of the Bank of Ghana 13
4.
Assets of Deposit Money Banks 14
5.
Liabilities of Deposit Money Banks 15
6.
Sectoral Distribution of Outstanding Credit by Deposit Money Banks
16
7.
Reserve Requirements of Deposit Money Banks 17
8.
Bank Clearing and Debits 18
9.
Consolidated Assets and Liabilities of Rural/Community Banks
19
Interest Rates
10.
Interest Rates Ranges 20
11.
Money Market & DMBs Rates 21
Government Fiscal Operations
12.
Central Government Budget (Revenue) 22
13.
Central Government Budget (Expenditure) 23
14.
Central Government Fiscal Position (Financing) 24
15.
Fiscal Position Narrow Coverage 25
16.
Outstanding Stock of Selected Financial Assets 26
17.
Holders and Structure of Domestic Debt 27
External Sector Indicators
18.
International Reserves of Bank of Ghana 28
19.
Balance of Payments 29
20.
Merchandise Trade Flows 30
21.
Crude Oil and Petroleum Products Imports 31
22.
Ghana: Value, Volume and Unit Price of Exports
32
23.
Commodity Prices 33
24.
Ghana: Direction of Trade 34
25.
Foreign Exchange Rates (Interbank & Forex Bureaux Markets)
35
26.
Ghana: Public & Publicly Guaranteed External Debt
36
Real Sector Indicators
27.
Ghana: Retail Prices of Major Petroleum Products
37
28.
National Consumer Price Index and Inflation Rates
38
29.
Gross Domestic Product at 2006 Constant Prices
39
30.
Gross Domestic Product at Current Prices 40
2014
2015*
-
10.92
Average Inflation(%) (yr)
Core 1: INFXEU (inflation adj. for energy & utility)
36.78
31.90
27.19
Reserve Money (RM)
Total Liquidity (M2+)
Broad Money (M2)
28.24
36.18
40.65
46.91
10.85
15.90
1,005.92
Export 1,224.58
956.83
2.8
1,011.45
3.9
5,679.20
24.95
33.56
35.37
47.50
10.55
16.50
987.48
4.0
5,833.18
26.12
33.93
46.89
47.12
13.26
16.90
1,079.80
4.1
5,896.15
29.56
34.44
47.47
48.40
13.41
17.00
1,087.35
3.8
5,461.01
33.05
36.77
30.20
42.59
13.77
17.00
1,049.16
3.3
4,910.72
30.99
32.72
28.25
35.35
14.69
16.40
972.69
3.1
4,674.47
29.01
33.04
25.58
36.52
14.70
16.50
16.80
16.90
867.75
3.3
4,965.40
25.53
31.40
24.03
36.39
15.60
1,009.76
3.2
4,834.92
26.49
33.11
23.08
33.16
15.99
831.16
2.9
4,521.05
24.30
33.16
21.28
30.20
16.16
16.60
862.62
2.9
4,539.70
23.74
35.50
22.43
33.26
16.03
17.10
461.32
Current Account (incl. official transfers)**
Private Transfers (net)**
2.73
Domestic Petroleum Prices (GH per litre): Premium
13.94
CIEA: year-on-year growth (real)
5.10
16.10
3.05
57.01
9.80
21.00
3.05
60.90
* = provisional
** = Quarterly Series
n.a = Data not available
Net Domestic Financing (NDF)
Government Fiscal Operations (In million of GHC)

460.10
1,288.39
0.06
1.95
31.37
0.13
3.93
35.14
843.83 -3,304.76
0.27
8.52
31.74
196.31
0.18
5.09
36.55
0.22
6.81
33.40
981.56 1,484.72
0.21
6.38
36.48
548.06
0.55
15.45
34.87
468.44
0.16
4.78
35.74
-590.54
0.27
9.17
35.70
21.85
n.a
n.a
0.13
5.15
16.00
3.05
58.70
1,194.68
1,959.90
n.a
n.a
-158.49
Debt Service/GDP (%)
5.70
16.40
3.05
49.72
1,186.56
2,004.00
574.30
-548.40
-217.18
3.95
8.30
19.90
3.39
62.36
1,233.41
1,973.00
n.a
n.a
-127.85
Debt Service/Exports of goods and services (%)
7.10
18.90
3.39
79.40
1,254.23
1,961.00
n.a
n.a
-121.26
n.a
6.30
17.90
3.29
88.07
1,205.28
1,946.77
645.36
-820.68
-152.53
n.a
6.46
17.89
3.36
98.56
1,178.97
1,885.20
n.a
n.a
-108.86
30.85
11.74
23.02
3.36
103.48
1,227.21
1,980.43
n.a
n.a
-410.51
External debt/GDP (%)
13.31
24.20
3.36
108.21
1,237.68
2,026.59
420.92
-864.34
-167.73
Stock 11,876.42 11,927.76 11,885.36 12,678.62 12,974.60 12,948.51 12,968.19 13,451.17 13,785.16 13,772.95
External Debt By Maturity (In million of US$)
24.60
CIEA: year-on-year growth (nominal)
Real Sector Indicators(Base: Avg. 2001=100)
111.97
1,311.62 1,295.54
Brent Crude Oil [US$ per barrel]
1,932.09 2,017.62
n.a
n.a
-203.64
Gold [US$ per fine ounce] 1,283.32
n.a
n.a
-88.09
Cocoa LIFFE [ per tonne] 1,938.43
Commodity Price Movements
59.63
-897.92
Trade Balance
7.00
17.70
3.47
63.75
1,182.90
2,130.00
600.00
-422.55
-184.65
1.70
11.30
36.50
134.77 1,249.21
n.a
n.a
n.a
n.a 13,552.65
5.80
16.20
3.33
65.62
1,202.31
2,060.90
n.a
n.a
-233.21
Import 1,164.95 1,094.01 1,160.47 1,179.18 1,397.99 1,188.66 1,239.89 1,170.42 1,100.54 1,084.93 1,168.25 1,064.37 1,047.26
2.9
4,324.85 4,188.04
29.59
35.18
39.40
49.31
10.09
15.30
3.0
(equiv in months of imports of goods & services)
Gross International Reserves 4,489.39
External Sector Developments (US$ million)
45.83
Private Sector Credit
Monetary Sector Indicators (y-o-y) Growth (%)
15.00
Headline Inflation(%)
Inflationary Measures [COICOP Based] (y-o-y)
Indicators Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
S
ELECTED ECONOMIC INDICATORS

CHARTS
INFLATION
Headline inflation rose from 16.6 per cent at the end of March 2015 to 17.1 per cent at the end of June
2015. The rise in the headline inflation rate in the second quarter of 2015 mainly reflected increase in
non-food inflation. The non-food inflation increased by 0.5 percentage points to 23.6 per cent in June
2015 from 23.1 per cent in March 2015. Food inflation increased by 0.2 percentage points from 7.2 per
cent in March 2015 to 7.4 per cent in June 2015. The sub-components that contributed significantly
to the rise in non-food inflation during the review quarter were education, furnishing, recreation &
culture and clothing & footwear.
30.0
Food and Non-food Inflation rates: (% ) Mar 2015 & Jun 2015
Inflation Trend: Combined, Food & Non-Food

25.00
25.0
20.00
Per cenrt
Per cent
20.0
15.0
10.0
5.0
15.00
10.00
5.00
0.0
0.00
Composite
Percent
Combined
18.0
17.5
17.0
16.5
16.0
15.5
15.0
14.5
14.0
13.5
13.0
12.5
12.0
11.5
11.0
10.5
10.0
9.5
9.0
8.5
8.0
7.5
7.0
Food
Food
Headline Inflation and Core Inflation
Non-Food
Mar-15
Non-Food
Jun-15
Contribution of Non-food Basket to Overall Inflation :(%) Mar-15 & Jun-15

12
Communications
13.8
Education
22.9
Miscellaneous goods & Services
16.3
24.6
19.2
20.1
20.1
Alcoholic Beverages, Tabacco & Narcotics

16.8
18.1
Health
24.8
26.2
Housing & Utilities
25.5
25.8
Transport
23.5
23.1
Recreation & Culture

Furnishing, Household Equipment and Routine Maintenance
20.9
Clothing and Footwear
22.4
Core Inflation
Headline Inflation
Jun-15
23.3
19.8
18.4
Hotel, Cafes & Restaurants
10
15
Mar-15
20
24.3
25
30
MONETARY DEVELOPMENTS
Annual growth rate of broad money supply including foreign currency deposits (M2+) moderated on
year-to-date basis during the second quarter of 2015. M2+ grew by 34.9 per cent at the end of June 2015
from a growth rate of 36.8 per cent at the end of December 2014 but exceeded the 31.9 per cent and
31.4 per cent growth rates recorded as at end-June 2014 and end-March 2015 respectively. The growth
in M2+ was mainly driven by 52.9 per cent rise in Net Foreign Assets (NFA) and a 33.4 per cent growth
in Net Domestic Assets (NDA) of the banking system during the review quarter. At the end of June
2015, M2+ totalled GH41,466.5 million (31.2% of GDP).
Ghana Monetary Survey
45,000.0
Monetary Sector Indicators Growth (y-o-y)
50
40,000.0
40
35,000.0
Growth Rate (%)
GH' Millions
30,000.0
25,000.0
20,000.0
15,000.0
30
20
10
10,000.0
Net Foreign Assets
16,000.0
Net Domestic Assets
Private Sector Credit
Components of Money Supply
Broad Money (M2)
Money Supply (M2+)
Reserve Money & Its Components
14,000.0
14,000.0
12,000.0
12,000.0
10,000.0
GH'Millions
GH' Millions
10,000.0
8,000.0
6,000.0
8,000.0
6,000.0
4,000.0
4,000.0
2,000.0
2,000.0
Currency Outside Banks
Demand Deposits
Time & Savings Deposits
Foreign Currency Deposits
Reserves of Banks
Currency outside Banks
Reserve Money (RM)
Jun-15
Apr-15
May-15
Mar-15
Jan-15
Feb-15
Dec-14
Oct-14
Nov-14
Sep-14
Jul-14
Aug-14
Jun-14
Apr-14
May-14
Mar-14
Jan-14
Feb-14
Dec-13
Oct-13
Nov-13
Sep-13
Jul-13
Money Supply (M2+)
Aug-13
Jun-13
5,000.0
DOMESTIC INTEREST RATES

The Monetary Policy Committee (MPC) increased the policy rate by 100 basis points (bps) to 22.0 per
cent at the end of the second quarter of 2015. However, developments in interest rates on the money
market were generally mixed during the review quarter. Interest rates on the 91-day and 182-day bills
decreased by 22 bps and 21 bps respectively on quarterly basis to 25.17 per cent and 25.88 per cent at the
end of June 2015. Interest rates on the 1-year, 2-year notes, 3-year fixed bond, the 5-year GOG bond and
7-year fixed bonds however remained unchanged at 22.50 per cent, 23.00 per cent, 23.49 per cent, 21.00
per cent and 18.00 per cent respectively.
The interbank weighted average rate increased by 110 bps to 24.12 per cent while the Deposit Money
Banks average 3-month time deposits rate and the average lending rate remained unchanged at 13.00 per
cent and 28.98 per cent respectively at the end of June 2015.
Policy Rate & Weighted Average Inter-Bank Rate
30.0
25.0
25.0
20.0
20.0
15.0
Percent
Percent
Rates on Short-Term Securities
30.0
10.0
15.0
10.0
5.0
5.0
0.0
Policy Rate
30,000.0
Weighted Avg.Inter-Bank Rate
91-Day (T/Bill Int Equiv)
35.0
DMBs Credit Aggregate
182-Day(T/Bill Int Equiv)
1-Year
DMBs Rates
30.0
25,000.0
25.0
Percent
GH' Million
20,000.0
15,000.0
10,000.0
20.0
15.0
10.0
5,000.0
5.0
0.0
Public
Private
Govt.(Net)
Savings rate (3-month Time Deposit Rate)
Average Lending Rate
FISCAL DEVELOPMENTS
Fiscal developments in the second quarter of 2015 resulted in an overall deficit (including divestiture
proceeds and discrepancy) of GH1,453.04 million (1.1% of GDP) compared with the target of
GH2,314.91 million (1.7% of GDP) and a deficit of GH2,514.61 million (2.2% of GDP) recorded
in the preceding quarter. Total revenue and grants recorded in the review quarter amounted to
GH7,552.58 million (5.7% of GDP) compared with a target of GH7,174.7 milllion (5.4% of GDP)
and the outturn of GH7,422.6 milllion (5.6% of GDP) recorded in the first quarter of 2015. Total
expenditure and net lending during the period April to June 2015 amounted to GH9,076.4 million
(6.8% of GDP) compared with a target of GH8,686.5 milllion (6.5% of GDP) and the outturn
of GH8,461.6 milllion (6.4% of GDP) recorded in the first quarter of 2015. The deficit together
with a net outflow of GH48.6 milllion and repayment of GH852.01 milllion to other domestic
creditors was financed from domestic sources to the tune of GH1,348.0 million and a drawdown
of GH205.7 milllion from the Stabilisation Fund.
The stock of domestic debt at the end of June 2015 was GH36,542.7 million, equivalent to 27.4 per
cent of GDP.
12,000.0
Summary of Government Finances
10,000.0
1.5
8,000.0
1.0
0.5
4,000.0
0.0
2,000.0
0.0
-0.5
-2,000.0
-1.0
-4,000.0
8.00
Selected Government Finances as percentage of GDP
33.00
7.00
31.00
6.00
29.00
5.00
27.00
4.00
25.00
2015 Q2
2015 Q1
2014 Q4
2014 Q3
2014 Q2
2014 Q1
2013 Q4
2013 Q3
2013 Q2
2013 Q1
2012 Q4
OVERALL DEFICIT / SURPLUS
2012 Q3
2015Q2
Q4
2015Q1
Q3
Q2
Q4
Q2
2014 Q1
2012 Q1
TOTAL EXPENDITURE & NET LENDING
Q3
Q4
Q3
2013 Q1
Q2
Q4
2012 Q1
Q3
Q2
Q4
2011 Q1
Q3
Q2
Q4
2010 Q1
Q3
Q2
Q4
2009 Q1
Q3
2008 Q2
TOTAL REVENUE & GRANTS
-2.0
2012 Q2
-1.5
-6,000.0
Domestic Debt as percentage of GDP
23.00
3.00
21.00
2.00
19.00
1.00
17.00
Total Revenue and Grants/GDP
Compensation of employees/GDP
Interest Payments /GDP
Q2
2015Q1
Q4
Q3
Q2
2014Q1
Q4
Q3
Q2
Q4
2013Q1
Q3
Q2
Q4
2012Q1
Q3
Q2
2011Q1
Q4
Q3
15.00
Q2
Q2
2015Q1
Q4
Q3
Q2
2014Q1
Q4
Q3
Q2
2013Q1
Q4
Q3
Q2
2012Q1
2010Q1
GH' Million
6,000.0
Domestic Primary Balance as Percentage of GDP
10
EXTERNAL SECTOR DEVELOPMENTS, FOREIGN EXCHANGE RATES AND

EXTERNAL DEBT
The total value of mechandise exports for the second quarter of 2015 was estimated at US$2,703.54
million, a decrease of 22.9 per cent from US$3,504.50 million recorded in the second quarter of 2014.
The fall in export earnings during the review period was attributable to a low outturn in receipts from
all major exports except cocoa products. The decline in earnings from the major exports was due to both
volume and price effects.
Similarly, the total value of imports in the second quarter of 2015 also declined by 7.4 per cent to
US$3,279.88 million from US$3,355.89 million recorded in the second quarter of 2014. This was as a
result of a drop in both oil and non-oil imports during the review quarter.
Gross financial assets decreased by US$921.31 million (16.87%) to US$4,539.70 million at the end of June
2015 from a level of US$5,461.01 million at the end of December 2014. This was enough to provide cover
for 2.9 months of imports compared with 3.8 months of imports cover at the end of December 2014.
The Ghana Cedi weakened against the major trading currencies in the second quarter of 2015, driven
mainly by demand pressures from official and informal sources which outweighed foreign exchange
supply sources on the market. In the interbank market, the Ghana cedi depreciated cumulatively by
26.05 per cent, 27.00 per cent and 19.55 per cent against the US dollar, the pound sterling and the euro
respectively in the second quarter of 2015. This compares with respective depreciations of 26.71 per cent,
28.12 per cent and 24.31 per cent recorded for the same period in 2014. On the Forex Bureau Market, the
cedi recorded cumulative depreciation of 25.89 per cent, 23.59 per cent and 13.78 per cent against the US
dollar, the pound sterling and the euro respectively during the review quarter. This may be compared with
depreciations of 26.59 per cent, 29.44 per cent and 26.25 per cent against the US dollar, the pound sterling
and the euro respectively at the end of the second quarter of 2014.
The total outstanding external debt stock at the end of June 2015 stood at US$13,552.65 million and
consituted 36.5 per cent of GDP.
8.0000
International Reserves
7,000.0
5,000.0
6.0000
4,000.0
5.0000
Ghana Cedis
US$ Millions
End Period Inter-Bank Transaction Exchange Rate

