Government’s efforts to address the debt position of four key state-owned enterprises in the energy sector has left the International Monetary Fund (IMF) flummoxed as to how the debt restructuring strategy will absolve the companies from plunging themselves in future debts. The borrowings of the four firms- VRA, ECG, GRIDCo and TOR- hit GH¢19 billion … Read more
Finance Minister Seth Terpker is leading government’s delegation to the International Monetary Fund (IMF)/World Bank meetings which open in Washington DC from October 4 to 14. He is joined by the Governor of the Bank of Ghana (BoG), Abdul Nashiru Issahaku and his second Deputy Governor , Johnson Asiama as well as the Chairman of … Read more
Consumers of petroleum products will have to stomach the burden of paying the Tema Oil Refinery (TOR) Debt Recovery Levy for at least another 10 years as debt owed by the country’s sole oil refinery reaches its peak, Kwame Awuah-Darko, Managing Director of TOR has said. The notice of the TOR boss, which is expected … Read more
There’s one thing standing between Ghana and a new Eurobond sale: the International Monetary Fund’s concern that the West African country may abandon monetary reforms and budget targets in the run-up to elections scheduled for December. The IMF last week sought a guarantee that Ghana won’t use central-bank funding to sidestep fiscal structures agreed with … Read more