Tag: debt to GDP ratio
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Ghana’s debt crosses GHS300 billion mark as debt-to-GDP ratio drops to 70.2%
Ghana’s total public debt stock has increased once again according to new data released by the Bank of Ghana. The debt stock which ended 2020 at GHS291.6 billion, saw about GHS13 billion being added in the first quarter of 2021. This represents an increase of about 4 percent, and brings Ghana’s total public debt as…
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Economists back calls by IMF for reduction in Ghana’s rising debt
Some economists in have backed calls by the International Monetary Fund (IMF) for Ghana to take immediate steps to reduce the country’s debt and debt servicing burden. The International Monetary Fund Staff Mission to Ghana, in its concluding statement following a visit to the country from April 28 to May 12, 2021, for the 2021…
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IMF Staff Mission reiterates calls for measures to reduce Ghana’s debt
The International Monetary Fund (IMF) Staff Mission to Ghana, has charged government to without delay implement the needed measures that will lead to a reduction in government’s overall debt as well as its debt servicing burden. The remarks were contained in a statement by staff of the IMF at the end of an official visit…
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COVID-19 related interventions pushing debt stock to unsustainable levels – BoG Governor
Governor of the Bank of Ghana Dr. Ernest Addison has stated that the current debt-to-GDP ratio of 71 percent could be an indication that government is approaching its limit when it comes to the implementation of its COVID-19 related interventions meant to cushion Ghanaians and businesses against the adverse impact of the global pandemic. Apart…
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Ghana’s debt stock hits GHS273.8 billion, crosses dreaded 70% debt-to-GDP mark
Ghana’s total public debt stock has risen by GHS54.8 billion in the first nine months of this year, hitting GHS273.8 billion as at the end of September 2020. Government is currently under pressure to slow down the rate of debt accumulation. The new debt figure pushes Ghana’s debt to GDP ratio to 71 percent, crossing…
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Economist bemoans increasing use of domestic revenue for debt servicing
An economist at the University of Ghana Business School, Dr. Patrick Asuming, has advised government to pay particular attention to the percentage of the country’s revenue used in servicing its rising debt. His comment follows the International Monetary Fund, IMF’s projection that Ghana’s debt to GDP ratio would hit a troubling 76.7 percent by the…
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Ghana’s debt hits 172.9 billion cedis
The total amount that Ghana owes reached 172.9 billion cedis in November 2018. This is according to data from the Bank of Ghana. The Summary of Economic and Financial data by the central bank shows that between July and November 2018, the country added 13.2 billion cedis to its debt. The figure went up from…
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Ghana’s debt nears distress levels – World Bank
Ghana stands a high risk of returning to a debt distress situation if it fails to manage its rising debt levels. That is the caution from the World Bank. According to the Bank, this will also mean the country will find difficulty meeting key government expenditure and impact on investments into the country. These among…