(Ghana Cedis Per)
7.0000
6,000.0
3,000.0
2,000.0
4.0000
3.0000
1,000.0
2.0000
1.0000
Gross Financial Assets
Net Reserves
US Dollar
Merchadise Exports & Imports
Pound Sterling
EURO
External Debt as percentage of GDP
41.0
5,000.0
36.0
4,000.0
Per cent
2,000.0
1,000.0
31.0
26.0
0.0
-1,000.0
21.0
Q2
Q2
Q4
2015Q1
Q3
Q2
Q4
2014Q1
Q3
Q2
Q4
2013Q1
Q3
Q2
2012Q1
Q3
Q4
Q2
2011Q1
Q3
Q4
Q2
Q4
Trade Balance
2015Q1
Q3
Q2
Q4
2014Q1
Q3
Q2
Q4
2013Q1
Q3
Q2
Q3
Q4
2012Q1
Merchandise Imports
16.0
2010Q1
Merchandise Exports
Q2
2011Q1
Q3
Q4
Q2
-2,000.0
2010Q1
US$ Millions
3,000.0
8,396.05
8,098.73
Savings & Time deposits
Foreign currency deposits
0.17
Currency / M2+ Ratio
* Provisional
0.21
9,976.68
Currency / Deposit Ratio
Reserve Money
Memorandum Items
-1,078.72
7,360.39
-342.08
9,475.30
-660.07
10,059.01
313.51
8,677.78
313.51
8,677.78
713.69
7,588.81
293.89
7,049.04
193.01
6,574.19
543.62
5,595.28
1,340.24
4,819.67
-10,823.17
22,724.42
-140.95
15,646.29
-10,815.92
23,303.21
-150.25
16,395.11
-11,293.24
23,930.86
2,689.41
15,822.48
-12,503.89
24,174.97
3,360.16
15,956.00
-12,749.17
24,486.33
3,040.45
16,647.95
-10,672.95
24,180.02
5,913.82
20,258.52
-10,680.75
24,180.02
5,913.82
20,258.52
-10,600.39
25,364.07
3,732.36
18,339.59
-9,227.33
26,994.24
5,858.57
19,136.53
-9,341.40
27,656.87
4,653.11
19,082.89
-8,202.07
28,283.62
3,821.61
18,043.88
-8,202.07
29,881.65
3,665.05
17,639.25
8,246.11
8,412.30
9,417.67
5,425.32
8,777.40
8,529.05
8,751.39
5,585.81
9,049.98
8,382.47
9,084.06
5,535.85
8,955.40
8,992.12
9,525.18
5,927.43
8,585.47
9,450.70
10,439.74
6,267.70
9,313.00
10,272.56
10,361.29
6,896.22
9,313.00
10,272.56
10,353.48
6,896.22
10,073.34
10,609.92
10,526.36
6,463.78
10,868.38
10,602.63
10,340.99
6,575.80
11,435.47
10,854.40
10,622.36
6,600.22
12,141.23
10,954.34
10,836.58
6,510.56
13,634.42
10,576.52
10,900.53
6,537.18
0.17
0.21
10,408.11
0.18
0.21
10,431.97
0.17
0.21
10,619.49
0.18
0.22
11,596.63
0.18
0.22
12,309.24
0.19
0.23
11,784.64
0.19
0.23
11,784.64
0.17
0.21
11,500.29
0.17
0.21
11,286.20
0.17
0.20
11,367.97
0.16
0.19
12,045.85
0.16
0.19
11,320.67
30,737.84 31,501.40 31,643.65 32,052.35 33,400.13 34,743.60 36,843.07 36,835.27 37,673.40 38,387.80 39,512.45 40,442.72 41,648.64
8,966.94
Demand deposits
Total Liabilities
5,276.12
Currency outside banks
Money Supply M2+
-820.92
3,431.92
30,737.84 31,501.40 31,643.65 32,052.35 33,400.13 34,743.60 36,843.07 36,835.27 37,673.40 38,387.80 39,512.45 40,442.72 41,648.64
-10,076.25
Other Items (net)
Total Assets
22,112.14
355.62
14,792.70
Claims on private sector
Govt. Deposits
130.98
3,681.93
26,472.97 27,688.50 29,032.65 25,770.68 24,266.91 25,344.65 27,851.78 27,843.97 29,370.91 31,044.87 32,745.25 34,303.82 35,653.79
42.46
DMBs
Claims on Govt
2015*
4,264.87 3,812.91 2,611.00 6,281.67 9,133.22 9,398.95 8,991.29 8,991.29 8,302.50 7,342.93 6,767.20 6,138.90 6,159.91
4,222.41
Net Domestic Assets
2014
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
BOG
Net Foreign Assets
Classification
Table 1. Monetary Survey: (Millions of Ghana Cedis)

TABLES
11
Revaluation Stock
29,925.18
Total Assets
* Provisional
6,612.48
259.39
3,549.91
Other Assets
Claims on DMBs
Claims on Public Corporations
7,482.83
104.42
Loans & Advances
Total
797.85
6,580.57
12,020.56
Treasury Bills
Ghana Government Stocks
Claims on Government
Total
76.91
9,019.22
Foreign Securities
Others
1,376.77
986.58
SDR Holding
Foreign Cur.& Bal. with Bks
561.08
96,733.74
73,303.87
241.38
3,819.42
7,938.20
604.28
758.70
6,575.21
11,430.88
76.86
8,687.01
1,119.36
986.58
561.08
32,082.66
6,535.86
487.27
3,927.74
9,105.34
1,553.00
855.40
6,696.93
12,026.44
79.55
9,301.52
1,003.01
975.03
667.33
38,284.44
8,764.78
534.35
3,941.86
8,913.53
1,561.89
717.47
6,634.17
16,129.91
80.39
9,863.92
4,352.95
1,069.26
763.39
39,030.11
9,022.39
305.45
3,949.35
8,775.80
1,561.55
736.55
6,477.70
16,977.12
80.04
11,357.09
3,719.50
1,057.53
762.96
38,638.70
8,492.10
407.22
4,001.91
8,559.46
1,561.26
550.67
6,447.54
17,178.00
77.23
11,667.58
3,630.61
1,039.63
762.96
39,776.13
8,907.15
331.66
3,983.36
10,911.77
1,560.66
297.20
9,053.90
15,642.20
77.17
10,653.76
3,125.36
1,030.14
755.77
39,776.13
8,907.15
331.66
3,983.36
10,911.77
1,560.66
297.20
9,053.90
15,642.20
77.17
10,653.76
3,125.36
1,030.14
755.77
36,742.90
8,697.41
467.46
3,803.56
9,529.60
292.90
229.40
9,007.30
14,244.87
77.67
10,541.04
1,786.00
1,019.59
820.57
39,248.24
8,322.52
1,383.41
3,802.38
9,308.24
299.53
1.12
9,007.60
16,431.68
77.93
11,387.94
3,002.93
1,077.90
884.98
37,131.01
7,111.54
278.83
3,906.45
9,261.47
301.88
1.96
8,957.63
16,572.73
78.48
12,013.87
2,469.62
1,101.67
909.09
34,357.58
4,886.34
384.63
3,864.48
9,267.93
309.01
1.66
8,957.25
15,954.21
78.70
12,258.64
1,534.85
1,137.90
944.11
34,733.15
2,728.54
1,801.27
3,833.57
9,032.76
97.36
2.16
8,933.23
17,337.02
79.68
13,307.42
1,713.12
1,214.80
1,021.99
Gold
Foreign Assets
Asset Classification
2014 2015*
Table 2. Assets of Bank of Ghana : (Millions of Ghana Cedis)
12
68.29
Public Institutions
2,217.48
11,485.68
29,925.18
Capital and Reserves
Other Liabilities
Total Liabilities
* Provisional
7,798.15
Foreign Liabilities
2,547.95
3,653.89
Commercial Banks
5,875.91
-1,174.23
Total
2014
2015*
96,733.74
78,367.77
2,217.42
7,748.95
2,324.88
392.07
3,589.03
-1,656.22
6,074.72
32,082.66
12,864.99
2,158.23
8,594.52
2,237.84
75.32
3,712.38
-1,549.87
6,227.08
38,284.44
15,869.12
2,158.18
8,769.52
5,323.98
139.17
3,927.89
1,256.92
6,163.64
39,030.11
16,763.14
2,158.13
7,501.82
6,062.79
124.20
4,523.17
1,415.41
6,544.23
38,638.70
16,110.01
2,158.09
7,118.99
6,377.41
869.68
4,466.50
1,041.24
6,874.19
39,776.13
15,201.90
2,218.11
6,964.42
7,649.50
351.89
3,273.53
4,024.09
7,742.21
39,776.13
15,201.90
2,218.11
6,964.42
7,649.50
351.89
3,273.53
4,024.09
7,742.21
36,742.90
13,115.60
4,164.50
6,656.06
5,724.62
118.80
3,699.18
1,906.64
7,082.11
39,248.24
7,770.65
7,270.08
9,382.64
7,536.53
159.09
3,328.47
4,048.98
7,288.33
37,131.01
7,574.39
6,070.48
9,998.54
6,220.31
304.87
3,178.85
2,736.60
7,267.29
34,357.58
4,471.62
6,070.53
10,358.93
6,220.87
241.25
3,914.33
2,065.29
7,235.63
34,733.15
7,254.38
2,482.12
12,517.35
5,214.07
153.04
3,315.73
1,745.31
7,265.23
Government
Deposits
Currency In Circulation
Classification
Table 3. Liabilities of Bank of Ghana: (Millions of Ghana Cedis)
13
5,088.08
4,041.62
Total
Foreign Assets
599.80
4,488.28
682.00
TOR Bonds
43,718.67
Total Assets
* Provisional
5,166.96
Other Assets
19,544.48
2,567.65
Total
Claims on Private Sector
2,512.20
55.46
Loans & Advances
Other Bills
Claims on Public Corporation
7,309.87
1,814.66
Treasury Bills
Total
4,813.21
Government Stocks
Claims on Government
2015*
44,080.50
4,395.67
20,355.20
2,369.22
2,255.91
113.32
7,708.10
682.00
2,041.93
4,984.17
3,877.45
5,374.86
4,725.46
649.40
46,638.77
5,934.32
20,366.77
2,936.44
2,842.70
93.74
7,289.77
682.00
2,234.94
4,372.83
4,730.64
5,380.83
4,739.56
641.27
47,583.09
6,708.88
20,823.22
3,107.64
2,985.23
122.40
6,908.94
682.00
2,330.67
3,896.28
4,916.10
5,118.31
4,490.52
627.79
48,618.69
7,132.42
21,021.59
3,153.38
2,996.50
156.88
7,180.20
682.00
2,797.88
3,700.32
4,840.16
5,290.94
4,674.14
616.80
49,542.86
6,619.08
21,371.46
3,114.87
3,023.23
91.63
8,088.48
682.00
3,273.31
4,133.18
4,491.09
5,857.88
5,251.38
606.49
49,821.05
5,978.97
21,042.70
3,137.32
3,059.15
78.17
9,346.75
682.00
4,829.03
3,835.72
4,737.76
5,577.54
4,731.55
845.99
49,821.05
5,978.97
21,042.70
3,137.32
3,059.15
78.17
9,346.75
682.00
4,829.03
3,835.72
4,737.76
5,577.54
4,731.55
845.99
52,071.88
6,932.80
21,921.63
3,442.44
3,289.18
153.26
8,809.99
682.00
5,486.28
2,641.71
5,216.67
5,748.34
5,130.01
618.33
54,453.98
6,007.89
23,327.89
3,666.35
3,558.13
108.22
9,828.29
682.00
6,230.74
2,915.54
5,190.90
6,432.67
5,720.14
712.53
54,294.95
5,376.70
23,974.16
3,682.71
3,572.81
109.89
9,821.43
682.00
6,187.58
2,951.84
5,217.61
6,222.36
5,555.29
667.07
3,836.49
3,748.06
88.44
8,606.49
682.00
5,352.55
2,571.94
6,350.10
6,370.76
5,642.71
728.05
7,084.23
55,314.65 58,293.23
6,341.67
24,659.58 26,045.16
3,624.05
3,513.96
110.09
8,775.95
682.00
5,326.09
2,767.86
5,334.31
6,579.10
5,854.04
725.06
Balance at Bank of Ghana
Cash in Till
Cash Reserves
Classification 2014*
Table 4. Assets of Deposit Money Banks: (Millions of Ghana Cedis)
14
8,098.73
3,982.05
4,082.47
Savings Deposits
Time Deposits
6,667.45
OTHER LIABILITIES
* Provisional
4,124.52
4,110.95
8,777.40
7,731.46
6,771.22
6,406.38
309.48
3,746.47
1,515.27
869.77
278.22
3.10
588.45
7,074.84
6,722.96
324.45
5,551.56
1,399.61
821.00
289.89
3.68
527.43
43,718.67 44,080.50 46,638.77
6,225.15
PAID-UP CAPITAL & RESERVES
TOTAL LIABILITIES
282.23
CREDIT FROM BANK OF GHANA
3,999.16
821.34
Total
FOREIGN LIABILITIES
328.08
Time Deposits
1,529.85
3.47
Savings Deposits
GOVERNMENT DEPOSITS
489.80
Demand Deposits
PUBLIC SECTOR DEPOSITS
4,034.46
4,096.53
8,246.11
8,084.81
24,193.48 24,461.92 24,744.34
8,030.24
Total
2015*
47,583.09
6,933.41
6,935.01
298.85
5,994.82
1,432.49
793.60
290.01
3.54
500.04
25,194.91
4,050.83
4,038.08
9,049.98
8,056.01
48,618.69
7,149.34
7,111.30
287.56
5,182.24
1,944.75
1,346.76
376.94
2.36
967.45
25,596.75
4,282.00
4,330.81
8,955.40
8,028.53
49,542.86
7,277.70
7,311.88
295.55
5,151.15
1,999.21
1,201.84
481.62
1.40
718.81
26,305.52
4,800.98
4,166.70
8,585.47
8,752.38
5,316.50
4,406.70
9,313.00
8,881.08
6,561.44
7,526.48
241.21
4,424.25
1,889.73
1,260.67
546.63
2.74
711.30
49,821.05 49,821.05
6,561.44
7,526.48
241.21
4,424.25
1,889.73
1,260.67
546.63
2.74
711.30
27,917.28 27,917.28
5,316.50
4,406.70
9,313.00
8,881.08
5,326.55
4,655.67
10,868.38
8,852.66
5,360.37
4,821.95
11,435.47
9,037.74
9,158.04
5,581.75
4,794.31
4,998.92
5,055.13
12,141.23 13,634.42
8,984.18
7,728.48
8,211.82
664.49
4,897.00
1,809.59
1,439.34
618.79
1.62
818.93
6,933.27
8,169.63
260.56
5,024.60
1,916.51
1,334.85
669.93
2.14
662.78
7,372.90
8,013.12
371.31
4,790.69
1,756.32
1,508.84
577.29
0.99
930.57
8,524.79
7,972.88
676.35
5,009.86
1,919.74
1,343.11
521.03
1.43
820.65
52,071.88 54,453.98 54,294.95 55,314.65 58,293.23
6,969.40
8,038.22
244.93
4,502.99
1,825.72
1,098.46
357.84
1.46
739.17
29,392.16 29,703.26 30,655.54 31,501.47 32,846.51
5,543.16
4,707.47
10,073.34
9,068.18
Demand Deposits
PRIVATE SECTOR DEPOSITS
Classification 2014
Table 5. Liabilities of Deposit Money Banks: (Millions of Ghana Cedis)
15
1,585.53
22,120.59
Others 1,602.99
Total (excluding cocoa marketing) 22,001.48
* Provisional
22,164.45
5,193.78
Services 5,022.73
Total 22,056.68
3,140.80
Transport, Storage & Communication 3,087.86
43.85
3,527.36
Domestic Trade 3,723.62
55.20
2,135.84
Export Trade 2,119.46
Cocoa Marketing
1,795.60
Import Trade 1,425.36
1,065.87
Construction 1,032.25
585.72
2,089.47
Manufacturing 2,366.38
591.04
176.65
205.97
Mining & Quarrying
823.97
823.83
Electricity, Gas & Water

2014
2015*
23,168.66
40.82
23,127.84
1,972.48
5,131.36
3,328.76
3,737.97
2,283.79
1,934.65
566.93
1,063.54
2,045.61
204.90
857.86
2,042.57
5,557.52
3,348.58
3,656.55
2,198.50
1,990.08
746.24
1,089.11
2,327.11
211.95
826.75
23.14
23,808.45 24,018.09
39.45
23,769.01 23,994.96
1,841.93
5,326.42
3,275.43
3,877.62
2,246.57
1,911.96
676.28
1,189.14
2,366.03
191.15
866.47
2,198.02
5,363.13
2,919.25
3,449.02
2,335.30
2,280.75
659.42
1,485.51
2,149.92
237.02
947.14
77.37
24,394.69 24,101.85
79.26
24,315.43 24,024.48
2,188.15
5,812.21
3,120.27
3,466.57
2,226.80
1,999.92
760.27
1,082.29
2,622.33
215.66
820.95
24,166.55
78.42
24,088.13
2,110.18
5,518.34
3,671.02
3,200.53
2,221.55
2,305.79
665.38
1,120.46
2,266.99
196.36
811.55
25,210.81
83.98
25,126.83
2,113.18
5,804.75
3,965.87
3,294.43
2,216.36
2,303.56
644.70
1,167.06
2,534.82
212.24
869.87
26,886.02
80.62
26,805.40
2,209.29
5,732.25
4,335.78
3,777.03
2,573.09
2,525.49
702.93
1,241.10
2,674.39
136.51
897.54
27,546.98
76.95
27,470.03
2,260.84
6,073.71
4,566.95
3,689.17
2,616.29
2,673.92
709.00
1,231.93
2,564.11
204.50
879.60
28,173.54
71.60
28,101.94
2,210.45
6,380.90
4,642.49
3,833.23
2,735.92
2,651.50
645.11
1,260.57
2,599.54
232.37
909.87
27,391.46
51.52
27,339.94
2,376.81
6,120.42
4,070.54
4,157.75
2,682.43
1,794.69
633.48
1,259.97
3,121.07
173.82
948.96
Agriculture Forestry & Fishing
Sectors
Table 6. Sectoral Distribution of Outstanding Credit by Deposit Money Banks: (Million of Ghana Cedis)
16
672.3
3,585.6
Foreign
Total
25,960.2
Total
3,923.5
783.5
3,140.0
11.5
27,287.8
8,479.5
18,808.2
*Provisional
Primary Reserve Minimum Ratio Requirement is 10 per cent as at November 2014
Primary Reserve Ratio (Domestic)
11.2
8,164.5
Foreign
Reserve Ratios (%)
17,795.7
Domestic
Deposits
2,913.3
11.3
27,662.1
8,846.9
18,815.2
3,975.6
859.8
3,115.8
11.1
27,508.3
9,610.0
17,898.3
4,007.0
962.8
3,044.2
11.4
28,375.9
9,659.6
18,716.3
4,216.1
973.3
3,242.8
11.1
29,501.8
9,561.5
19,940.3
4,246.3
962.1
3,284.2
10.3
30,055.5
9,844.0
20,211.5
4,033.3
937.1
3,096.2
10.3
31,798.2
10,145.6
21,652.6
4,232.7
948.3
3,284.4
10.2
31,220.4
9,942.7
21,277.7
4,103.4
916.8
3,186.6
10.2
32,301.1
10,733.8
21,567.3
4,209.3
901.1
3,308.1
10.1
33,871.8
12,043.9
21,827.8
4,495.9
1,066.9
3,429.1
10.3
34,565.6
12,449.9
22,115.7
4,655.6
1,097.7
3,557.9
10.3
34,598.6
13,356.5
21,242.1
4,782.2
1,234.1
3,548.1
Domestic
Primary Reserve
Liquidity Reserves
Classification
2014
2015*
Table 7. Reserve Requirements of Deposit Money Banks: (Millions of Ghana Cedis)
17
18
Table 8. Bank Clearing and Debits

