Some economists have lauded government on the issuance of a historic 15-year bond, as part of measures to pay off some debts accrued from the issuance of short-term bonds by the previous government. The finance ministry yesterday successfully issued 15 and 7-year bonds with the same coupon of 19.75%, raising a total amount of $1.13 … Read more
Some economists have lauded government on the issuance of a historic 15-year bond, as part of measures to pay off some debts accrued from the issuance of short term bonds by the previous government. The finance ministry yesterday successfully issued 15 and 7-year bonds with the same coupon of 19.75%, raising a total amount of … Read more
The Association of newly trained teachers (NETTAG) has accused government of reneging on its promise of paying them their seven months’ salary arrears and feeding grants. According to the teachers, the government failed to pay the monies in spite of an assurance by the education minister Mathew Opoku Prempeh. “At a meeting held between the … Read more
The Association of newly trained teachers (NETTAG) has accused government of reneging on its promise of paying them their seven months’ salary arrears and feeding grants. According to the teachers, the government failed to pay the monies in spite of an assurance by the education minister Mathew Opoku Prempeh. “At a meeting held between the … Read more
Government has raised more than GH3.4 billion in the country‘s first 15-year bond as well as GH1.4 billion in another seven-year government paper that was also closed last Friday. The State is expected to pay investors who participated in the two bonds an interest of 19.75 percent. Although government actually had GH3.427 billion worth of … Read more
US students’ debt burden is soaring, creating a barrier to home ownership and economic mobility as well as a potential drag on consumer spending, a senior Federal Reserve policymaker said Monday. The phenomenon persists even as the overall picture for US household debt has steadily improved. A decade after the financial crisis, rising incomes and … Read more
Chief Executive Officer (CEO) of Gold Coast Financial Holding, Mr. Kwame Ofori Asomaning, has emphatically stated that ‘Ghana’s debt is no debt at all.’ According to him, so far as government of Ghana does not run short of laws, there is no way it can run out of Ghana cedis. Mr. Ofori Asomaning made the … Read more
The current public debt of GHC122.3 billion for-end-of last year could increase further when the final numbers are released Joy Business checks reveal. Although figures released by the central bank on Friday in its Summary of Economic and Financial Data are provisional they suggest that the final numbers might be more than the GHC122.3 billion … Read more
Net debt owed banks and fuel suppliers alone under the energy sector debt hit 1.2 billion cedis at the end of 2016. According to documents cited by Citi Business News as at 31st December, 2016 Government’s net debt in the Energy sector was 2.3 billion dollars. A breakdown of the debt shows that the banks … Read more
Ghana’s US$750 million Eurobonds which sold last year and was oversubscribed by more than five times has been adjudged the Best bond in Africa for 2016 by EMEA Finance, an international magazine that reports on emerging financial markets in Europe, Middle East and Africa (EMEA). The bond which sold at a yield of 9.25 percent … Read more
Net debt owed banks and fuel suppliers alone under the energy sector debt hit 1.2 billion cedis at the end of 2016. According to documents cited by Citi Business News as at 31st December, 2016 Government’s net debt in the Energy sector was 2.3 billion dollars. A breakdown of the debt shows that the banks … Read more
A senior lecturer and the head of finance department of the University of Ghana (UGBS), Prof. Godfred Bokpin has said that Ghana needs to grow its economy to sustain its debt. He was speaking on the topic, Ghana’s Debt in perspective: What’s the way forward at the 3rd BTA Business Summit yesterday at the Coconut … Read more
The Community Water Alliance (CWA) says the $245 million owed to City of Harare by residents is an inflated figure and has called for a thorough debt audit first before ratepayers are forced to settle their outstanding bills. Harare is owed about $600 million by ratepayers, but the main defaulters are government departments and corporates. … Read more
There’s a very high possibility that if you are earning a small income, you will borrow money to sustain yourself. It does not have to be this way because being in debt can be very stressful and frustrating especially if you earn a small income. As a result, instead of planning how to improve your … Read more
As president Nana Akufo-Addo prepares to deliver the State of the Nation Address, Finance Minister Ken Ofori Atta has disclosed that Ghana debt as a percentage of GDP has hit 74 percent. By the third quarter of 2016, figures released by the Bank of Ghana showed that the country’s debt stock had reached GH¢112.4 billion … Read more
As president Nana Akufo-Addo prepares to deliver the State of the Nation Address, Finance Minister Ken Ofori Atta has disclosed that Ghana debt as a percentage of GDP has hit 74 percent. By the third quarter of 2016, figures released by the Bank of Ghana showed that the country’s debt stock had reached GH¢112.4 billion … Read more
US household debt surged $460 billion last year, the biggest increase in 10 years, and has nearly returned to the peak level before the global financial crisis, the New York Federal Reserve said Thursday. However, the increase in recent years has been driven by student debt and auto loans, rather than by the mortgages that … Read more
High asset risks pose the biggest challenges for banks in Ghana, says Moody’s Investors Service in a report published today. “We expect asset risk for banks in Ghana to remain high over the coming quarters,” says Akintunde Majekodunmi, Vice President and Senior Analyst at Moody’s. “Nonperforming loans rose to 17.4% of total lending in December … Read more
The Member of Parliament (MP) for Bolga Central, Mr Isaac Adongo, has accused the government of trying to court sympathy from the International Monetary Fund (IMF), using the GH¢7 billion expenditure loophole’ as a bait. x After realising that the three-year extended credit facility (ECF) with the IMF limits the amount the government can borrow … Read more
A number of health service providers under the National Health Insurance Scheme (NHIS) have not been paid their claims for the past seven months. The situation has been precipitated by the inability of the Ministry of Finance to release funds to the National Health Insurance Authority (NHIA) to pay the service providers timeously. Information indicates … Read more