3.6.5 Domestic Debt Stock The domestic debt stock at the end of 2011 was GHC11,841.1 million (20.8% of GDP), up from GHC8,280 million (19.3% of GDP) in 2010. This represents an increase of GHC3,560.90 million and was mainly on account of growth in the short term debt instrument which amounted to GHC4,353.3 million. Table 4.6: Domestic Debt Position, 2008 - 2011 Total Domestic Debt Outstanding Classification by Maturity Short term (one yr or less) Treasury Bill (91 days Treasury Bill (182 days) Treasury Bill (1 year) Medium/Long Term (over 1yr) Source: Bank of Ghana, 2011 3.7 2008 4,778.1 2009 6,083.2 2010 8,280.1 843.0 665.3 280.0 2,989.8 649.6 1,767.0 122.3 3,544.3 641.0 1,334.6 1,134.6 5,169.9 2011 11,841.1 Money Markets The capital market remains an important source for raising long term finance for businesses. The Ghana Stock Exchange (GSE) recorded strong performance by stocks from the banking and finance, agriculture, food and beverage and energy sectors. The GSE finished the year strongly with the All-Share Index posting a 34% increase over 2010. Nevertheless, the GSE Composite Index closed the year at 969.0 points representing a cumulative loss of 3.1 percent for 2011. The year-to-date basis of market capitalization increased by 135.4 percent (GHC27,230.5 million) to GHC47,300 million in December 2011 mainly due to the listing of Tullow PLC on the GSE. Sixth Annual APRM Progress Report: January – December 2011 55