The figures are contained in Bank of Ghana’s Summary of Economic and Financial Data The Bank of Ghana has disclosed that Ghana’s debt has reached a total amount of GHC129.5 billion representing a seven billion cedi increase in the country’s debt stock since December 2016. The figures are contained in the Central Bank’s Summary of … Read more
Ghana’s public debt has reached GHc129.5 billion according to Bank of Ghana’s Summary of Economic and Financial Data issued Friday May 19, 2017. This represents 63.7 percent of GDP. The current figure is 7 billion higher than the 122 billion recorded at the end of 2016. Per the data, out of the GHc129.5 billion, external … Read more
Debt management strategies being deployed by government will take a while before impact can be felt The International Monetary Fund (IMF) says it is optimistic the Akufo-Addo government’s debt management strategies would help reduce the Public debt. In its Fiscal Report, the Fund, however, said the country will end the year without making significant progress … Read more
The International Monetary Fund (IMF) has thrown its weight behind the government’s decision to rely primarily on domestic borrowing to finance the deficit this year. It says the country’s strong appetite for foreign debt in recent times could prove injurious to the economy in the long run, given its implication on debt refinancing and exchange … Read more
Concerns over the huge foreign dominance in the country’s recent uptake of $2.25 billion in offshore bond transaction have sparked fears of imminent exchange rate shocks when investors withdraw from the market. Ghana sold GH¢ 3.42 billion (US$790 million) of a 15-year debt and a fresh seven-year paper worth GH¢ 1.45 billion (US$335 million) at … Read more
Kenya is looking to receive up to Sh100 billion in syndicated loans by end of March as it moves to patch up the current financial year’s budget deficit ahead of the General Election, Treasury PS Kamau Thugge has said. Delays in getting the syndicated loans have been attributed to a number of factors, among them … Read more
A Bank of Ghana (BoG) summary of Economic and Financial Data says Ghana’s total public debt has hit Gh¢119.9 billion as against the latest figure of 110 billion Cedis released in July 2016. Out of this, total external debt amounted to 66 billion Cedis and domestic debt was 53.9 billion Cedis, of the debt stock. … Read more
The Bank of Ghana’s (BoG) Macroeconomic and Financial Data report revealed that the country’s debt stock has reached GHC120 billion as at November 2016. This was contained in the summary of released by the Central Bank at the end of the Monetary Policy Committee meeting on Friday 20 January 2017. The new figures show that … Read more
The incoming government led by President elect Nana Akuffo Addo is likely to renegotiate Ghana’s deal with the International Monetary Fund (IMF) in a bid to stabilize the economy. This is the assertion from some economists. According to them, renegotiating aspects of the IMF deal will save the country from further increase in its debts. … Read more
The incoming government led by President elect Nana Akuffo Addo is likely to renegotiate Ghana’s deal with the International Monetary Fund (IMF) in a bid to stabilize the economy. This is the assertion from some economists. According to them, renegotiating aspects of the IMF deal will save the country from further increase in its debts. … Read more
Ghana’s total public debt stock, which stood at GH¢110 billion at the end of August, increased to GH¢112.4 billion at the end of September 2016, representing 67.4 percent of Gross Domestic Product (GDP). Per the aforementioned figures, the country incurred a debt of over GH¢2 billion from August to September 2016. Out of the total … Read more
Civil Society organisations (CSOs) have indicated that government’s spending cuts and tax rises will intensify after the December 2016 elections which would lead to job losses. According to the organisations, “Only after the elections will the true International Monetary Fund (IMF) austerity programme begin.” In a recently published report, titled: “The fall and rise of … Read more
Ghana is in a debt crisis. Despite having had significant amounts of debt cancelled a decade ago, the country is losing around 30% of government revenue in external debt payments each year. 1 Such huge payments are only possible because Ghana has been able to take on more loans from institutions such as the International … Read more
The World Bank President says he does not think Ghana and other African countries with high debt levels are at risk of falling into debt distress or “Highly Indebted Poor Country (HIPC)” category. Jim Young Kim was responding to a question about how the rising debt levels of some African countries, especially for those that … Read more
The World Bank President says he does not think Ghana and other African countries with high debt levels are at risk of falling into debt distress or “Highly Indebted Poor Country (HIPC)” category. Jim Young Kim was responding to a question about how the rising debt levels of some African countries, especially for those that … Read more
A few days after approved Ghana’s third review under the its Extended Credit Facility (ECF) program the International IMF has praised Ghana for making substantial progress in pushing fiscal deficit and debt down. Team lead for the IMF team to Ghana Toujas- Joel Bernate in an interview said ‘ In terms of progress, one of … Read more
The International Monetary Fund (IMF) is warning of a full-blown financial crisis for Ghana if aggressive measures are not taken to check government’s rising debts. The Fund gave the warning in its staff report sent to its Executive Board requesting it pass Ghana’s performance under the third review of the program. According to the IMF … Read more
The opposition New Patriotic Party(NPP) borrowed 750 million dollars from the International Financial Market in 2007, and despite this huge amount borrowed, it failed to allocate 1 dollar of this amount to pay for the gang of four road project, Transport Minister Fiifi Kwetey has said at the governing National Democratic Congress’ Setting the Records … Read more
Finance Minister Seth Terkper has expressed hope that a milestone agreement reached with creditors over VRA’s debts will be enough to ease holdup in discussions with the International Monetary Fund (IMF) over the ongoing bailout programme. The Minister, on Wednesday, told the press at a meeting also attended by bigshots of the banks the VRA … Read more