U. S. Treasury Secretary Steven Mnuchin said on Thursday he was confident that Congress would raise the federal debt limit “before there’s an issue” with U.S. creditworthiness, and he pledged that the Trump administration’s tax reform plans would be paid for. “We’re going to get it increased,” Mnuchin told Fox Business Network about the debt … Read more
US Treasury Secretary Steven Mnuchin on Thursday announced his department is suspending contributions to government retirement and disability funds in order to keep the country’s debt under the mandated limit. Mnuchin said the new financing steps were required, and permitted by law, to avoid breaching the roughly $20 trillion debt ceiling set by Congress. “I … Read more
Debt servicing in 2017 is expected to hit GH¢17.55 billion, representing more than 25% of the total projected resource envelope for next year. It comprises GH¢11.1 billion (GH¢11,178,409,057) for interest payments and GH¢6.3 billion (GH¢6,371,656,454) for loan repayments. The high-interest payment is a reflection of unsustainably high public debt levels. Economic analysts have said the … Read more