End of Period
Number of
Total Effects Cleared
Average Effects Cleared

Working Days

Per Day
Number
Amt (GH'000)
N
umber Amt (GH'000)
2011
2012
2013
2014
2015*
Jun
Jul
Aug
Sep
Oct
Nov
Dec
22
20
23
21
20
22
19
559,769
511,851
524,848
574,944
575,515
575,216
582,066
4,267,670.0
4,183,113.0
4,183,023.7
4,592,538.9
5,369,816.7
5,002,317.3
5,959,063.6
25,444
25,593
22,819
27,378
28,776
26,146
30,635
193,985.0
209,155.6
181,870.6
218,692.3
268,490.8
227,378.1
313,634.9
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
21
21
21
19
21
21
21
23
16
23
22
21
581,355
535,715
552,798
499,116
579,601
546,076
570,559
529,840
530,102
649,224
567,089
522,028
5,806,496.8 27,684
5,048,638.3 25,510
5,094,772.6 26,324
4,913,515.2 26,269
5,240,355.0 27,600
5,709,357.6 26,004
5,874,732.1 27,169
5,489,378.9 23,037
5,171,491.0 33,131
6,610,043.5
28,227
7,095,788.7
25,777
6,726,047.1
24,858
276,499.8
240,411.3
242,608.2
258,606.1
249,540.7
271,874.2
279,749.1
238,668.6
323,218.2
287,393.2
322,535.8
320,288.0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
22
20
19
20
21
20
22
22
21
23
21
19
584,536
530,816
529,016
556,753
567,410
524,953
565,556
513,625
508,920
627,281
552,979
562,891
6,615,040.4
5,354,781.6
5,521,695.9
6,280,721.8
6,054,339.2
5,658,621.1
6,497,937.2
5,805,618.5
5,599,047.7
8,019,276.0
7,616,515.9
7,777,575.0
26,570
26,541
27,843
27,838
27,020
26,248
25,707
23,347
24,234
27,273
26,332
29,626
300,683.7
267,739.1
290,615.6
314,036.1
288,301.9
282,931.1
295,360.8
263,891.8
266,621.3
348,664.2
362,691.2
409,346.1
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
22
20
20
20
21
21
21
21
22
23
20
20
610,465
571,929
591,885
598,208
618,190
596,519
628,402
567,285
608,977
685,975
579,591
664,847
8,504,360.0
7,558,940.0
8,033,770.0
8,899,950.0
8,880,750.0
9,547,700.0
10,700,820.0
15,386,790.0
9,972,160.0
10,686,140.0
10,494,270.0
12,930,950.0
27,748
28,596
29,594
29,910
29,438
28,406
29,924
27,014
27,681
29,825
28,980
33,242
386,561.8
377,947.0
401,688.5
444,997.5
422,892.9
454,652.4
509,562.9
732,704.3
453,280.0
464,614.8
524,713.5
646,547.5
Jan
Feb
Mar
22
20
20
577,412
562,418
618,111
10,531,390.9 26,246
9,542,144.4 28,121
10,160,958.1 30,906
478,699.6
477,107.2
508,047.9
Apr
May
Jun
* Provisional
20
19
22
576,348
584,222
609,310
10,196,792.6 28,817
9,973,060.6 30,749
11,194,401.4 27,696
509,839.6
524,897.9
508,836.4
384.70
507.64
200.06
Bills and Bonds
Loans and Advances
Other Assets
141.00
Other Liabilities
*Provisional
No. of Reporting Banks
2014 2015*
206.36
555.09
380.22
196.24
208.96
611.55
372.66
186.85
211.84
648.52
461.20
202.47
258.17
637.96
502.96
204.47
304.62
674.06
485.93
234.07
298.76
683.46
449.02
216.55
330.20
716.98
533.23
269.12
339.26
715.63
558.57
251.10
347.85
736.25
564.36
246.48
345.58
778.12
546.01
269.85
357.78
794.31
652.20
317.19
382.74
796.86
683.77
286.31
408.62
823.80
712.94
317.64
147.61
160.39
1,029.90
150.86
175.85
1,053.31
149.81
188.65
1,185.57
142.52
231.64
1,229.41
196.60
229.35
1,272.25
199.71
237.33
1,210.34
233.02
246.65
1,369.86
206.80
255.46
1,402.28
216.64
266.53
1,411.37
213.42
277.38
1,448.35
209.83
286.29
1,625.36
145.80
225.50
1,636.60
221.76
304.97
1,735.87
132 133 134 134 134 137 140 140 140 140 140 140 139 140
1,280.58 1,337.90 1,380.01 1,524.03 1,603.57 1,697.66 1,647.78 1,849.53 1,864.55 1,894.95 1,939.56 2,121.48 2,149.70 2,263.01
147.70
Shareholders Funds
Total Liabilities
991.88
Total Deposits
Liabilities
2013
1,280.58 1,337.90 1,380.01 1,524.03 1,603.57 1,697.66 1,647.78 1,849.53 1,864.55 1,894.95 1,939.56 2,121.48 2,149.70 2,263.01
188.18
Total Assets
2012
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Cash Holdings & Balances with Banks
Assets
Table 9. Consolidated Assets and Liabilities of Rural/Community Banks: (Millions of Ghana Cedis)
19
* Provisional
18.00-36.89
18.00-36.89
18.00-36.89
18.00-36.89
18.00-36.89
18.00-36.89
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
18.61-34.25
0.00-18.00
2.00-24.00
4.00-25.50
2.00-22.50
4.50-22.50
7.80-22.50
5.00-20.50
2.00-15.00
2.00-12.50
0.00-7.00
0.00-10.00
24.14
24.03
25.56
24.03
27.31
22.50
23.00
25.40
19.04
18.00
11.71
11.76
25.08
25.58
24.49
25.45
22.37
26.82
21.00
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
0.00-18.00
2.00-25.70
2.00-25.50
2.00-22.50
4.50-22.50
7.80-22.50
5.00-20.50
1.00-15.00
3.00-12.50
0.00-7.00
0.00-10.00
23.94
24.25
25.81
23.33
26.41
22.50
23.00
25.40
19.04
18.00
11.71
11.76
24.32
24.78
24.40
25.35
22.37
26.82
21.00
22.90
24.28
25.85
23.33
26.42
22.50
23.00
25.40
19.04
18.00
20.83
21.00
23.83
24.27
23.94
24.86
22.37
26.82
21.00
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
0.00-18.00
2.00-25.70
2.00-25.50
2.00-22.50
4.50-22.50
7.80-22.50
5.00-18.00
1.00-15.00
3.00-18.00
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
0.00-18.00
2.00-25.70
2.00-25.50
2.00-22.50
7.80-20.00
7.80-20.00
5.00-18.00
1.00-16.00
3.00-18.00
0.00-7.00 0.00-6.5.00
0.00-9.50
0.00-9.50
23.45
24.27
25.83
23.33
26.41
22.50
23.00
25.40
19.04
18.00
11.71
11.76
23.90
24.35
23.98
24.89
22.37
26.82
21.00
0.00-7.00
0.00-10.00
23.20
23.63
25.12
22.86
25.81
22.50
23.00
25.40
19.04
18.00
20.83
21.00
23.83
24.27
23.94
24.86
22.37
26.82
21.00
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
0.00-18.00 0.00-18.50
2.00-24.00 2.00-22.00
2.00-25.50 2.00-24.75
2.00-22.50 2.00-24.00
7.80-20.00 16.00-20.00
7.80-20.00 16.00-20.00
5.00-18.00 5.00-18.00
1.00-16.00 1.00-16.00
2.00-18.00 2.00-18.00
0.00-6.50
0.00-9.50
23.01
23.93
25.45
23.06
26.07
22.50
23.00
25.40
19.04
18.00
20.83
21.00
23.83
24.27
23.94
24.86
22.37
26.82
21.00
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
21.00-36.96
0.00-20.00
2.00-24.00
2.00-26.00
7.40-24.00
7.80-20.00
7.80-20.00
5.00-18.00
1.00-16.00
2.00-18.00
0.00-7.00
0.00-10.00
23.61
23.66
25.15
22.92
22.92
22.50
23.00
25.40
19.04
18.00
21.33
21.50
23.83
24.27
23.94
24.86
22.37
26.82
22.00
19.00-36.96
19.00-36.96
19.00-36.96
19.00-36.96
19.00-36.96
19.00-36.96
0.00-20.00
2.00-24.00
2.00-26.00
7.40-24.00
7.80-20.00
7.80-20.00
5.00-20.00
1.50-16.00
2.00-18.00
0.00-7.00
24.12
23.73
25.23
22.89
25.85
22.50
23.00
25.40
19.04
18.00
21.82
22.00
23.83
24.27
23.94
24.86
22.37
26.82
22.00
15.33-28.86 17.42-29.00 17.42-38.84 19.50-31.83 20.50-31.83 20.50-31.83 21.00-33.85 21.00-33.85 21.00-33.85 19.52-38.30 19.52-38.30 16.70-38.30 16.13-38.30
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
0.00-18.00
2.00-24.00
4.00-25.50
2.00-24.00
4.50-22.50
7.80-22.50
5.00-20.50
2.00-16.00
2.00-12.50
0.00-7.00
0.00-10.00
24.34
24.20
25.75
23.33
26.41
22.50
23.00
25.40
19.04
18.00
11.71
11.76
25.28
25.78
24.50
25.46
23.00
27.73
19.00
C: Base Rates (%)
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
0.00-18.00
2.00-24.00
4.00-25.50
2.00-24.00
4.50-22.50
7.80-22.50
5.00-20.50
2.00-16.00
2.00-25.02
0.00-7.00
0.00-10.00
24.29
23.94
25.46
23.32
26.40
22.50
23.00
25.40
19.04
18.00
11.71
11.76
24.79
25.27
24.50
25.46
23.00
27.73
19.00
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
18.61-37.08
4.50-20.70
6.50-24.70
7.00-25.50
4.50-22.50
4.50-22.50
7.80-20.00
7.80-11.50
2.00-16.00
1.00-25.02
0.00-7.00
0.00-10.00
24.14
23.55
25.02
23.33
26.41
22.50
23.00
25.40
19.04
18.00
11.71
11.76
25.02
25.51
24.88
25.87
23.00
27.73
19.00
B: Lending Rates.(%)
i. Agriculture, Forestry & Fishing
ii. Export Trade
iii. Manufacturing
iv. Mining & Quarrying
v. Construction
vi. Others
0.00-19.10
6.00-24.00
7.00-24.00
4.25-24.00
4.50-23.50
5.00-20.00
7.50-18.00
2.00-16.00
2.00-24.09
24.08
0.00-15.00
3.00-22.00
2.00-22.50
2.00-20.45
4.50-16.00
4.50-15.00
7.50-18.0
2.50-15.00
3.00-12.50
24.06
INTER-BANK MARKET
a. Inter-bank weighted average
23.50
24.97
23.28
26.35
22.50
23.00
24.44
19.04
18.00
0.00-7.00
0.00-12.15
22.72
24.09
19.23
21.28
22.50
23.00
24.44
19.04
18.00
TREASURY BILLS, NOTES & BONDS

a. 91-Day Discount Rate
b. 91-Day Interest Rate Equivalent
c. 182-Day Discount Rate
d. 182-Day Interest Rate Equivalent
e. 1-year Fixed Rate Note
f. 2-year Fixed Rate Note
g. 3-year Fixed Rate Note
h. 5-year Fixed Rate Note
i. 7-year Fixed Rate Note
11.71
11.76
24.32
24.79
23.45
24.33
23.00
27.73
19.00
1.00-6.50
0.00-9.50
11.71
11.76
22.90
23.31
22.56
23.37
18.60
21.58
BANK OF GHANA BILLS

a. 14-Day Discount Rates
b. 14-Day Interest Rate Equivalent
c. 28-Day Discount Rates
d. 28-Day Interest Rate Equivalent
e. 56-Day Discount Rates
f. 56-Day Interest Rate Equivalent
g. 270- Day Interest Rate
h. 270-Day Interest Rate Equivalent
2. COMMERCIAL BANKS
A. Borrowing Rates. (%)
i. Demand Deposits
ii. Savings Deposits 1.50-9.50
iii. Time Deposits
1 month
3 months
6 months
12 months
24 months
36 months
iv. Certificates of Deposit
v. Call Money
vi. Any other
18.00
1. CENTRAL BANK (END PERIOD RATES)

a. Rediscount Rate (Bank Rate)
b. Prime Rate

2014* 2015

Table 10. Interest Rates - Ranges - (%)
20
* Provisional
26.43
26.43
28.98
28.98
28.98
28.98 28.98 28.98 28.98
26.43 26.43 28.98 28.98 28.98 28.98 28.98 28.98
28.98
26.43 26.43 28.98 28.98 28.98 28.98 28.98 28.98
28.98
26.43 26.43 28.98 28.98 28.98 28.98 28.98 28.98
28.98
26.43 26.43 28.98 28.98 28.98 28.98 28.98 28.98
28.98
26.43 26.43 28.98 28.98 28.98 28.98 28.98 28.98
28.98
26.43 26.43 28.98 28.98 28.98 28.98 28.98 28.98
28.98
24.89 25.00 24.59 25.06 25.41 25.47 25.68 26.08 25.41 26.24 26.28 26.17
26.25
27.75
27.45
27.75 27.45
27.75 27.45
27.75 27.45
27.75 27.45
27.75 27.45
27.75 27.45
(c) Base Rates
27.75
27.75
27.75
27.75
27.75
27.75
27.75
27.85
27.85
27.85
27.85
27.85
27.85
27.85
12.50 13.00 14.00 13.00 13.00 13.00 13.85 13.85 13.85 13.00 13.50 13.00
13.00
11.75 13.75 14.75 14.75 14.75 14.75 13.75 13.75 13.75 13.75 14.25 14.00
14.00
12.35 11.23 13.38 13.00 13.00 12.25 12.25 12.25 12.25 12.25 15.75 15.70
15.70
10.25 12.25 12.25 13.50 13.50 13.50 13.50 13.50 13.90 13.90 18.00 13.90
13.90
12.75 12.75 8.25 12.75 12.75 12.75 12.75 11.50 11.50 11.50 11.50 11.50
12.50
8.75 9.00 9.00 9.00 9.00 8.50 8.00 8.00 8.50 8.50 8.50 8.50
8.75
7.75
7.75
7.75
7.75
7.25
7.25
7.75
10.50
10.50
10.00 10.00 10.00 10.00
3.75 4.00 3.50 3.50 3.50 3.50 3.50 3.50 3.25 3.25 3.50 3.50
3.50
5.50 6.75 5.00 5.00 5.00 5.00 5.00 5.00 4.75 4.75 4.75 5.00
5.00
(b) Lending Rates

Agriculture, Forestry & Fishing
Export Trade
Manufacturing
Mining and Quarrying
Construction
Other Sectors
Average Lending Rates
Deposit Money Banks

(a) Deposit Rates
Demand Deposits
Savings Deposits
Time Deposits
3-month
6-month
12-month
24-month
Certificates Of Deposit
Call Money
Any other
24.06 24.08 24.14 24.29 24.34 24.14 23.94 23.45 22.90 23.01 23.20 23.61
24.12
Inter-Bank Weighted Average
24.20
24.03
24.25
24.27
24.28
23.93 23.63 23.66 23.73
25.75
25.56
25.81
25.83
25.85
25.45 25.12 25.15 25.23
23.33 24.03 23.33 23.33 23.33 23.06 22.86 22.92
22.89
26.41
27.31
26.41
26.41
26.42
26.07 25.81 22.92 25.85
22.50 22.50 22.50 22.50 22.50 22.50 22.50 22.50
22.50
23.00
23.00
23.00
23.00
23.00
23.00 23.00 23.00 23.00
25.40
25.40
25.40
25.40
25.40
25.40 25.40 25.40 25.40
19.04
19.04
19.04
19.04
19.04
19.04 19.04 19.04 19.04
18.00
18.00
18.00
18.00
18.00
18.00 18.00 18.00 18.00
18.00 18.00 18.00 19.00 19.00 21.00 21.00 21.00 21.00 21.00 21.00 22.00
22.00
23.55
23.94
25.02
25.46
23.33 23.32
26.41
26.40
22.50 22.50
23.00
23.00
25.40
25.40
19.04
19.04
18.00
18.00
Bank of Ghana Prime Rate
23.50
24.97
23.28
26.35
22.50
23.00
24.44
19.04
18.00
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
22.72
24.09
19.23
21.28
22.50
23.00
24.44
19.04
18.00
Jun
Government of Ghana/ Bank of Ghana instruments

91-day Discount Rate
91-day Interest Rate Equivalent
182-day Discount Rate
182-day Interest Rate Equivalent
1-year Interest Rate
2-year Fixed Interest Rate
3-year fixed Interest Rate
5-year GOG Bond Interest Rate
7-year GOG Bond Interest Rate

2014 2015*
Table 11. Money Market & DMBs Rates (%)
21
Note: New Framework from 2012

