Ghana must legislate new measures to boost revenues by at least 0.5 percent of gross domestic product before the IMF reviews a $918 million credit deal next month, the Fund said. The West African nation must also outline plans to clean up the financial sector and show stronger commitment to cut debt, including limiting its … Read more
New figures from the Bank of Ghana(BoG) has shown that the country’s total public debt as at May this year was GHS137.2 billion. By this, the debt-to-GDP ratio is now at 67.5%. Tis was contained in the economic and financial data released by the Central Bank at the end of its Monetary Policy Committee meeting. … Read more
In 2016, the issue about debt stock and debt to GDP ratio were important part of public financial and economic management discourse in Ghana. Discussions about the economy is still focused on these metrics because of the current position that it is possible to borrow to improve both the debt stock and the debt to … Read more
The total public debt for the country as at May this year has reached ¢137 billion putting the debt-to-GDP ratio at 67.5%, a summary of economic and financial data released by the Bank of Ghana has revealed. This was at the end of the Central Bank’s Monetary Policy Committee meeting to review the health of economy over the … Read more
Latest economic and financial data released by the Central Bank puts the country’s debt stock at GHS127 billion at the end of March this year. After it met on Friday to review the health of the economy, the data showed that debt has increased from around GHS122 in December 2016 to GHS127 billion. This represents an increase of GHS5 … Read more
The International Monetary Fund (IMF) says Ghana will end the year without making significant progress in reducing its debt-to-GDP ratio. This is according to IMF’s Fiscal Monitor report released on the sidelines of the annual Spring meetings in Washington DC. Government was hoping to end the year with a debt-to-GDP of about 70 percent based … Read more
Government’s decision to turn to the domestic market for loans to finance key projects has received the support of the International Monetary Fund (IMF). With almost a half of the debt stock – GH¢68.9 billion or 40.8 per cent – in the hands of foreign investors, the IMF says should Ghana re-finance the fiscal deficit … 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
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
Latest figures from the government on Ghana’s total debt stock suggests that every Ghanaian, including new born babies, now owe four thousand five hundred and nineteencedis (GHC4,519) as at December 2016. This figure shows a one thousand, one hundred and thirty-two cedis (GHC1,132) increase from the three thousand, three hundred and eighty-seven cedis (GHC3,387) that … Read more
The International Monetary Fund (IMF) has expressed shock at the level of deterioration of various economic indicators in 2016 saying Ghana’s fiscal problems required strong efforts of consolidation and the government also needed to urgently address a problem of debt among state enterprises The Fund listed large fiscal slippages, deterioration of overall fiscal deficit, large … 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
Ghana’s total debt stock has reached 119.9 billion cedis as at November 2016, figures from the Bank of Ghana have shown. The debt also represents 71.9 percent of the country’s Gross Domestic Product (GDP). According to the Bank of Ghana’s Economic and Financial Data, the country’s debt ballooned from 112.3 billion cedis in September 2016 … Read more
Ghana’s total debt stock has reached 119.9 billion cedis as at November 2016, figures from the Bank of Ghana have shown. The debt also represents 71.9 percent of the country’s Gross Domestic Product (GDP). According to the Bank of Ghana’s Economic and Financial Data, the country’s debt ballooned from 112.3 billion cedis in September 2016 … Read more
The outgoing National Democratic Congress (NDC) government, under the leadership of President John Dramani Mahama, has managed to leave behind a historic and monstrous national debt of over GH¢112 billion as against the $300 million-Sinking Fund. Cassiel Ato Forson, a Deputy Minister of Finance, speaking at a press conference yesterday in Accra to throw more … Read more
The Industrial and Commercial Workers Union (ICU) has raised concerns over the need for the government to immediately take steps to prevent the country from its worsening debt situation. Figures from the Bank of Ghana shows the country’s total public debt stands at GH¢112.4 billion as of September 2016 which translates into about 67.4 per … Read more
The country’s debt stock has reached GH¢112.4 billion as at September this year a summary of economic and financial data released by the Bank of Ghana (BoG) has revealed. This came to the fore after BoG’s Monetary Policy Committee (MPC) met last week to review the health of the economy. The new amount, according to … Read more
Government has been advised to check the country’s rising debt stock. Chief Executive Officer (CEO) of Dalex Finance, Ken Thompson, who gave the advice recently in an interview with journalists in Accra, said government should invest in projects that would help lessen the debt burden of the country through investment into agriculture and other easy-to-recoup … Read more
A new report, jointly published by seven organizations, has revealed that Ghana is in a debt crisis because the country is losing around 30% of government revenue in external debt payments each year. It attributed the situation to a combination of the recent fall in the price of commodities and the loans not being used … Read more
A NEW report, jointly published by seven organizations, has revealed that Ghana is in a debt crisis because the country is losing around 30% of government revenue in external debt payments each year. It attributed the situation to a combination of the recent fall in the price of commodities and the loans not being used … Read more