Vice President, Dr. Mahamudu Bawumia has stated that Ghana’s debt stock is declining contrary to assertions that it is going up due to the issuing of more bonds. The government, since it took over, has issued bonds to the tune of about 40 billion cedis in the first six months. But responding to question from … Read more
Rating agency, Fitch, has forecasted that the 2017 budget deficit would narrow to 7.5% of GDP on a cash basis, and further to 5.5% in 2018. This deficit forecast by the US-based agency is higher than government’s 2017 forecast of 6.5% which the Finance Ministry is hoping to achieve with an increase in tax revenues … Read more
Government has raised a total of 1.01 billion cedis three-year domestic bond issued at a yield of 21.5 percent. The bond, which had a bullet principal payment was marketed to resident investors only, at an initial pricing guidance of 19 to 23 percent. According to the Bank of Ghana, the bond had a face value … Read more
Government has raised a total of 1.01 billion cedis three-year domestic bond issued at a yield of 21.5 percent. The bond, which had a bullet principal payment was marketed to resident investors only, at an initial pricing guidance of 19 to 23 percent. According to the Bank of Ghana, the bond had a face value … Read more
Government has raised a total of 1.01 billion cedis three-year domestic bond issued at a yield of 21.5 percent. The bond, which had a bullet principal payment was marketed to resident investors only, at an initial pricing guidance of 19 to 23 percent. According to the Bank of Ghana, the bond had a face value … Read more
Former Deputy Finance minister Mona Quartey has predicted the Akufo-Addo government will backtrack on its economic expectations when it realises that its 2017 budget presented last Thursday is not realistic. She said government is not facing economic reality because it wants to do more with less. For her, it is unrealistic to plan to roll … 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
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 (GHC 4,519) as at December 2016. This figure shows a one thousand, one hundred and thirty-two cedis (GHC 1,132) increase from the three thousand, three hundred and eighty-seven cedis … Read more
Credit Ratings Agency – Fitch – has said Ghana’s disclosure of $1.6billion unreported expenditure and the resulting failure to hit the 2016 fiscal deficit target highlights substantial risks to the country’s public finances. It explained that public finances are an important ratings weakness, saying the new government is committed to fiscal adjustment under Ghana’s IMF … 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
Without exception, all the major international ratings agencies have predicted a budget deficit overrun in 2016, a projection that has a strong likelihood of occurring given official data showing the budget gap had already been breached in the first nine months of the year. In its final Monetary Policy Committee press report for 2016, the … Read more
The Government of Ghana (GoG), thebftonline.com has raised an amount of 438 million Cedis (110 million) in its ten – year Cedi Bond. The debut Cedi bond though was highly over subscribed was at a fixed yeild of 19.0 percent. Information available to thebftonline.com indicates that the offer which was also open to foreign investors, … Read more
Some economists have predicted that Ghana will end this year (2016), with a budget deficit of 6 percent to GDP. They contend that the increased expenditure by government without an equal increase in revenue will cause a distortion to government’s budget deficit target for the year. “Per the projections, we are supposed to end the … Read more
Rating agency, Moody’s has reviewed Ghana’s issuer outlook from negative to stable, maintaining the rating at B3. The key drivers for the review, according to the rating agency, is the country’s significant fiscal deficit reduction and institutional reform implementation over the past year under the umbrella of the 3-year IMF programme starting April 2015. According … Read more