*Provisional
TAX REVENUE
4,238.36 1,523.81 4,394.07 1,508.61 4,756.33 2,378.06 5,841.00 1,757.00 1,798.23 2,020.84 5,576.07 1,970.64 1,813.50 2,043.67 5,827.81
TAXES ON INCOME & PROPERTY
2,017.12
630.25
1,930.88
616.86
2,146.06 1,162.10 2,392.51
586.10
625.60
731.84 1,943.54
803.75
653.45
740.09 2,197.30
Personal
695.89 196.58 733.00 189.70 702.75 301.11 868.15 220.49 256.72 212.14 689.36 312.17 309.44 222.25 843.87
Self employed
53.22 11.86 51.44 11.57 49.43 18.62 65.28 29.01 17.35 14.48 60.83 27.26 23.12 16.64 67.03
Companies
658.32 360.70 706.81 354.30 667.89 637.49
1,000.63 202.38 250.26 378.11 830.75 267.59 217.71 412.87 898.16
Company taxes on oil
257.75
0.00
132.26
0.00
346.76
59.87
59.87
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Others
351.94 61.12 307.37 61.30 379.23 145.00 398.57 134.22 101.28 127.11 362.61 196.73 103.19 88.33 388.24
o/w Mineral Royalties
133.23
15.96
115.60
21.08
133.76
8.74
134.46
113.26
11.41
12.77
137.44
104.94
12.57
23.47
140.97
NFSL
33.75
29.77
45.14
31.93
36.60
42.35
46.43
4.76
9.51
38.96
53.23
7.58
1.31
30.91
39.80
Airport tax
11.46
3.31
28.96
0.00
2.52
12.13
12.13
0.00
18.22
12.72
30.94
18.54
12.11
21.43
52.08
TAXES ON DOMESTIC GOODS AND SERVICES 1,396.24 540.11 1,558.97 551.01 1,597.06 741.23
1,882.02 739.03 655.19 808.51
2,202.73 753.78 773.75 858.56
2,386.09
Excises
178.78 66.99 189.99 63.51 174.28 95.99 221.26 217.72 168.76 212.09 598.57 207.32 182.95 198.19 588.47
Excise Duty
37.19
10.54
33.66
11.37
30.76
17.54
45.20
17.47
15.23
15.82
48.52
14.17
16.07
17.55
47.78
Petroleum tax
141.59
56.44
156.33
52.14
143.52
78.46
176.06
200.25
153.53
196.27
550.05
193.16
166.88
180.65
540.69
o/w Debt recovery levy
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
VAT
994.63 387.60 1,130.03 402.71 1,173.28 527.89
1,373.71 437.01 406.36 486.34
1,329.71 451.99 495.17 544.49
1,491.64
Domestic
387.31
143.38
464.51
162.14
471.81
233.31
591.45
164.71
176.87
186.73
528.31
183.07
206.14
218.39
607.61
External
607.32
244.22
665.52
240.57
701.47
294.58
782.25
272.30
229.49
299.62
801.41
268.91
289.03
326.09
884.03
National Health Insurance Levy (NHIL)
171.12 64.69 186.90 67.48 196.33 84.81 227.37 70.77 66.56 79.53 216.86 73.28 80.87 88.46
242.61
Customs Collection
106.56
40.79
109.48
40.46
117.70
45.92
129.01
43.32
37.08
48.41
128.81
42.76
46.51
52.06
141.34
Domestic Collection
64.55
23.90
77.42
27.02
78.64
38.89
98.36
27.45
29.48
31.12
88.05
30.51
34.36
36.40
101.27
Communication Service Tax
51.71 20.84 52.04 17.32 53.17 32.53 59.68 13.53 13.51 30.55 57.59 21.19 14.75 27.42 63.37
TAXES ON INTERNATIONAL TRADE
824.99
353.44
904.22
340.74
1,013.22
474.73 1,566.48
431.87
517.44
480.49 1,429.80
413.11
386.29
445.02 1,244.43
Imports
624.62 242.86 644.75 235.98 690.14 332.62 813.16 233.23 254.94 270.01 758.18 246.92 278.32 293.56 818.80
Import duty
624.62
242.86
644.75
235.98
690.14
332.62
813.16
233.23
254.94
270.01
758.18
246.92
278.32
293.56
818.80
Exports
0.00 0.00 0.00 0.00 0.00 0.00
318.55 80.58 0.00 0.00 80.58 0.00 0.00 0.00 0.00
Cocoa
0.00
0.00
0.00
0.00
0.00
0.00
318.55
80.58
0.00
0.00
80.58
0.00
0.00
0.00
0.00
Import Exemptions
200.38 110.58 259.46 104.76 323.07 142.11 434.77 118.06 262.50 210.48 591.04 166.19 107.97 151.46 425.62
SOCIAL CONTRIBUTIONS
60.87 23.78 51.80 12.37 58.20 13.53 47.33 0.00 0.00 26.90 26.90 5.27 22.74 58.96 86.97
SSNIT Contribution to NHIL
60.87
23.78
51.80
12.37
58.20
13.53
47.33
0.00
0.00
26.90
26.90
5.27
22.74
58.96
86.97
NON-TAX REVENUE
1,252.33 241.76 896.27 245.37 1,270.84 374.88
1,063.93 193.31 370.66 983.74
1,547.71 381.50 393.77 239.32
1,014.59
Retention
711.99 192.55 582.01 214.59 639.44 165.39 563.85 159.24 201.32 204.12 564.68 192.44 186.56 192.55 571.54
Lodgement
540.35 49.21 314.26 30.78 631.40 209.50 500.07 34.07 169.34 779.62 983.03 189.06 207.21 46.77 443.05
Fees & Charges
67.83
26.67
64.12
30.78
90.55
42.63
107.34
34.07
30.30
38.62
102.99
38.96
55.91
46.77
141.64
Dividend/Interest & profits from Oil
372.56
0.00
211.41
0.00
458.54
166.35
392.20
0.00
136.10
140.82
276.92
138.08
147.35
0.00
285.42
Dividend/Interest & profits (Others)
99.91
22.54
38.50
0.00
79.42
0.00
0.00
0.00
0.00
600.10
600.10
12.02
3.94
0.00
15.96
DOMESTIC REVENUE
5,551.56 1,789.35 5,342.13 1,766.35 6,085.37 2,766.47 6,952.26 1,950.31 2,168.89 3,031.48 7,150.68 2,357.41 2,230.01 2,341.95 6,929.38
GRANTS
143.96 59.49 231.29 185.88 367.39 27.97 71.50 24.38 103.25 144.28 271.92 20.77 71.40
531.04
623.21
Project grants
141.73
59.49
231.29
185.88
342.79
27.97
71.50
24.38
103.25
144.28
271.92
20.77
71.40
83.03
175.20
Programme grants
2.23
0.00
0.00
0.00
24.60
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
448.01
448.01
HIPC Assistance (multilaterals)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Multilateral Debt Relief Initiative (MDRI)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
TOTAL REVENUE & GRANTS
5,695.52 1,848.85 5,573.42 1,952.24 6,452.76 2,794.45 7,023.76 1,974.69 2,272.15 3,175.77 7,422.60 2,378.18 2,301.41 2,872.99 7,552.58

2014*
2015*

Q1 Jun Q2 Sep Q3
Dec Q4 Jan Feb
Mar Q1 Apr
May Jun Q2
Table 12. Central Government Budget (Revenue) [Broad Budget Coverage]: (Millions of Ghana Cedis)
22
204.53
161.62
42.91
0.00
35.12
Pensions
Gratuities
Social Security
Use of Goods and Services
Oil (30% of ABFA)
261.14
0.00
Subsidies on Petroleum products
0.00
Dist. Ass. Common Fund
Lifeline consumers of electricity
0.00
38.53
0.00
10.66
47.14
57.80
757.62
148.99
0.00
9.90
47.28
57.19
842.81
825.18
58.57
83.06
10.73
48.71
142.50
246.09
83.06
31.29
143.13
257.49
2,425.62
915.17
212.64
199.88
19.51
59.48
278.87
212.62
0.00
9.69
63.97
73.67
898.13
789.23
315.49
186.27
18.68
70.19
275.13
740.75
386.15
47.88
193.65
627.67
2,602.52
42.69
367.34
183.60
1,656.92
27.54
469.02
279.31
1,346.15
32.12
1,178.38
245.86
1,969.57
457.67
182.84
581.47
158.34
65.68
535.93
406.87
1,575.07
538.45
244.83
43.85
477.90
55.10
492.41
343.78
1,508.77
0.00
0.00
0.00
0.00
0.00
0.00
0.00
473.72
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
192.55
0.00
0.41
20.13
0.00
72.80
72.76
582.01
0.00
1.25
59.15
0.00
230.35
0.00
214.59
0.00
0.38
18.56
0.00
71.50
172.20
639.44
0.00
1.14
55.18
0.00
239.96
65.69
165.39
220.31
0.40
19.11
176.01
117.54
133.44
563.85
330.31
1.24
60.09
328.75
330.62
0.00
159.24
0.00
0.54
26.30
0.00
51.00
48.63
201.32
0.00
0.39
18.77
0.00
86.20
78.26
204.12
0.00
0.48
23.18
42.26
63.20
126.89
564.68
0.00
1.41
68.25
42.26
200.40
52.00
61.62
192.44
375.86
0.39
17.47
166.00
54.68
186.56
0.00
0.45
21.55
0.00
261.90
0.00
192.55
0.00
0.41
20.13
68.24
133.40
116.30
571.54
375.86
1.25
59.15
234.24
447.30
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
110.58
0.00
259.46
0.00
104.76
0.00
323.07
0.00
142.11
0.00
434.77
0.00
118.06
0.00
262.50
0.00
210.48
0.00
591.04
0.00
166.19
0.00
107.97
0.00
151.46
0.00
425.62
0.00
896.12
Loan recoveries
Foreign financed
474.88
0.00
0.00
1,300.37
0.00
0.00
0.00
601.44
0.00
0.00
0.00
103.97
103.97
1,449.63
0.00
0.00
0.00
328.47
328.47
316.30
0.00
0.00
0.00
415.97
415.97
1,184.35
0.00
0.00
0.00
531.41
531.41
1,052.88
0.00
0.00
0.00
0.00
0.00
484.83
0.00
0.00
0.00
0.00
0.00
400.90
0.00
0.00
0.00
16.88
16.88
1,938.61
0.00
0.00
0.00
16.89
16.89
309.08
0.00
0.00
0.00
39.90
39.90
174.31
0.00
0.00
0.00
116.69
116.69
281.00
0.00
0.00
0.00
100.59
100.59
764.39
0.00
0.00
0.00
257.19
257.19
6,031.89 2,393.48 7,678.09 2,538.06 8,228.57 4,341.81 10,023.65 2,902.49 2,891.43 2,667.64 8,461.56 3,570.92 2,630.28 2,875.15
9,076.35
Note: New Framework

* Provisional
TOTAL EXP. & NET LENDING
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00
0.00
New loans
0.00
326.13
326.13
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00
0.00
Net lending
109.00
109.00
MDRI financed expenditure
79.21
Assets
HIPC financed expenditure
79.21
Domestic financed
975.32 583.87
1,626.50 705.40
1,778.10 732.27 1,715.76
1,052.88 484.83 417.78
1,955.49 348.98 291.00 381.59
1,021.58
0.00
200.38
Tax Expenditure (Exemptions)
Acquisition of Non-Financial Assets
1,033.77
40.03
231.20
120.79
392.02
2,483.58
200.38 110.58 259.46 104.76 323.07 142.11 434.77 118.06 262.50 210.48 591.04 166.19 107.97 151.46
425.62
Reserve Expenditure Vote
Other Expenditure
520.96
0.00
17.94
49.36
67.29
904.23
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00
138.96
1.27
Petroleum Related Fund
711.99
50.56
Road Fund
Transfer to GNPC from Oil Revenue
0.00
Education Trust Fund
Retention of Internally-generated funds (IGFs)
146.27
National Health Fund (NHF)
Social Benefits
376.49
0.00
40.28
147.37
187.64
2,356.17
1,049.04 285.90 945.52 305.03

1,107.92 764.44 1,748.31 237.09 355.31 411.50
1,003.90 865.79 525.13 414.74
1,805.66
0.00
Subsidies to Utility Companies
Grants to Other Government Units
74.28
0.00
17.37
48.07
65.45
786.57
0.00 0.00 0.00 0.00

473.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00
1,138.32
External (Due)
Subsidies
331.25
0.00
51.97
182.08
234.05
2,440.78
1,399.46 410.04
1,840.52 496.56
1,625.45
1,210.50 2,215.43 640.51 739.81 601.61
1,981.94 783.28 521.76 547.51
1,852.54
Domestic
Interest Payments
86.86
0.00
25.59
86.30
111.89
804.34
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00
2,168.04
2,372.57 916.24
2,674.83 852.01
2,543.81 971.52 2,875.61 815.43 899.99 967.68
2,683.10
1,194.04 971.79
1,064.36
3,230.20
Social Contributions
o/w Recurrent Expenditure share of ABFA from
2015*
Q1 Jun Q2 Sep Q3 Dec Q4 Jan Feb Mar Q1 Apr May Jun Q2
Wages & Salaries
Compensation of Employees

2014*
Table 13. Central Government Budget (Expenditure) [Broad Budget Coverage]: (Millions of Ghana Cedis)
23
2014*
2015*
Q1 Jun Q2 Sep Q3 Dec Q4 Jan Feb Mar Q1 Apr

May Jun Q2
Note: New Framework

* Provisional
Overall balance (Commitment)

-336.38 -544.64 -2,104.68 -585.82 -1,775.81 -1,547.36 -2,999.88 -927.81 -619.29 508.13 -1,038.97 -1,192.74 -328.87
-2.16 -1,523.77
(percent of GDP)
-0.30
-0.48
-1.87
-0.52
-1.58
-1.37
-2.66
-0.70
-0.46
0.38
-0.78
-0.89
-0.25
0.00
-1.14
Road Arrears (net change)
-153.31 0.00 0.00 0.00 0.00
-30.07
-78.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
o/w Commitments & certs for works done
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Non-road arrears
-1,489.04 -30.44 -321.85 -212.22 -796.46
-1,057.35
-1,241.49 -58.77 -89.38 -136.49 -284.64 -279.85 -67.57 -130.30 -477.73
o/w other outstanding/deferred payments
-1,331.08
-30.44
-321.85
-78.37
-198.74
-976.69 -1,160.83
-58.77
-89.38
-136.49
-284.64
-120.05
-67.57
-30.44
-218.07
o/w Wage arrears
-244.33
-31.97
-137.96
-14.67
-60.04
-62.36
-125.29
-58.77
-89.38
-19.96
-168.11
-120.05
-31.57
-23.66
-175.29
Tax Refunds
-55.28 -26.34 -43.06 -9.53 -29.75 -3.45 -28.57 -26.45 -60.93 -72.98
-160.36 -21.19 -29.70 -19.57 -70.47
Required Fiscal Measures
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Transfers into Oil Fund
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Overall balance (cash)
-2,034.01 -601.42 -2,469.59 -807.57 -2,602.02 -2,638.23 -4,348.35 -1,013.03 -769.60 298.66 -1,483.96 -1,493.78 -426.14 -152.03 -2,071.96
(percent of GDP)
-1.81
-0.53
-2.19
-0.72
-2.31
-2.34
-3.86
-0.76
-0.58
0.22
-1.11
-1.12
-0.32
-0.11
-1.55
Divestiture receipts
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Divestiture liabilities
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Discrepancy
-324.46 -111.90 -45.02 660.74 245.66 240.51 27.17 -389.73 -24.22 333.45 -80.49 29.24 556.10 33.58 618.91
Overall balance (incl. Divestiture and Discrepancy) -2,358.47 -713.32 -2,514.61 -146.83 -2,356.36 -2,397.72 -4,321.18 -1,402.75 -793.81 632.11 -1,564.45 -1,464.54 129.95 -118.46 -1,453.04
Financing
2,358.47 713.32 2,514.61 146.83 2,356.36 2,397.72 4,321.18 1,402.75 793.81 -632.11 1,564.45 1,464.54 -129.95 118.46 1,453.04
Foreign (net)
611.42
274.43
613.99 3,468.13 4,021.86
159.98
626.87
871.38
335.44
-16.04 1,190.79
88.83
-142.52
5.05
-48.64
Borrowing
754.39
415.38
1,069.08
3,577.46
4,268.76
288.33
1,112.85
1,028.50
381.58
256.62
1,666.69
288.31
102.91
197.97
589.19
Project loans
754.39
415.38
1,069.08
415.55
1,106.84
288.33
1,112.85
1,028.50
381.58
256.62
1,666.69
288.31
102.91
197.97
589.19
Programme loans
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Sovereign Bond
0.00
0.00
0.00
3,161.91
3,161.91
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Amortisation (due)
-142.97
-140.95
-455.09
-109.33
-246.90
-128.35
-485.98
-157.12
-46.13
-272.65
-475.90
-199.48
-245.43
-192.92
-637.84
Exceptional financing
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Domestic (net)
2,168.33
460.10
1,569.94 -3,304.76 -1,172.54 2,399.05
3,576.92
548.06
468.44
-590.54
425.97
1,191.36
21.85
134.77 1,347.98
Banking
2,341.39
236.32
738.97 -3,412.29 -1,303.94
684.26
1,241.52
374.25
318.18 -1,320.93
-628.51
1,151.82
-207.52
-248.06
696.24
Bank of Ghana
2,721.41
-159.50
629.56 -2,998.60 -1,000.51
-630.56
-768.97
423.22
312.05 -2,363.68 -1,628.42
1,265.60
677.76
84.81
2,028.18
Commercial Banks
-380.03
395.82
109.41
-413.69
-303.43
1,314.82
2,010.49
-48.97
6.12
1,042.75
999.91
-113.78
-885.28
-332.88 -1,331.94
Non-banks
-173.05
223.78
830.97
107.53
131.40
1,714.79
2,335.40
173.81
150.27
730.39
1,054.48
39.54
229.37
382.84
651.75
o/w Reduction due to HIPC-Financed Debt Buyback 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Domestic
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other Financing
-35.62
-21.22
-59.19
-16.54
-39.22
-18.82
-106.28
-16.69
-10.07
-25.54
-52.30
-21.37
-9.28
-21.37
-52.01
Ghana Petroleum Funds
-385.67 0.00
439.87 0.00
-453.74
-142.49
223.67 0.00 0.00 0.00 0.00
205.72 0.00 0.00
205.72
Transfer to Ghana Petroleum Funds
-385.67
0.00
-59.59
0.00
-498.93
-142.49
-142.49
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
o/w Stabilisation Fund
-269.97
0.00
-41.71
0.00
-349.25
-99.74
-99.74
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
o/w Heritage Fund
-115.70
0.00
-17.88
0.00
-149.68
-42.75
-42.75
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Transfer from stabilisation fund
0.00
0.00
499.46
0.00
45.19
0.00
366.16
0.00
0.00
0.00
0.00
205.72
0.00
0.00
205.72
Contingency Fund
0.00 0.00
-50.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Nominal GDP (Including Oil)
112,610.60 112,610.60 112,610.60 112,610.60 112,610.60 112,610.60 112,610.60 133,344.08 133,344.08 133,344.08 133,344.08 133,344.08 133,344.08 133,344.08 133,344.08
Nominal GDP (Excluding oil)
104,476.33 106,902.00 104,476.33 106,902.00 104,476.33 106,902.00 106,902.00 123,098.63 123,098.63 123,098.63 123,098.63 123,098.63 123,098.63 123,098.63 123,098.63
Million Ghana Cedis
Memorandum items
Total revenue and grants
5,695.52
1,848.85
5,573.42 1,952.24 6,452.76 2,794.45
7,023.76
1,974.69
2,272.15 3,175.77 7,422.60
2,378.18 2,301.41 2,872.99 7,552.58
per cent of GDP
5.06
1.64
4.95
1.73
5.73
2.48
6.24
1.48
1.70
2.38
5.57
1.78
1.73
2.15
5.66
Compensation of Employees
2,372.57
916.24
2,674.83
852.01 2,543.81
971.52
2,875.61
815.43
899.99
967.68 2,683.10
1,194.04
971.79 1,064.36 3,230.20
per cent of GDP
2.11
0.81
2.38
0.76
2.26
0.86
2.55
0.61
0.67
0.73
2.01
0.90
0.73
0.80
2.42
Interest payments
1,399.46
410.04
1,840.52
496.56 1,625.45 1,210.50
2,215.43
640.51
739.81
601.61 1,981.94
783.28
521.76
547.51 1,852.54
per cent of GDP
1.24
0.36
1.63
0.44
1.44
1.07
1.97
0.48
0.55
0.45
1.49
0.59
0.39
0.41
1.39
Non-Financial Assets (Capital Expenditure)
975.32
583.87
1,626.50
705.40 1,778.10
732.27
1,715.76
1,052.88
484.83
417.78 1,955.49
348.98
291.00
381.59 1,021.58
per cent of GDP
0.87
0.52
1.44
0.63
1.58
0.65
1.52
0.79
0.36
0.31
1.47
0.26
0.22
0.29
0.77
Total expenditure & net lending
6,031.89
2,393.48
7,678.09 2,538.06 8,228.57 4,341.81 10,023.65
2,902.49
2,891.43 2,667.64 8,461.56
3,570.92 2,630.28 2,875.15 9,076.35
per cent of GDP
5.36
2.13
6.82
2.25
7.31
3.86
8.90
2.18
2.17
2.00
6.35
2.68
1.97
2.16
6.81
Overall Budget Balance
-2,358.47
-713.32 -2,514.61
-146.83 -2,356.36 -2,397.72 -4,321.18 -1,402.75
-793.81
632.11 -1,564.45 -1,464.54
129.95
-118.46 -1,453.04
per cent of GDP
-2.09
-0.63
-2.23
-0.13
-2.09
-2.13
-3.84
-1.05
-0.60
0.47
-1.17
-1.10
0.10
-0.09
-1.09
Domestic Primary Balance
1,435.51
142.54
716.85
977.50 1,147.79
188.53
327.00
325.02
416.96 1,626.83 2,368.82
-113.10
822.20
309.31 1,018.41
per cent of GDP
1.27
0.13
0.64
0.87
1.02
0.17
0.29
0.24
0.31
1.22
1.78
-0.08
0.62
0.23
0.76
Stock of Domestic Debt
27,197.32 27,925.40 27,925.40 31,035.06 28,044.87 34,620.86 34,620.86 34,556.09 34,789.37 36,542.70 36,542.70 34,556.09 34,789.37 36,542.70 36,542.70
per cent of GDP
24.15
24.80
24.80
27.56
24.90
30.74
30.74
25.91
26.09
27.40
27.40
25.91
26.09
27.40
27.40
Domestic Financing (Net)
2,168.33
460.10
1,599.86 -3,304.76 -1,172.54 1,484.72
2,662.59
548.06
468.44
-590.54
425.97
21.85
134.77 1,249.21 1,405.83
per cent of GDP
1.93
0.41
1.42
-2.93
-1.04
1.32
2.36
0.41
0.35
-0.44
0.32
0.02
0.10
0.94
1.05
Table 14. Central Government Fiscal Position (Financing): (Millions of Ghana Cedis)
24
Q1 Jun Q2 Sep Q3 Dec Q4 Jan Feb Mar Q1 Apr

May Jun Q2
* Provisional
TOTAL RECEIPTS
3,993.89 1,509.70 4,488.30 1,821.14 4,773.61 2,248.34 5,567.05 1,525.04 1,916.25 2,917.71 6,359.01 2,058.73 2,727.21 2,111.38 6,897.31
CUSTOMS (CEPS)
1,425.71
566.81
1,512.10
548.68
1,602.21
703.24
1,821.88
703.06
612.02
783.83
2,098.91
754.64
809.60
613.78
2,178.02
DOMESTIC TAX DIRECT (IRS)
1,615.62
630.25
1,717.06
618.14
1,623.20
1,038.05
2,181.31
586.10
573.09
677.51
1,836.69
596.60
740.09
704.94
2,041.63
DOMESTIC TAX INDIRECT (VAT)
480.23
212.68
544.08
195.85
592.49
368.41
763.77
121.24
198.84
250.16
570.23
321.40
237.42
303.47
862.29
OIL REVENUE (ABFA)
0.00
26.96
560.41
0.00
285.84
82.48
326.86
0.00
143.10
115.09
258.19
153.46
0.00
137.21
290.68
COCOA
0.00 0.00 0.00 0.00 0.00 0.00
318.55 80.58 0.00 0.00 80.58 0.00 0.00 0.00 0.00
GRANTS
2.23 0.00 0.00 0.00 24.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00
448.01
284.97
732.98
NON-TAX RECEIPTS
167.79
49.21
102.85
30.78
171.73
42.63
107.34
34.07
30.30
638.72
703.09
55.91
46.77
52.78
155.47
NHIL
60.87 23.78 51.80 12.37 58.20 13.53 47.33 0.00 0.00 26.90 26.90 0.00 58.96 14.22 73.18
OTHER RECEIPTS
241.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TAX EXEMPTIONS
0.00
0.00
0.00
415.33
415.33
0.00
0.00
0.00
358.90
425.51
784.41
176.70
382.26
0.00
558.96
TOTAL PAYMENTS
6,019.25 1,828.85 6,127.64 1,568.24 6,504.88 3,604.71 8,099.50 2,031.15 2,338.57 2,054.52 6,424.24 1,835.14 2,669.06 3,011.75 7,515.95
INTEREST (DOMESTIC)
1,110.92
346.01
1,611.78
458.45
1,316.50
1,157.42
1,920.66
447.63 573.21 518.85 1,539.69 470.52 468.73 738.45 1,677.70
INTEREST (EXTERNAL)
261.14
43.36
186.39
27.54
279.31
39.82
248.63
182.84
158.34
65.68
406.87
43.85
55.10
259.20
358.15
OTHERS
4,647.19 1,439.49 4,329.47 1,082.26 4,909.08 2,407.47 5,930.21 1,400.67 1,607.02 1,469.99 4,477.68 1,320.77 2,145.23 2,014.11 5,480.10
SUMMARY
RECEIPTS
3,993.89 1,509.70 4,488.30 1,821.14 4,773.61 2,248.34 5,567.05 1,525.04 1,916.25 2,917.71 6,359.01 2,058.73 2,727.21 2,111.38 6,897.31
PAYMENTS
6,019.25 1,828.85 6,127.64 1,568.24 6,504.88 3,604.71 8,099.50 2,031.15 2,338.57 2,054.52 6,424.24 1,835.14 2,669.06 3,011.75 7,515.95
SURPLUS/DEFICIT (-)
-2,025.37 -319.15 -1,639.34 252.90 -1,731.28 -1,356.37 -2,532.46 -506.10 -422.31 863.19 -65.23 223.58 58.15 -900.38 -618.64
FINANCING
2,025.37 319.15 1,639.34 -252.90 1,731.28 1,356.37 2,532.46 506.10 422.31 -863.19 65.23
-223.58 -58.15 900.38 618.64
DOMESTIC (NET)
2,168.33 460.10 1,599.86 -3,304.76 -1,172.54 1,484.72 2,662.59 548.06 468.44 -590.54 425.97 21.85 134.77 1,249.21 1,405.83
BANKING
2,341.39
236.32
768.90 -3,412.29 -1,303.94
684.26
1,241.52
374.25
318.18 -1,320.93
-628.51
-207.52
-248.06
1,278.73
823.15
BANK OF GHANA
2,721.41
-159.50
629.56 -2,998.60 -1,000.51
-630.56
-768.97
423.22
312.05 -2,363.68 -1,628.42
677.76
84.81
1,246.10
2,008.68
DEPOSIT MONEY BANKS
-380.03
395.82
139.34
-413.69
-303.43
1,314.82
2,010.49
-48.97
6.12
1,042.75
999.91
-885.28
-332.88
32.63 -1,185.53
NON-BANK
-173.05 223.78 830.97 107.53 131.40 800.46
1,421.07 173.81 150.27 730.39
1,054.48 229.37 382.84 -29.52 582.68
NON-RESIDENTS
-595.70
0.00
230.68
274.93
407.40
-96.13
7.97
-81.22
70.90
162.13
151.80
151.36
33.67
-141.69
43.34
FOREIGN (NET)
-142.97 -140.95 -455.09 3,051.86 2,903.81 -128.35 -496.37 -41.96 -46.13 -272.65 -360.74 -245.43 -192.92 -348.83 -787.19
INFLOWS
0.00 0.00 0.00
3,161.19
3,161.19 0.00 0.00
463.75 0.00 0.00
463.75 0.00 0.00 0.00 0.00
EXCEPTIONAL FINANCING
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
LOAN REPAYMENT
-142.97
-140.95
-455.09
-109.33
-257.38
-128.35
-496.37
-505.71
-46.13
-272.65
-824.50
-245.43
-192.92
-348.83
-787.19
SAVINGS(+)/DISSAVINGS(-) FROM GGILBS -142.97 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Domestic Financing
0.00 0.00 0.00 0.00 0.00 0.00
366.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MEMORANDUM ITEMS
GDP AT CURRENT PRICES (NON-OIL)
104,818.00 104,818.00 104,818.00 104,818.00 104,818.00 104,818.00 104,818.00 123,098.63 123,098.63 123,098.63 123,098.63 123,098.63 123,098.63 123,098.63 123,098.63
GDP AT CURRENT PRICES (OIL)
112,611.00 112,611.00 112,611.00 112,611.00 112,611.00 112,611.00 112,611.00 133,344.08 133,344.08 133,344.08 133,344.08 133,344.08 133,344.08 133,344.08 133,344.08
DOMESTIC PRIM. BALANCE
-655.53 70.22 188.76 738.89 -160.08 -159.14 -363.17 124.37 309.24
1,447.72
1,881.33 737.96 129.87 -187.70 680.13
(In Percent of GDP)
-0.582
0.062
0.168
0.656
-0.142
-0.141
-0.322
0.093
0.232
1.086
1.411
0.006
0.001
-0.001
0.510
BUDGET BALANCE
-2,025.37 -319.15 -1,609.41 252.90 -1,731.28 -1,356.37 -2,532.46 -506.10 -422.31 863.19 -65.23 223.58 58.15 -900.38 -618.64
(In Percent of GDP)
-1.799
-0.283
-1.429
0.225
-1.537
-1.204
-2.249
-0.380
-0.317
0.647
-0.049
0.002
0.000
-0.007
-0.464
Domestic Revenue
3,991.65 1,509.70 4,488.30 1,821.14 4,749.00 2,248.34 5,567.05 1,525.04 1,916.25 2,917.71 6,359.01 2,058.73 2,275.10 1,826.41 6,160.23
Domestic Expenditure
4,647.19 1,439.49 4,329.47 1,082.26 4,909.08 2,407.47 5,930.21 1,400.67 1,607.02 1,469.99 4,477.68 1,320.77 2,145.23 2,014.11 5,480.10
Net Domestic Financing
2,168.33 460.10 1,599.86 -3,304.76 -1,172.54 1,484.72 2,662.59 548.06 468.44 -590.54 425.97 21.85 134.77 1,249.21 1,405.83
Net Changes in Road Arrears
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Changes in Non-Road Arrears
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2014 2015*

Table 15. Fiscal Position - Narrow Coverage: (Millions of Ghana Cedis)

25
Non-Bank Sector
4,748.49
4,855.75
691.95
601.30
Non-Bank Sector
1,069.30
Non-Bank Sector
172.93
94.45
Non-Bank Sector
0.00
Non-Bank Sector
682.00
7,759.63
Non-Bank Sector
* Provisional
7,368.89
15,128.53
Deposit Money Banks
Govt of Ghana instruments
SUMMARY
29.95
368.41
Non-Bank Sector
398.36
Deposit Money Banks
Government stocks
6,201.62
2,934.39
9,136.01
5,998.45
2,548.25
8,546.70
6,250.67
2,221.20
8,471.86
6,500.76
2,142.77
8,643.54
748.68
801.27
837.19
996.55
1,013.19
1,440.59
1,132.97
1,687.99
1,290.62
2,391.53
1,413.79
3,079.52
1,498.24
2,921.16
1,510.74
3,040.56
1,568.82
4,019.18
1,795.38
3,986.21
1,796.31
3,739.96
1,904.88
3,849.23
597.06
1,109.17
571.71
1,037.08
532.01
941.66
483.89
903.75
480.75
885.80
440.44
812.80
437.83
762.80
437.20
763.06
435.70
760.31
450.25
765.51
462.54
768.71
469.44
770.09
1,068.66
2,195.03
1,020.49
2,026.05
1,011.54
1,802.05
1,006.29
1,670.05
994.34
1,701.05
982.00
1,613.22
970.84
1,270.20
969.74
985.20
954.11
1,241.84
961.01
1,233.34
949.08
1,223.34
950.69
1,068.34
178.56
979.62
202.75
820.45
226.77
671.20
219.12
614.74
218.84
694.52
218.84
533.26
219.16
467.88
299.30
561.17
304.43
562.21
306.63
581.35
290.25
420.77
293.53
417.02
95.63
485.87
102.73
274.77
107.62
266.88
114.41
247.09
109.28
568.02
114.24
253.65
101.70
260.09
95.88
271.92
102.17
299.16
90.58
319.62
101.08
303.02
106.43
264.47
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
7,709.87
7,807.72
15,517.59
368.41
29.95
398.36
682.00
7,693.67
7,438.58
15,132.25
368.41
29.95
398.36
682.00
7,847.28
7,220.46
15,067.74
368.41
29.95
398.36
682.00
8,358.63
7,372.77
15,731.40
368.41
29.95
398.36
682.00
8,353.50
8,410.55
16,764.05
368.41
29.95
398.36
682.00
9,744.74
9,381.68
19,126.41
1,282.74
0.03
1,282.77
682.00
9,961.59
9,291.78
19,253.37
1,282.74
0.03
1,282.77
682.00
10,085.27
9,429.45
19,514.72
1,282.74
0.03
1,282.77
682.00
682.00
1,074.55
0.03
1,074.58
682.00
1,074.55
0.03
1,074.58
682.00
1,074.55
0.03
1,074.58
10,747.41 10,586.27
10,601.29 10,206.89
10,823.40
9,460.10
11,193.86
9,300.37
21,348.71 20,793.16 20,283.50 20,494.24
1,282.74
0.03
1,282.77
682.00
682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00
0.00
Deposit Money Banks
Deposit Money Banks
5,585.55
3,029.63
8,615.17
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
629.55
Deposit Money Banks
TOR Bond
5,552.79
2,825.92
8,378.70
724.00 581.50 377.50 374.50 361.50 677.30 367.89 361.79 367.79 401.33 410.20 404.10 370.90
764.89
Deposit Money Banks
Non-Bank Sector
5-Year Golden Jubilee Bond
5,406.93
2,292.96
7,699.89
937.82 1,158.18
1,023.20 897.97 833.86 913.35 752.09 687.04 860.48 866.64 887.98 711.03 710.56
2,256.61
Deposit Money Banks
5-Year GOG Bond
5,000.56
1,348.40
6,348.95
3,325.91 3,263.69 3,046.54 2,813.59 2,676.34 2,695.39 2,595.22 2,241.04 1,954.95 2,195.94 2,194.34 2,172.42 2,019.03
947.67
Deposit Money Banks
3-Year Fixed Rate Treasury Note
5,147.95
1,422.79
6,570.74
1,548.97 1,706.24 1,608.79 1,473.67 1,387.64 1,366.55 1,253.24 1,200.63 1,200.26 1,196.01 1,215.76 1,231.25 1,239.53
515.04
2-Year Fixed Rate Treasury Note
4,695.36
1,278.51
5,973.87
1,206.98 1,549.95 1,833.74 2,453.78 2,820.97 3,682.15 4,493.31 4,419.39 4,551.31 5,588.00 5,781.59 5,536.27 5,754.11
Non-Bank Sector
Treasury Notes (1-year)
4,693.12
1,469.00
6,162.12
8,425.68 8,941.56 8,571.76 8,695.50 8,762.30 10,016.74 10,143.76 9,591.90 9,616.78

10,929.93
11,171.88
10,737.06
10,776.12
Deposit Money Banks
Treasury Bills (182-days)
Medium-Term Assets
1,429.17
1,448.73
6,177.66
6,304.48
Treasury bills (91-Days)
Deposit Money Banks
6,304.48 6,177.66 6,162.12 5,973.87 6,570.74 6,348.95 7,699.89 8,378.70 8,615.17 9,136.01 8,546.70 8,471.86 8,643.54
Short-Term Assets
2014
2015*

Jun
Jul Aug Sep Oct Nov Dec Jan Feb Mar April May Jun

Table 16. Outstanding Stock of Selected Financial Assets: (Millions of Ghana Cedis)
26
17,046.74 17,226.11 17,539.57 17,071.74 17,141.41 17,420.10

9,617.69 9,359.42 10,049.12 9,804.29 9,678.24 8,894.22
7,429.05 7,866.69 7,490.46 7,267.45 7,463.17 8,525.88
7,895.80 7,847.22 7,838.12 7,996.61 8,514.76 8,504.50
660.77
723.08
667.28
715.81
696.10
698.97
55.04
56.89
59.50
59.94
60.55
60.84
-
-
-
-
-
-
7,179.99 7,067.25 7,111.34 7,220.87 7,758.11 7,744.69
5,559.30 5,547.97 5,691.77 5,966.70 5,899.30 6,070.80
30,501.84 30,621.31 31,069.47 31,035.06 31,555.47 31,995.40
18,745.48 18,557.62 18,637.14 19,559.91 19,128.05 18,370.07 18,181.51

9,293.51 9,285.55 9,251.57 9,008.79 8,959.75 8,959.05 8,935.57
9,451.97 9,272.07 9,385.57 10,551.12 10,168.31 9,411.02 9,245.94
9,900.70 10,105.02 10,187.87 10,856.30 10,683.58 10,931.20 11,307.02
1,563.56 1,522.60 1,491.78 1,478.08 1,379.90 1,437.40 1,519.00
63.34
73.68
73.59
77.24
79.88
76.10
90.17
-
-
-
-
-
-
8,273.80 8,508.73 8,622.50 9,300.99 9,223.80 9,417.71 9,697.84
5,974.68 5,893.45 5,964.35 6,126.48 6,199.64 6,351.00 6,384.67
34,620.86 34,556.09 34,789.37 36,542.70 36,011.27 35,652.27 35,873.20
2014
2015*
* Provisional
9,904.01 10,148.60 10,418.90 10,563.58 11,462.21 11,883.17 13,686.12 14,242.00 14,611.03 15,921.24 15,546.24 15,241.24 15,639.57
6,454.44 6,380.98 6,563.99 6,375.77
6,993.23 6,574.11
7,939.42 8,621.83 8,858.30 9,136.96 8,548.60 8,473.43 8,645.58
1,900.41 2,061.22 2,246.02 2,714.06
3,081.27 3,942.45
4,493.37 4,419.50 4,552.43 5,588.23 5,781.79 5,536.47 5,754.38
1,549.16 1,706.40 1,608.89 1,473.75
1,387.70 1,366.61
1,253.33 1,200.67 1,200.30 1,196.05 1,215.85 1,231.34 1,239.62
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
12,708.96 12,583.84 12,761.69 12,582.60 12,204.39 12,223.36 13,045.86 12,425.22 12,289.46 12,732.58 12,576.16 12,522.16 12,344.75
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3,523.64 3,398.53 3,176.37 2,997.28
2,819.07 2,838.04
2,746.21 2,380.47 2,059.38 2,300.67 2,249.06 2,227.11 2,049.71
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4,861.35 4,861.35 5,261.37 5,261.37
5,061.37 5,061.37
5,061.37 4,909.00 5,159.33 5,159.33 5,262.70 5,230.64 5,230.64
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
367.49
367.49
367.49
367.49
367.49
367.49
1,281.81 1,281.81 1,281.81 1,281.81 1,073.63 1,073.63 1,073.63
202.53
202.53
202.53
202.53
202.53
202.53
202.53
100.00
35.00
35.00
35.00
35.00
35.00
2,790.20 2,790.20 2,790.20 2,790.20
2,790.20 2,790.20
2,790.20 2,790.20 2,790.20 2,992.03 2,992.03 2,992.03 2,992.03
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
201.72
201.72
201.72
201.72
201.72
201.72
201.72
201.72
201.72
201.72
201.72
201.72
201.72
80.02
80.02
80.02
80.02
80.02
80.02
80.02
80.02
80.02
80.02
80.02
80.02
80.02
682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00 682.00
National Pension Regulatory Authority (NPRA) Stocks 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
F. Long-Term Instruments
7,888.87 7,888.87 7,888.87 7,888.87 7,888.87 7,888.87 7,888.87 7,888.87 7,888.87 7,888.87 7,888.87 7,888.87 7,888.87
Long-Term Government Stocks
7,417.37 7,417.37 7,417.37 7,417.37
7,417.37 7,417.37
7,417.37 7,417.37 7,417.37 7,417.37 7,417.37 7,417.37 7,417.37
Telekom Malasia Stock
109.46
109.46
109.46
109.46
109.46
109.46
109.46
109.46
109.46
109.46
109.46
109.46
109.46
Revaluation Stock
361.06 361.06 361.06 361.06 361.06 361.06 361.06 361.06 361.06 361.06 361.06 361.06 361.06
Other Government Stocks
0.98
0.98
0.98
0.98
0.98
0.98
0.98
0.98
0.98
0.98
0.98
0.98
0.98
TOTAL(D+E+F)
30,501.84 30,621.31 31,069.47 31,035.06 31,555.47 31,995.40 34,620.86 34,556.09 34,789.37 36,542.70 36,011.27 35,652.27 35,873.20
A. Banking system
Bank of Ghana
Deposit Money Banks (DMBs)
B. Non-Bank Sector
SSNIT
Insurance Companies
NPRA
Other Holders
C. Foreign sector (Non-Residents)
TOTAL(A+B+C)
STRUCTURE
D. Short-Term Instruments
91-Day Treasury Bill
182-Day Treasury Bill
1-Year Treasury Note
Short-Term Advance
E. Medium-Term Instruments
2-Year Floating Treasury Note
2-Year Fixed Treasury Note
3-Year GGILBS
3-Year Floating Treasury Note
3-Year Fixed Treasury Note
3-Year Stock (SBG)
3-Year Stock (SSNIT)
3-Year Floating Treasury Note (SADA-UBA)
5-Year GOG Bond
5-Year Golden Jubilee Bond
7-Year GOG Bond
GOG Petroleum Finance Bond
TOR Bonds
HOLDERS
Table 17. Holders and Structure of Domestic Debt: (Millions of Ghana Cedis)
27
1,504.14
Others
J.
Encumbered accounts (Collaterised L/Cs and Pledged Assets)
* Revised
**Provisional Data
SPECIAL USD EUROBOND (1028331511051)
M. Ghana Petroleum & Stabilisation Fund
L.
K. Net Payment agreements
SDR Allocation
I.
443.21
575.88
2.15
1,266.41
511.23
0.47
606.24
IMF:
H. Other Foreign Liabilities to Int. Institutions
2,110.38
Short-Term
G.
515.53
575.87
2.13
1,210.76
505.82
0.46
1,475.71
599.84
2,075.55
3,792.59
66.68
67.09
66.68
2,556.48
325.21
285.08
3,166.77
4,324.85
3,233.45
1,666.63
1,229.62
3,888.49
2015**
592.07
575.87
2.06
1,376.29
489.74
0.45
1,442.07
577.07
2,019.14
3,885.62
65.42
65.42
2,330.39
311.18
313.11
2,954.68
4,188.04
3,020.10
1,510.96
1,088.70
595.35
575.97
2.23
1,856.69
526.33
0.49
1,569.06
646.91
2,215.97
4,599.48
64.14
64.14
3,770.42
334.43
338.89
4,443.74
5,679.20
4,507.88
2,803.24
2,343.28
482.15
575.97
2.20
1,855.63
527.03
0.48
1,177.10
643.01
1,820.11
4,203.25
63.26
63.26
4,041.97
330.94
338.89
4,711.80
5,833.18
4,775.06
3,467.18
3,005.61
482.35
575.98
2.16
1,896.10
518.15
0.50
1,066.16
643.01
1,709.17
4,123.92
62.29
62.29
4,111.30
325.34
338.89
4,775.53
5,896.15
4,837.82
3,641.84
3,188.14
535.56
575.98
2.14
1,635.79
512.68
0.50
1,020.94
643.01
1,663.95
3,812.92
61.52
61.52
3,629.74
321.91
336.30
4,287.95
5,461.01
4,349.47
3,199.48
2,750.46
535.72
575.97
2.07
1,602.37
498.58
0.49
885.83
622.05
1,507.88
3,609.32
59.83
59.83
3,110.52
292.38
336.30
3,739.20
4,910.72
3,799.03
2,806.80
2,370.12
536.28
575.99
2.11
1,188.01
500.44
0.50
792.71
622.04
1,414.75
3,103.70
60.96
60.96
2,871.49
293.45
336.30
3,501.24
4,674.47
3,562.20
2,661.98
2,224.61
286.20
336.30
284.65
336.30
280.72
336.30
66.46
66.46
65.76
65.76
67.64
67.64
767.75
766.42
756.35
537.15
500.98
2.03
1,035.97
490.55
0.49
483.46
500.99
2.12
995.68
494.37
0.49
484.04
501.00
2.09
951.74
491.74
0.60
484.14
832.34
2.16
869.32
497.77
0.58
1,354.23 1,334.89 1,332.52 1,637.88
658.63
2,012.86 2,102.64 2,098.94 2,394.23
3,539.87 3,593.18 3,543.02 3,761.90
63.99
63.99
3,239.33 3,161.51 2,849.30 2,538.56
287.65
336.30
3,863.28 3,784.01 3,470.25 3,155.58
4,965.40 4,834.92 4,521.05 4,539.70
3,927.27 3,850.47 3,536.01 3,223.22
2,350.91 2,181.87 1,871.71 1,593.11
1,926.38 1,756.08 1,447.82 1,165.14
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
67.09
Foreign Liabilities
Investment in ADB/ AFREXIMBANK
Investment in GIB
Other Foreign Assets
Long-Term Assets
F.
E.
2,787.47
328.68
Holdings of SDRs
Others
287.06
Gold
3,403.21
3,470.30
D. Short-Term Assets
Gross Reserves (excl Oil Funds,Encumbered Assets)
C.
1,868.24
4,489.39
Net International Reserves
B.
1,426.25
Jun
C1. Gross Foreign Assets
Net Foreign Assets
A.
2014*
Table 18. International Reserves of Bank of Ghana: (Millions of US Dollars)
28
-978.82
Oil & Gas***
Debit
640.30
-966.12
103.20
-378.36
0.00
132.20
0.00
Holdings of SDR
Other Reserve Changes

Exceptional Financing
132.20
E. Reserves and Related Items

0.00
-132.20
Overall Balance
132.20
-90.67
Other investments
D. Net Errors and Omissions
IMF Position (net)
501.39
Direct investments
Changes in International Reserves
19.63
549.72
Capital Transfers
545.55
0.00
0.00
0.00
545.55
545.55
-545.55
340.97
-764.80
904.91
27.86
167.97
16.04
7.51
1,070.74
541.11
Official (net)
* Revised
**Provisional Data
*** Gas imports from Q1 2011
-43.82
-892.22
-3,622.84
429.41
C. Financial and Capital Account
Private (net)
2,468.09
3,885.07
165.76
4,965.71
2,267.29
13,751.92
-3,848.32
558.07
953.73
30.85
1,162.87
877.92
3,583.45
-215.20
630.14
1,069.91
50.22
1,065.26
688.98
3,504.50
-36.85
-957.44
524.64
902.09
51.48
1,141.18
354.79
2,974.20
-459.47
-864.34
592.96
799.25
52.50
1,018.75
691.18
3,154.64
-671.89
2,305.82
3,724.98
185.05
4,388.06
2,612.88
13,216.79
-1,383.41
-820.68 -3,694.47
586.33
445.13
47.80
817.73
992.62
2,889.60
-466.29
-548.40
613.58
651.11
50.05
835.72
553.49
2,703.95
-575.93
-422.55
-797.70
-739.29
-3,578.68
-221.24
-940.11
-3,588.61
-1,855.72
-3,550.45
-14,049.79
-836.81
-986.31
-2,812.34
-920.59
-823.45
-2,717.91
-404.87
-892.75
-2,540.92
-148.79
-991.45
-2,835.08
-2,311.06
-3,693.95
-10,906.25
72.11
-461.81
-2,894.08
273.81
-580.59
-2,699.30
700.06
-1,493.61
619.02
-968.41
2,454.04
-4,897.81
364.69
-1,225.67
413.11
-1,256.33
640.52
-1,166.84
626.45
-998.05
2,044.77
-4,646.90
1,290.74
-1,406.96
1,598.18
-1,826.13
50.00
-513.28
45.00
-403.10
284.53
-1,635.92
30.87
-501.50
32.00
-548.19
21.06
-329.10
26.82
-449.37
110.76
-1,828.15
79.80
-465.75
165.57
-361.46
991.96
0.00
0.00
0.00
991.96
991.96
-991.96
-360.93
502.30
899.80
150.88
1,552.98
0.00
459.13
-503.79
0.00
0.00
0.00
-503.79
-503.79
503.79
-719.42
1,553.69
871.90
150.88
2,576.47
56.74
429.50
1,165.92
0.00
0.00
0.00
1,165.92
1,165.92
-1,165.92
-830.05
1,792.58
3,226.33
349.25
5,368.16
80.29
1,859.15
894.90
0.00
0.00
0.00
894.90
894.90
-894.90
-342.29
-488.10
987.50
0.00
499.40
1.00
493.80
522.40
0.00
0.00
0.00
522.40
522.40
-522.40
342.44
-736.89
829.49
0.00
92.60
0.00
438.83
-935.00
0.00
0.00
0.00
-935.00
-935.00
935.00
338.64
839.45
621.25
0.00
1,460.70
8.57
420.92
-397.08
0.00
0.00
0.00
-397.08
-397.08
397.08
-482.34
781.35
918.75
0.00
1,700.10
0.00
645.36
85.22
0.00
0.00
0.00
85.22
85.22
-85.22
-143.55
395.81
3,356.99
0.00
3,752.80
9.57
1,998.90
849.40
0.00
0.00
0.00
849.40
849.40
-849.40
-69.27
-773.20
467.50
73.97
-231.73
0.00
574.30
757.80
0.00
0.00
0.00
757.80
757.80
-757.80
-72.62
-1,092.61
815.87
14.10
-262.63
97.66
600.00
436.92 557.15 459.13 486.24 1,939.44 494.80 438.83 429.49 645.36 2,008.47 574.30 697.66
86.33
-341.19
Credit
Transfers (net)
647.94
907.80
41.81
1,256.84
542.32
3,396.71
-1,132.02
-254.86 -275.16 -463.28 -358.10 -1,351.39 -470.62 -516.19 -308.04 -422.55 -1,717.40 -385.96 -195.88
494.66
-1,469.66
Debit
Income (net)
617.00
972.04
42.06
1,010.98
289.58
2,931.67
-1,386.31
-975.00 -325.82 -793.55 -349.39 -2,443.76 -860.98 -843.23 -526.32 -371.60 -2,602.13 -116.23 -227.96
Credit
Services (net)
-792.94
-3,259.66
Non-oil
B. Balance on Services, Income and Transfers
660.80
896.55
42.53
1,235.83
668.67
3,504.39
-1,010.67
-4,238.48 -4,515.06 -4,317.97 -4,528.73 -17,600.24 -3,798.65 -3,541.35 -3,433.67 -3,826.53 -14,600.20 -3,355.89 -3,279.88
542.35
Other Exports
Imports (f.o.b)
1,108.68
39.36
1,462.05
Crude Oil
Timber & Timber Products
Gold
766.71
3,919.15
Exports (f.o.b)
Cocoa beans & Products
-319.33
-1,112.27 -1,054.49 -2,184.01 -1,353.26 -5,704.03 -1,052.01
Merchandise Trade Balance
A. Current Account

2013
2014*
2015**
Q1 Q2 Q3 Q4
Annual
Q1 Q2 Q3 Q4
Annual Q1 Q2
Table 19. Balance of Payments: (Millions of US Dollars)
29
257.9
238.2
797.9
179.1
109.7
74.9
363.6
851.8
2,540.9
971.3
2,835.1
10,906.3
1,019.6
966.3
908.2
2,894.1
972.0
861.0
866.3
2,699.3
* Revised
**Provisional Data
-215.2 59.6 -36.9 -167.7 -459.5 -152.5 -671.9 -1,383.4 -121.3 -127.8 -217.2 -466.3 -158.5 -233.2 -184.6 -576.3
2,717.9
Trade Balance
908.6
986.3 256.3 823.5 327.4 892.7 268.6 991.5 3,694.0 150.8 134.2 176.7 461.8 196.2 203.4 180.9 580.6
2,812.3
Oil & Gas**
Non-Oil
3,798.7 1,165.0 3,541.4 1,179.2 3,433.7 1,239.9 3,826.5 14,600.2 1,170.4 1,100.5 1,084.9 3,355.9 1,168.2 1,064.4 1,047.3 3,279.9
301.8
Merchandise Imports (f.o.b)
2,079.7
732.3 275.2 813.2 261.1 700.6 255.7 593.0 2,839.0 239.4 265.5 276.1 781.1 264.3 288.9 250.2 803.4
691.2
Other Exports /1
298.4
953.7 434.0
1,069.9 289.0 902.1 167.7 799.2 3,725.0 146.0 150.5 148.7 445.1 242.2 181.1 227.9 651.1
178.9
Crude oil
44.8
30.9 16.8 50.2 18.4 51.5 19.3 52.5 185.0 14.8 15.3 17.7 47.8 17.4 15.3 17.0 49.6
506.0
Timber Products
152.3
1,162.9 346.2
1,065.3 398.2
1,141.2 346.3 1,018.8 4,388.1 347.2 283.5 187.1 817.7 306.8 236.2 292.7 835.7
703.7
3,583.4 1,224.6 3,504.5 1,011.5 2,974.2 1,087.4 3,154.6 13,216.8 1,049.2 972.7 867.7 2,889.6 1,009.8 831.2 862.6 2,703.5
Q1 Jun Q2 Sep Q3 Dec Q4

Annual Jan Feb Mar Q1 Apr
May Jun Q2
Gold
Cocoa Beans
Merchandise Exports (f.o.b.)

2014* 2015**
Table 20. Merchandise Trade Flows: (Millions of US Dollars)
30
176,001 406,058 74,697 369,497 113,390 391,168 187,696 747,280 1,914,003 141,666 75,316 111,717 328,698 179,853 193,291 165,781
538,925
18,506 65,437 18,543 55,190 20,061 56,650 22,917 60,287 237,563 20,762 17,797 13,484 52,044 13,782 19,472 13,135 46,389
Gas oil (MT)
LPG (MT)
1,471,483 4,971,392 2,041,079 5,792,250 1,797,959 5,397,336 1,834,598 6,380,025 22,541,002 1,626,880 1,430,117 1,669,979 4,726,976 1,732,725 1,442,176 1,228,384
4,403,285
33.88 137.43 82.32 170.66 47.00 137.79 27.57 79.33 525.21 23.86 27.15 17.94 68.95 21.26 10.41 22.68
54.35
* Revised
**Provisional Data
Source: Tema Oil Refinery and Volta River Authority
Total
Crude oil Imports ( f. o. b.) by Importer, Value in US$ million

2014* 2015**

Mar Q1 Jun Q2
Sep Q3 Dec Q4
Annual Jan Feb Mar Q1
Apr
May Jun Q2
TOR
0.00 0.00 0.72 0.72 0.00 5.97 27.57 27.57 34.26 23.86 0.00 0.00 23.86 0.00 0.00 0.00 0.00
VRA
33.88 137.43 81.59 164.97 47.00 129.00 0.00 49.79 481.19 0.00 27.15 0.00 27.15 20.35 8.46 21.91 50.72
PLATON
- - 0.00 4.97 0.00 2.82 0.00 1.96 9.76 0.00 0.00 1.50 1.50 0.91 1.95 0.77
3.63
CENIT
- - - - - - - - - - -
16.45
16.45
0.00
0.00
0.00
0.00
Source: Tema Oil Refinery, National Petroleum Authority and Volta River Authority
Petroleum Imports (c.i.f.) by Value in US$ million

2014* 2015**

Mar Q1 Jun Q2
Sep Q3 Dec Q4
Apr
May Jun Q2
Crude Oil
34.70 140.73 84.29 174.75 48.13 141.10 28.23 81.23 537.81 24.43 27.80 18.37 70.61 21.77 10.66 23.23
55.66
Premium
102.35 383.07 77.31 233.36
157.00 328.64 90.46 260.62 1205.70 38.10 53.05 76.00 167.15 62.22 62.17 62.33
186.72
Gas Oil

166.09
382.37
69.28
341.60
99.18
352.18
127.86
582.38
1658.53
69.41
36.66
64.60
170.67
94.76
113.55
98.54
306.85
LPG 15.78 60.51 13.93 43.23 15.28 45.32 12.61 35.95 185.01 6.63 6.56 6.41 19.61 6.02 8.35 5.34
19.71
Aviation Fuel - - - - - - - - - - - - - - - -
Gas (West Africa) 12.81 43.31 17.65 50.27 15.67 46.92 15.89 55.06 195.56 15.87 13.38 15.60 44.86 16.19 13.55 13.35
43.09
Total

331.73 1,009.98
262.46
843.21
319.60
914.17
259.15 1,015.25
3,782.61
154.45
137.46
180.99
472.89
200.96
208.29
202.78 612.03
- No importation for the period

Source: Tema Oil Refinery, National Petroleum Authority and Volta River Authority (VRA)
Gas (MMBTu)
- - - - - - - - - - - - - - - - -
102,202 391,839 74,884 228,270 160,525 322,090 128,693 319,446 1,261,645 71,208 102,975 124,119 298,302 101,201 92,216 88,706
282,123
Premium (MT)
Aviation Fuel (MT)
288,069 1,173,165 706,185 1,470,666 450,000 1,254,498 349,722 974,275 4,872,603 450,408 500,190 327,169
1,277,767 314,669 149,996 332,968
797,633
Crude oil (bbl)
Petroleum Imports by Volume

2014* 2015**

Mar Q1 Jun Q2
Sep Q3 Dec Q4
Apr
May Jun Q2
Source: Tema Oil Refinery, National Petroleum Authority and Volta River Authority
in million US$

2014* 2015**

Mar Q1 Jun Q2
Sep Q3 Dec Q4
Apr
May Jun Q2
Crude Oil 33.88 137.43 82.32 170.66 47.00 137.79 27.57 79.33 525.21 23.86 27.15 17.94 68.96 21.26 10.41 22.68 54.35
Premium 99.95 374.09 75.50 227.89 153.33 320.94 88.34 254.52 1,177.44 37.20 51.81 74.22 163.23 60.77 60.71 60.87
182.35
Gas Oil 162.20 373.41 67.66 333.59 96.86 343.93 124.86 568.73 1,619.66 67.78 35.80 63.08 166.66 92.54 110.89 96.23 299.66
LPG 15.41 59.09 13.60 42.22 14.92 44.26 12.31 35.11 180.68 6.48 6.41 6.26 19.15 5.88 8.16 5.21 19.25
Aviation Fuel - - - - - - - - - - - - - - - - Gas (West Africa) 12.51 42.29 17.24 49.09 15.31 45.82 15.52 53.77 190.98 15.50 13.07 15.24 43.81 15.81 13.23 13.04 42.08
Total 323.96 944.02 239.08 823.45 327.41 892.75 268.60 991.46 3,693.96 150.82 134.24 176.74 418.00 196.25 203.41 184.99 597.69
Petroleum Imports (f.o.b) by Value
Table 21. Crude Oil and Petroleum Products Imports
31
32

Table 22. Ghana: Value, Volume and Unit Price of Exports
(In millions of US dollars, unless otherwise specified)

2013*
2014*
2015**
Q1 Q2 Q3 Q4
Annual Q1 Q2 Q3 Q4
Annual Q1 Q2
Gold
Value
1,462.05
1,235.83 1,010.98 1,256.84
Volume (fine ounces)
900,356
868,956
Unit Value (US dollars per ounce)
1,623.86
1,422.21 1,323.56 1,273.51
763,836
4,965.71 1,162.88 1,065.26
1,141.18
1,018.75
4,388.07
817.73
835.72
826,720
890,629
847,270
3,466,361
666,761
698,016
5,643.14 1,289.59 1,288.54
1,281.32
1,202.39
5,061.84
1,226.41
1,197.28
178.86
460.29
1,848.85
797.87
363.62
986,913 3,520,061
901,741
Cocoa Beans
Value
620.94
495.98
125.20
369.94
1,612.06
703.74
Volume (metric tons)
253,983
196,180
50,341
153,908
654,412
294,070
Unit Value (US dollars per ton)
2,444.80
2,528.18 2,487.10 2,403.63
505.96
204,944 68,275.00 165,125.00 732,414.00 271,850.26 118,123.00
9,863.71 2,393.11 2,468.76
2,619.66
2,787.52
10,269.05
2,934.96
3,078.27
175.94
230.89
764.03
194.75
189.87
59,865.38 221,439.43 56,411.86
55,738.65
Cocoa products
Value
145.78
49,510
2,944.39
172.70
164.37
172.38
655.23
174.18
183.02
52,725
49,304
54,147
205,686
56,557
54,661 50,356.05
3,275.42 3,333.89 3,183.64 12,737.34 3,079.79 3,348.22
3,493.87
3,856.84
13,778.72
3,452.23
3,406.49
902.09
799.25
3,724.96
445.13
651.11
Crude Oil Exports

Value
Volume (barrels)
Unit value (US dollars per barrel)
1,108.68
896.55
972.04
907.80
3,885.07
953.70 1,069.93
9,941,523 8,812,157 8,827,903 8,466,707 36,048,290 8,751,112 9,719,545 8,800,583 10,711,741 37,982,981 8,712,647 10,537,719
111.52
101.74
110.11
107.22
430.59
108.98
110.08
102.50
74.61
50.22
51.48
396.18
51.09
61.79
Timber and Timber Products

Value
39.36
42.53
42.06
41.81
165.76
30.85
52.50
185.05
47.80
50.05
Volume (cubic meters)
64,166
73,198
69,239
68,464
275,067
54,911
88,631 101,991.00 103,758.72
349,292
80,419
91,755
Unit Value (US dollars per cubic meter)
613.39
581.08
607.50
610.65
2,412.62
561.87
566.60
2,139.19
594.35
545.43
Value
6.98
21.44
13.15
11.83
53.40
14.31
8.97
8.53
15.32
47.14
20.75
11.99
3,255
9,638
6,302
6,302
25,497
7,567
6,613
3,900.00
6,048.00
24,128.00
8,283.74
9,152.27
8,332.71 1,891.52 1,356.67
2,187.92
2,532.97
7,969.08
2,504.64
1,310.41
504.75
505.97
Aluminium
2,144.36
2,224.65 2,086.57 1,877.13
Residual oil
Value
27.87
32.59
33.31
408,803
478,910
495,492
68.18
68.04
67.23
39.92
21.42
30.19
22.20
9.06
82.86
15.42
13.99
591,633 1,974,838.00 322,231
447,603
330,961
133,447
1,234,242
227,134
211,471
67.44
67.07
67.91
268.88
67.88
66.14
67.48
133.69
270.93
66.46
Manganese
Value
12.00
11.08
12.09
13.82
48.99
15.85
12.29
13.73
13.88
55.74
12.49
13.28
120.04
112.34
141.82
148.13
522.33
130.92
112.68
125.86
127.04
496.50
133.01
141.06
0.10
0.10
0.09
0.09
0.38
0.12
0.11
0.11
0.11
0.45
0.09
0.09

Electricity
Value
12.00
11.08
12.09
13.82
48.99
15.85
12.29
13.73
13.88
55.74
12.49
13.28
Volume (millions of kilowatt-hours)
120.04
112.34
141.82
148.13
522.33
130.92
112.68
125.86
127.04
496.50
133.01
141.06
Unit Value (US$ 000/kilowatt-hour)
0.10
0.10
0.09
0.09
0.38
0.12
0.11
0.11
0.11
0.45
0.09
0.09
Value
1.25
1.46
1.49
1.56
5.76
3.32
2.80
1.74
1.24
9.10
1.00
1.83
Volume (carats)
24,245
28,494
32,427
37,457
122,623
30,266.58 203,606.33 27,433.58
48,067.27
51.71
51.31
45.88
41.54
190.44
Diamond
Unit Value (US dollars per carat)
70,732 64,226.00 38,381.75

46.87
43.67
45.28
41.05
176.87
36.36
38.03
9.85
9.28
6.39
36.26
8.24
10.32
246,182 231,953.00 159,701.00
906,433
206,001
257,963
Bauxite
Value
6.75
4.83
12.41
8.57
32.56
10.74
172,066
120,712
310,325
214,310
817,413
268,597
39.21
40.00
40.00
40.00
159.21
40.00
40.01
40.00
40.00
160.01
40.00
40.00
487.49
589.41
544.55
572.23
2,193.68
492.44
566.04
469.17
547.07
2,074.72
528.43
562.17

Other Non-traditional Exports
Value
* Revised
** Provisional
Table 23. Commodity Prices

COCOA LIFFE
GOLD US$/fine DIAMOND
BAUXITE
MANGANESE CRUDE OIL

()/tonne
oz
US$/carats
US$/tonne
US$/tonne
US$/barrel
2011
Jan
2,046.00
1,359.46
40.71
30.00
65.24
96.82
Feb
2,228.15
1,372.35
45.67
30.00
65.68
104.09
Mar
2,161.61
1,422.50
59.54
30.00
66.31
114.62
Apr
1,934.85
1,481.10
58.12
30.00
66.05
123.13
May
1,878.48
1,515.22
63.00
30.00
67.36
114.53
Jun
1,858.55
1,528.25
64.11
30.00
65.84
113.91
Jul
1,954.67
1,575.15
64.21
30.00
66.38
116.68
Aug
1,888.43
1,770.13
71.41
30.00
65.33
109.82
Sep
1,823.52
1,768.96
51.18
30.00
65.72
109.96
Oct
1,700.86
1,673.66
52.28
30.00
65.72
108.80
Nov
1,590.23
1,744.69
45.27
30.00
66.20
110.61
Dec
1,406.00
1,658.49
48.48
30.00
n.a
107.72
2012
Jan
1,492.00
1,632.18
54.84
32.00
66.14
111.55
Feb
1,501.00
1,730.50
59.73
32.00
65.04
126.96
Mar
1,502.00
1,671.28
57.09
31.78
65.90
124.55
Apr
1,456.00
1,649.90
62.11
31.78
66.15
125.90
May
1,499.05
1,579.24
56.77
32.00
67.82
109.36
Jun
1,517.00
1,602.91
59.55
37.00
67.95
95.89
Jul
1,562.73
1,590.96
56.14
31.90
64.06
102.77
Aug
1,638.65
1,631.05
46.32
35.40
68.02
113.19
Sep
1,659.10
1,746.89
42.27
38.84
60.36
113.04
Oct
1,557.39
1,744.96
45.91
37.00
61.28
111.52
Nov
1,569.32
1,721.17
49.55
38.00
64.83
109.53
Dec
1,508.05
1,678.82
70.81
39.00
68.34
109.19
2013
Jan
1,446.83
1,670.62
45.95
38.52
68.16
112.28
Feb
1,429.05
1,626.62
70.56
39.50
68.59
116.11
Mar
1,435.80
1,593.51
48.24
40.00
67.77
109.53
Apr
1,511.68
1,491.05
49.50
40.00
68.34
103.31
May
1,542.91
1,415.81
54.29
40.00
68.21
103.32
Jun
1,489.85
1,342.14
48.15
40.00
67.62
103.30
Jul
1,550.13
1,293.66
43.82
40.00
67.75
107.37
Aug
1,633.37
1,354.88
46.79
40.00
68.09
110.25
Sep
1,685.14
1,351.46
41.08
40.00
64.69
111.21
Oct
1,730.39
1,320.13
43.56
40.00
66.76
109.45
Nov
1,733.58
1,277.45
42.07
40.00
67.92
107.77
Dec
1,757.95
1,228.35
42.44
40.00
67.92
110.60
2014*
Jan
1,744.59
1,247.60
38.80
40.00
62.81
107.32
Feb
1,849.80
1,310.01
49.56
40.00
67.68
108.80
Mar
1,866.81
1,340.13
49.51
40.00
67.66
107.68
Apr
1,866.38
1,301.69
41.38
40.00
68.40
108.10
May
1,846.68
1,291.17
40.99
40.00
67.12
109.20
Jun
1,938.43
1,283.32
49.13
40.00
66.72
111.97
Jul
1,932.09
1,311.62
45.99
40.00
66.98
108.21
Aug
2,017.62
1,295.54
46.85
40.00
67.20
103.48
Sep
2,026.59
1,237.68
42.67
40.00
na
98.56
Oct
1,980.43
1,227.21
43.31
40.00
na
88.07
Nov
1,885.20
1,178.97
40.97
40.00
67.44
79.40
Dec
1,946.77
1,205.28
39.15
40.00
68.40
62.36
2015*
Jan
1,961.00
1,254.23
53.41
40.00
na
49.72
Feb
1,973.00
1,233.41
38.73
40.00
67.97
58.70
Mar
2,004.00
1,186.56
35.77
40.00
67.44
57.01
Apr
1,959.90
1,194.68
37.03
40.00
67.68
60.90
May
2,060.90
1,202.31
40.47
40.00
65.76
65.62
Jun
2,130.00
1,182.90
40.47
40.00
65.76
63.75
*Provisional
Source: Reuters & The Mining Companies
LIFFE =London International Futures and Funds Exchange.
n.a = Data not available
33
Q1
Q2
Q3
Q4
Annual
Q1
Q2
Q3
Q4
Annual
Q1
Q2
Q1
2015*
Q2
Q3
Q4
Annual
Q1
Q2
Q3
Q4 Annual
2013 2014
Q1
Q2
2015*
1.1
3.7
0.1
7.0
2.5
1.5
5.2
Germany
Italy
Japan
Netherlands
United Kingdom
United States
Others
0.8
4.2
4.3
1.3
6.2
1.1
2.8
3.2
5.0
6.6
0.7
6.2 15.5
0.8
6.1 10.6
3.7
1.0
2.2
7.3
0.3
4.9
1.2
5.3
4.0
2.5
2.8
6.8
0.6
7.6
1.0
7.8
8.3
1.4
2.2
7.5
0.3
7.3
1.8
5.1
9.4
1.6
3.2
4.9
0.8
4.0
0.6
5.0
5.1
2.7
1.9
4.9
0.5
3.2
0.7
7.3
7.6
1.4
3.2
6.5
0.9
6.4
2.3
7.4
9.8 9.7 8.8 9.8 12.3 9.1
Source: IMF- Direction of Trade Statistics, (various issues) & Bank of Ghana estimates
* Provisional
o/w China 4.0 1.6

2.5 5.5 3.4 1.4 5.2
10.6 9.1 6.6 7.0 8.7 14.5 12.5 14.3 13.2 13.6 14.1 13.5 15.2 15.2 14.5 15.2 14.1
Rest of the world 54.5 57.4

41.6 56.5 52.5 50.7 59.5
62.3 48.1 55.2 39.4 38.0 41.6 43.4 44.2 45.9 43.8 44.6 43.0 42.4 45.6 43.9 48.2 49.4
9.8 8.9 7.9 8.7 8.8 10.9
7.6 17.3 27.2 17.1 17.0 16.6 16.4 16.8 15.1 14.9 19.2 15.8 16.2 15.0 15.3
1.8 2.8 3.2 8.0 9.0 6.9 7.0 7.8 5.7 8.0 6.3 7.1 6.8 9.7 7.9
2.6 1.9 1.5 3.8 3.3 4.5 3.8 3.8 3.7 3.8 3.3 3.3 3.5 2.7 4.0
5.9 8.7 5.9 11.9 10.7 10.6 10.0 10.8 11.6 12.0 11.8 12.4 11.9 6.5 6.9
0.6 1.0 0.7 1.4 0.9 0.9 1.2 1.1 0.9 1.2 0.9 1.1 1.0 0.8 1.3
5.2 6.6 0.9 2.0 2.2 2.5 2.4 2.3 2.8 2.9 1.2 1.3 2.1 1.2 1.9
1.4 1.8 1.0 2.7 2.8 3.3 2.6 2.8 2.4 2.9 3.1 3.0 2.8 2.3 2.4
6.2 2.4 5.6 1.6 1.8 2.3 2.0 1.9 2.3 1.6 2.0 1.6 1.9 1.3 1.8
Other Europeans 15.2 12.4

13.0 17.5 14.5 15.2 11.0
11.4 16.2 13.5 18.3 15.9
9.2
France
Industrial Countries 30.3 30.2

45.4 26.0 33.0 34.0 29.5
26.3 35.7 31.4 42.4 46.0 48.6 47.7 47.8 45.3 47.4 44.5 47.2 47.9 45.6 46.3 39.6 41.5
Trade
Partners

2013 2014

Exports
Imports
(In per cent of total)

Table 24. Ghana: Direction of Trade
34
35
Table 25. Foreign Exchange Rates (GH per Currency): End Period

Interbank Market

2011
2012
2013
2014
2015
Forex Bureaux Market
US Dollar Pound Sterling
EURO
Japanese Yen
Swiss Franc
US Dollar Pound Sterling
EURO
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1.5013
1.4937
1.5021
1.4972
1.5018
1.5064
1.5055
1.5104
1.5224
1.5326
1.5412
1.5505
2.3571
2.4197
2.4338
2.4874
2.4401
2.4166
2.4528
2.4757
2.4308
2.5020
2.5078
2.4946
2.0402
2.0643
2.1625
2.2180
2.1506
2.1523
2.1547
2.1829
2.1266
2.1949
2.1851
2.1076
0.0180
0.0185
0.0183
0.0186
0.0185
0.0188
0.0194
0.0197
0.0200
0.0198
0.2010
0.0205
1.5695
1.6263
1.6584
1.7438
1.7703
1.8082
1.8817
1.8604
1.7005
1.7890
1.6987
1.6838
1.5052
1.5141
1.5277
1.5286
1.5195
1.5173
1.5146
1.5235
1.5789
1.6030
1.6355
1.6596
2.3491
2.3482
2.4341
2.4387
2.4396
2.4341
2.4309
2.4505
2.4691
2.4223
2.5323
2.5473
2.0073
2.0209
2.1128
2.1319
2.1291
2.1400
2.1241
2.1387
2.1469
2.2112
2.1900
2.1591
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1.6475
1.6735
1.6888
1.7030
1.8103
1.8735
1.8843
1.8907
1.8887
1.8789
1.8772
1.8800
2.6233
2.6764
2.2600
2.3372
2.3938
2.3919
2.3833
3.0450
3.0411
3.0313
2.9989
3.0574
2.1781
2.2736
2.3025
2.3916
2.3814
2.4121
2.3756
2.4191
2.4501
2.4265
2.4467
2.4769
0.0218
0.0207
0.0211
0.0224
0.0238
0.0239
0.0246
0.0245
0.0246
0.0236
0.0229
0.0219
1.8196
1.8568
1.9192
1.9805
1.9277
1.9914
1.9665
2.0052
2.0312
2.0159
2.0387
2.0585
1.6957
1.7003
1.7666
1.8600
1.9323
1.9491
2.0435
2.0318
1.9900
1.9437
1.9309
1.9628
2.6509
2.6778
2.7882
2.9632
3.0168
3.0327
3.1446
3.1705
3.1773
3.0546
3.0555
3.1060
2.2077
2.2419
2.3423
2.4473
2.4468
2.4473
2.4714
2.4914
2.5423
2.5127
2.4691
2.5550
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1.8840
1.8864
1.9010
1.9126
1.9408
1.9469
1.9494
1.9559
1.9608
2.0291
2.0822
2.2000
3.0237
2.9065
2.9229
3.0208
2.9780
3.0919
3.1089
3.2290
3.3958
3.3890
3.5196
3.6715
2.5646
2.5108
2.4760
2.5235
2.5691
2.6506
2.7228
2.8452
2.8829
2.9688
2.9715
3.0982
0.0209
0.0207
0.0205
0.0201
0.0195
0.0202
0.0203
0.0203
0.0203
0.0206
0.0204
0.0206
2.0853
2.0560
2.0336
2.1002
2.0660
2.1007
2.1431
2.1430
2.2091
2.2595
2.2971
2.4383
1.9358
1.9389
1.9443
1.9689
2.0014
2.0877
2.1114
2.1277
2.1637
2.2044
2.3136
2.3457
3.0777
2.9728
2.9241
3.0205
3.0350
3.1841
3.1932
3.2514
3.4109
3.4986
3.6896
3.7641
2.5627
2.5755
2.5491
2.5800
2.5996
2.7209
2.7414
2.7918
2.8755
2.9955
3.0959
3.1664
Jan
Feb
Mar
April
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2.3975
2.5232
2.6800
2.7939
2.8920
3.0016
3.0337
3.1333
3.1973
3.1955
3.1955
3.2001
3.9160
4.2197
4.4478
4.7251
4.8375
5.1080
5.1297
5.1949
5.1942
5.1175
5.0341
4.9791
3.2469
3.4676
3.6479
3.8509
3.9393
4.0934
4.0583
4.1278
4.0566
4.0303
3.9933
3.8959
0.0234
0.0247
0.0261
0.0272
0.0285
0.0296
0.0295
0.0302
0.0293
0.0296
0.0471
0.0269
2.6518
2.8415
3.0219
3.1622
3.2279
3.3684
3.3354
3.4239
3.3625
3.3430
3.3211
3.2400
2.4505
2.5727
2.6796
2.8666
3.0346
3.1955
3.6868
3.7941
3.1864
3.2028
3.2378
3.2418
4.0005
4.2459
4.3946
4.7628
5.0455
5.3346
6.1541
6.2714
5.1473
5.1028
5.0382
4.9850
3.2982
3.4932
3.6586
3.8932
4.0973
4.2932
4.8732
4.9937
4.0500
4.1450
4.0382
3.9682
Jan
Feb
Mar
Apr
May
Jun
3.2401
3.4745
3.7472
3.8493
3.9976
4.3274
4.8986
5.3560
5.5483
5.9483
6.1048
6.8208
3.6705
3.9001
4.0582
4.2917
4.3609
4.8424
0.0275
0.0292
0.0312
0.0324
0.0322
0.0354
3.5210
3.6430
3.8697
4.1039
4.2255
4.6697
3.3846
3.4887
3.7682
3.8364
4.0414
4.3741
5.0359
5.3082
5.4973
5.7537
6.1623
6.5241
3.8323
3.9418
4.0400
4.1332
4.4141
4.6023
358.79
870.91
864.52
Non-Paris Club
Export Credit Agencies
Other Concessional
704.79
687.80
686.18
686.56
678.08
674.23
611.09
611.09
605.12
567.65
576.01
917.97
885.54
337.32
537.21
1,030.38
893.46
317.82
547.65
1,123.28
1,036.38
339.26
609.46
329.17
545.66
1,475.17 1,427.66
985.91 1,008.61
329.88
548.85
1,271.02
1,072.33
297.79
611.35
1,334.77
1,099.76
487.08
643.01
1,310.40
1,135.85
463.61
647.38
1,376.68
1,209.36
449.34
708.55
458.43
682.00
449.91
609.16
426.59
632.65
1,389.46 1,896.72 1,871.51 1,857.89
1,144.02 1,154.51 1,110.28 1,110.86
457.62
668.99
* Provisional Estimate
International Capital Market 750.00 750.00 750.00 750.00 750.00 750.00 1,530.51 1,530.51 1,530.51 1,530.51 2,530.51 2,530.51 2,530.51 2,530.51
Of which:
473.75
1,364.94 1,387.93 1,394.85 1,708.40 1,751.15 1,768.08 3,182.84 3,339.19 3,418.01 3,566.52 4,474.77 4,959.14 4,944.95 4,789.01
559.38
Commercial Creditors
452.73
2,653.60 2,678.04 2,789.31 3,108.38 3,339.81 3,311.30 3,252.49 3,564.62 3,557.24 3,743.93 3,660.08 4,191.66 4,040.86 4,027.99
Paris Club
Of which:
Bilateral Creditors
IMF
480.21
3,802.72 3,638.37 3,659.00 4,336.81 4,140.50 4,263.61 4,339.01 4,557.92 4,513.63 4,566.08 4,543.77 4,900.73 4,787.14 4,735.65
Multilateral Creditors
Of which:
7,821.26 7,704.34 7,843.16 9,153.59 9,231.46 9,342.99 10,774.34 11,461.73 11,488.88 11,876.42 12,678.62 14,051.53 13,772.95 13,552.65
Total External Debt

2012
2013
2014
2015*
Stock As At End

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Table 26. Ghana: Public and Publicly Guaranteed External Debt: (Millions of US Dollars)
36
37
Table 27. Ghana: Retail Prices of Major Petroleum Products
(Ex pump price, GH per litre)
Effective Date

May 1, 2011
May 16, 2011
June 1, 2011
June 16, 2011
July 1, 2011
July 16, 2011
August 1, 2011
August 16, 2011
September 1, 2011
September 16, 2011
October 1, 2011
October 16, 2011
November 1, 2011
November 16, 2011
December 1, 2011
December 16, 2011
December 29, 2011
January 16, 2012
February 1, 2012
February 11, 2012
March 1, 2012
March 16, 2012
April 1, 2012
April 16, 2012
May 1, 2012
May 16, 2012
June 1, 2012
June 16, 2012
July 1, 2012
July 16, 2012
October 16, 2014
October 21, 2014
November 1, 2014
November 16, 2014
November 20, 2014
December 1, 2014
December 16, 2014
January 1, 2015
January 16, 2015
February 1, 2015
February 16, 2015
March 1, 2015
March 16, 2015
April 1, 2015
April 9, 2015
April 16, 2015
May 1, 2015
May 16, 2015
June 1, 2015
June 16, 2015
Premium Kerosine Gas Oil Residual Fuel

Gasoline (Diesel) Oil (RFO)
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.5207
1.7548
1.7548
1.7548
1.7080
1.7080
1.7080
1.7080
1.7080
1.7080
1.7080
1.7080
1.7080
1.7080
1.7080
3.3600
3.2900
3.2900
3.2900
3.3900
3.3900
3.3900
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.3300
3.3300
3.4700
Source: Ministry of Energy & National Petroleum Authority
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
0.9100
3.2300
3.1600
3.1600
3.1600
3.2500
3.2500
3.2500
2.8500
2.8500
2.8500
2.8500
2.9200
2.9200
2.9200
2.9200
2.9200
2.9200
3.1900
3.1900
3.3200
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.5346
1.7709
1.7709
1.7709
1.7236
1.7236
1.7236
1.7236
1.7236
1.7236
1.7236
1.7236
1.7236
1.7236
1.7236
3.2700
3.2000
3.2000
3.2000
3.3000
3.3000
3.3000
2.9700
2.9700
2.9700
2.9700
2.9700
2.9700
2.9700
2.9700
2.9700
2.9700
3.2400
3.2400
3.3700
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
0.8393
1.5700
1.5700
1.5700
1.5700
1.5700
1.5700
1.5700
1.4100
1.4100
1.4100
1.4100
1.4100
1.4100
1.4100
1.4100
1.4100
1.4100
1.4100
1.4100
1.4100
LPG
(GH/kl.)
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.0476
1.3619
1.3619
1.3619
1.2990
1.2990
1.2990
1.2990
1.2990
1.2990
1.2990
1.2990
1.2990
1.2990
1.2990
3.3200
3.2500
3.2500
3.2500
2.9400
2.9400
2.9400
2.6400
2.6000
2.6000
2.6000
2.6400
2.6400
2.6400
2.6400
2.6400
2.6400
2.8800
2.8800
3.0000
Premix
Fuel
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
0.5427
1.5700
1.5700
1.5700
1.5700
1.5700
1.5700
1.5700
1.2869
1.4100
1.4100
1.4100
1.4346
1.4100
1.4100
1.4100
1.4100
1.4100
1.5025
1.4100
1.4508
134.00
174.00
128.40
125.80
143.20
110.40
126.80
115.30
121.50
133.80
Clothing and Footwear
Housing and Utilities
Furnishings, Household Equipments, etc
Health
Transport
Communications
Recreation and Culture
Education
Hotels, Cafs and Restaurants
Miscellaneous Goods and Services
Minimum Daily Wage (GH)
15.30
1.60
134.30
121.60
115.30
126.90
110.70
160.00
125.80
128.60
183.50
134.30
127.70
15.90
-0.20
135.10
121.50
115.50
127.50
110.80
160.00
127.20
129.70
183.80
135.40
127.90
115.60
16.50
-0.20
135.30
124.20
115.50
127.80
111.00
164.30
128.40
132.50
186.30
137.70
129.30
112.20
16.90
2.70
134.20
129.10
122.50
133.60
115.70
168.80
140.70
138.20
194.90
144.60
134.20
112.20
17.00
0.90
142.40
130.40
122.50
141.50
115.70
168.80
134.20
139.90
195.60
146.30
136.20
113.20
17.00
1.00
142.40
130.40
128.30
143.40
115.70
170.10
136.90
143.00
195.90
150.30
138.60
114.10
16.40
3.40
145.69
133.29
136.43
147.30
117.44
171.14
137.28
146.39
196.97
156.51
142.20
120.53
16.50
1.20
147.87
135.30
139.16
150.77
118.52
173.55
139.49
149.46
198.59
160.93
144.15
121.13
16.60
1.00
150.85
138.55
139.47
150.96
119.77
175.16
142.97
150.52
201.71
161.10
147.13
122.08
16.80
1.80
157.00
142.50
140.02
151.90
121.32
175.92
144.77
154.49
209.16
161.84
148.93
123.90
16.90
1.00
157.64
144.65
140.72
153.77
121.73
177.07
145.48
156.35
210.59
164.24
150.00
125.29
17.10
1.80
159.49
145.55
143.66
156.59
123.64
179.67
147.00
158.44
217.10
166.53
153.22
127.11
6.00 6.00 6.00 6.00 6.00 6.00 6.00 7.00 7.00 7.00 7.00 7.00
7.00
15.00
Year-on-Year
Annual Average (%)
1.60
Monthly Change (%)
COMBINED
127.60
Alcoholic Beverages, Tobacco and Narcotics
117.10
129.00 131.00 130.70 130.50 133.90 135.10 136.40 141.15 142.81 144.30 146.93 148.39
151.02
118.40
Food and Non-Alcoholic Beverages
Overall Index

2014
2015
Table 28. National Consumer Price Index and Inflation Rates. Monthly Changes by COICOP group
(2012 Average = 100): New Base
38
39
Table 29. Gross Domestic Product at 2006 Constant Prices: (Millions of Ghana Cedis)

Rate
Rate
Rate

2010
AGRICULTURE
2011
2012 (%)
2013 (%)
Rate
Y-O-Y
Rate
Y-O-Y
2014* (%) 2015Q1** (%) 2015Q1** (%)
6,453.0 6,507.1 6,656.9 2.3 7,034.9 5.7 7,356.4 4.6 1,189.2 3.6 1,172.8 -0.1
0.8 5,204.4
5.9 5,498.6 5.7 702.0 1.8 697.9
-5.6
Crops
4,703.0
4,877.6
4,915.4
of which Cocoa
535.0
771.4
698.5
Livestock
526.0
552.3
581.2
5.2 611.9
5.3 644.2
5.3 163.4
16.5 146.3
13.4
Forestry and Logging
757.0
650.7
694.9
6.8 726.8
4.6 749.6
3.1 196.1 0.2 197.6
6.1
Fishing
467.0
426.5
465.4
9.1 491.8
5.7 464.0
-5.7 127.7 4.7 130.9
9.5
INDUSTRY
-9.5 717.0
2.6 747.8
4.3
na
na
na
na
5,053.0 7,157.1 7,947.5 11.0 8,475.5 6.6 8,551.4 0.9 2,152.3 3.4 2,607.1 15.3
Mining and Quarrying
690.0
2,115.5
2,461.8 16.4 2,747.0

11.6 2,834.4 3.2 671.3 1.5 800.7
2.9
o.w. Crude Oil
65.0
1,372.1
1,668.5 21.6 1,969.0

18.0 2,057.1 4.5
Manufacturing
1,984.0
2,320.9
2,366.3
Electricity
170.0
168.9
187.6 11.1 218.3

16.3 218.9
0.3 46.6
-7.6 46.9
-23.5
Water and Sewerage
259.0
267.0
272.9
Construction
1,949.0
2,284.7
SERVICES
na
na
na
na
2.0 2,354.6
-0.5 2,344.5
-0.4 539.8
-0.4 584.4
-1.6
2.2 268.6
-1.6 265.8
-1.0 78.7
16.0 78.1
10.6
2,658.8 16.4 2,887.0

8.6 2,887.8 0.0 795.9 7.7 1,097.0 45.1
11,714.0 12,812.9 14,360.8 12.1 15,798.1 10.0 16,680.1 5.6 4,035.6 4.7 4,527.5 5.3
1,573.0
1,745.8
1,943.6 11.3 2,224.7

14.5 2,188.7
-1.6 571.0
16.0 553.5
-5.9
Hotels and Restaurants
988.0
1,023.3
1,082.0
5.7 1,347.8
24.6 1,331.9
-1.2 310.9
-7.6 309.1
-10.9
Transport and Storage
3,014.0
3,345.9
3,653.4
9.2 3,635.0
-0.5 3,668.0 0.9 800.1
-6.7 888.4
-11.3
Information and Communication
777.0
909.0
1,286.0 41.5 1,598.6

24.3 2,213.0
38.4 631.2
28.5 602.1
18.4
Financial Intermediation
791.0
799.4
974.7 21.9 1,201.0

23.2 1,472.6
22.6 295.0 4.6 636.7
52.7
Business, Real Estate and Other Service Activities
1,076.0
1,227.1
1,452.0 18.3 1,198.0

-17.5 1,179.8
-1.5 259.8
-15.3 295.5
9.9
Public Administration & Defence: Social Security
1,249.0
1,341.4
1,397.2
4.2 1,514.4
8.4 1,500.1
-0.9 380.9 6.9 435.6
20.5
Education
963.0
999.8
1,066.8
6.7 1,140.0
6.9 1,221.1 7.1 309.8 4.9 325.4
6.3
Health and Social Work
347.0
364.2
Other Community, Social & Personal Service Activities
936.0
1,057.0
Trade; Repair of Vehicles, Household Goods
FISIM (Financial Intermediation Services Indirectly Measured)***
Gross Domestic Product at Basic Prices

Net Indirect Taxes
EQUALS : G.D.P. in Purchasers Values
* Finalized
** Revised
*** FISIM is a negetive term
Source: Ghana Statistical Service
404.1 10.9 435.5

7.8 537.2
23.4 112.0 1.2 128.7
16.9
1,100.9
4.2 1,503.0
36.5 1,367.8
-9.0 365.0 4.6 352.6
-9.8
797.0 903.6 1,015.3

12.4 1,314.6
29.5 1,393.7 6.0
22,424.0
25,573.4
27,949.9
1,677.0
1,912.6
2,090.3
24,101.0
27,486.0
30,040.3
na
na
na
na
4.0
na
na
na
na
9.3 2,240.1
7.2 2,324.2 3.8
na
na
na
na
7,703.6
4.3
8,214.4
3.9
9.3
9.3
29,993.8
32,233.8
7.3 31,194.2
7.3 33,518.4
4.0
40
Table 30. Gross Domestic Product at Current Prices: (Millions of Ghana Cedis)

2010
2011
2012
2013
2014*
2015Q1**
2015Q2**
AGRICULTURE
12,910.0 14,154.8 16,668.2 20,232.0 23,640.4 4,041.6 3,372.5
Crops 9,422.0
10,649.9
12,524.6
15,741.6
18,144.3
2,624.3
1,983.5
of which Cocoa 1,392.0
1,995.7
1,868.5
1,981.3
2,409.0
na
na
873.0
1,003.8
1,162.0
1,222.9
1,375.1
331.4
285.4
Forestry and Logging 1,614.0
1,549.2
1,879.6
2,018.7
2,841.9
708.7
715.2
Fishing 1,001.0
951.9
1,102.0
1,248.7
1,279.1
377.2
388.4
Livestock
INDUSTRY
8,294.0 14,274.4 20,438.0 25,112.8 30,547.0 8,103.2 9,472.3
Mining and Quarrying 1,013.0
4,689.9
6,960.5
8,503.1
8,639.9
1,355.4
1,635.6
178.0
3,746.3
5,648.9
7,441.4
7,792.9
na
na
Manufacturing 2,941.0
3,842.5
4,263.3
4,800.4
6,122.1
1,436.4
1,699.1
o.w. Crude Oil
Electricity
266.0
279.7
332.4
393.4
443.0
90.5
91.2
Water and Sewerage
368.0
467.4
511.3
568.2
576.0
151.2
150.2
Construction 3,706.0
4,994.9
8,370.4
10,847.7
14,766.0
5,069.6
5,896.2
SERVICES
22,184.0 27,422.7 35,837.3 44,963.8 53,371.7 14,777.4 19,116.0
Trade; Repair of Vehicles, Household Goods 2,701.0
3,282.3
4,059.9
5,221.9
6,445.3
1,802.2
1,814.1
Hotels and Restaurants 2,593.0
3,007.4
3,517.4
5,256.2
5,387.0
1,426.5
1,586.8
Transport and Storage 4,578.0
5,996.9
8,040.7
10,149.0
12,566.5
3,707.9
3,798.9
831.0
988.9
1,590.2
1,571.5
2,441.0
578.9
557.8
Financial Intermediation 2,240.0
2,465.9
3,451.8
5,884.8
7,858.6
2,396.1
5,950.3
Business, Real Estate and Other Services Activities 1,945.0
2,590.6
3,501.7
3,485.0
3,893.6
1,250.9
1,475.1
Public Administration & Defence: Social Security 3,024.0
3,896.8
4,951.9
5,305.3
5,861.9
1,419.4
1,655.6
Education 1,877.0
2,306.6
3,101.1
3,247.7
3,883.0
985.2
1,032.2
674.0
728.5
921.4
955.8
1,089.8
280.2
337.0
Other Community, Social & Personal Service Activities 1,722.0
2,158.7
2,701.2
3,886.5
3,945.0
930.1
908.2
Information and Communication
Health and Social Work
FISIM (Financial Intermediation Services Indirectly Measured)***

1,512.0 1,457.7 2,316.7 2,918.9 4,352.7 1,268.1 3,265.5
Gross Domestic Product at Basic Prices 41,876.0
54,394.2
70,626.7
87,389.7
103,206.3
25,654.0
28,695.3
Net Indirect Taxes 4,166.0
5,422.1
4,688.7
6,026.2
9,404.3
3,307.2
3,305.0
EQUALS : G.D.P. in Purchasers Values 46,042.0
59,816.3
75,315.4
93,415.9
112,610.6
28,961.1
32,000.3
* Finalized
** 2012 Revised
*** FISIM is a negetive term
Source: Ghana Statistical Service

Statistical Bulletin Sept 2015 A4

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STATISTICAL BULLETIN

Prepared by Research Department

Average Inflation(%) (yr)

Core 1: INFXEU (inflation adj. for energy & utility)

Reserve Money (RM)

Total Liquidity (M2+)

Broad Money (M2)

Current Account (incl. official transfers)**

Private Transfers (net)**

Domestic Petroleum Prices (GH per litre): Premium

CIEA: year-on-year growth (real)

Net Domestic Financing (NDF)

Government Fiscal Operations (In million of GHC)

Debt Service/GDP (%)

Debt Service/Exports of goods and services (%)

External debt/GDP (%)

External Debt By Maturity (In million of US$)

CIEA: year-on-year growth (nominal)

Real Sector Indicators(Base: Avg. 2001=100)

Brent Crude Oil [US$ per barrel]

Gold [US$ per fine ounce] 1,283.32

Cocoa LIFFE [ per tonne] 1,938.43

Commodity Price Movements

(equiv in months of imports of goods & services)

Gross International Reserves 4,489.39

External Sector Developments (US$ million)

Private Sector Credit

Monetary Sector Indicators (y-o-y) Growth (%)

Inflationary Measures [COICOP Based] (y-o-y)

Inflation Trend: Combined, Food & Non-Food

Headline Inflation and Core Inflation

Contribution of Non-food Basket to Overall Inflation :(%) Mar-15 & Jun-15

Miscellaneous goods & Services

Alcoholic Beverages, Tabacco & Narcotics

Housing & Utilities

Recreation & Culture

Clothing and Footwear

Hotel, Cafes & Restaurants

Ghana Monetary Survey

Monetary Sector Indicators Growth (y-o-y)

Growth Rate (%)

Net Foreign Assets

Net Domestic Assets

Private Sector Credit

Components of Money Supply

Broad Money (M2)

Money Supply (M2+)

Reserve Money & Its Components

Currency Outside Banks

Time & Savings Deposits

Foreign Currency Deposits

Currency outside Banks

Reserve Money (RM)

Money Supply (M2+)

DOMESTIC INTEREST RATES

Policy Rate & Weighted Average Inter-Bank Rate

Rates on Short-Term Securities

Weighted Avg.Inter-Bank Rate

91-Day (T/Bill Int Equiv)

DMBs Credit Aggregate

182-Day(T/Bill Int Equiv)

Savings rate (3-month Time Deposit Rate)

Average Lending Rate

Summary of Government Finances