Tag: debt
-
Zambia advises Ghana to have restrictive laws on debt accumulation
Mr Situmbeko Musokotwane, Minister of Finance and National Planning, Zambia, has advised Ghana to have restrictive laws on debt accumulation. “We put a law in Parliament which tied my hands to say, going forward, you can’t be like those in the past. So, we tied our hands for Parliament to have more power and restrictions…
-
Government secures GH₵3.9bn in reopened DDEP
The government has secured GH₵3.9 billion in the reopened domestic debt exchange programme, the Ministry of Finance announced on Tuesday. This represents a significant achievement for the government, which is seeking to fully implement its COVID-19 programme for economic growth in the face of the prevailing economic situation. The Finance Ministry in a statement added…
-
Ghana’s debt falls to ¢434.6bn; now 71.2% of GDP – BoG
The country’s public debt dropped in December 2022 to end the year as data published by the Bank of Ghana shows debt to GDP is now 71.2 percent. Per the Central Bank’s Summary of Economic and Financial Data (May 2023), the total public debt for December 2022 is now ¢434.6 billion as of the end…
-
Ghana’s public debt stock still at ¢575.7bn – BoG data
Recent figures released by the Bank of Ghana indicate that Ghana’s public debt stock still remains constant at ¢575.7 billion at the end of November 2022. By this, Ghana’s total public debt stock increased from about GH¢467.4 billion in September 2022 to about GHC575.7 billion in November 2022. According to the latest Bank of Ghana’s…
-
Govt pays additional coupons on matured bonds
Government has made payments to bondholders who chose not to exchange their old bonds for new ones under the domestic debt exchange programme. This is the second tranche paid to bondholders after the government announced a payment plan and date to honour the coupons on matured bonds. After much agitation from the Coalition of Individual…
-
Ghana’s debt level frustrating businesses, individuals – IEA
The Institute of Economic Affairs (IEA), a public policy think-tank, has described Ghana’s current debt, which is being restructured, as “disheartening and frustrating”, to businesses and individuals. As a result, the Institute has advised Government to take action to swiftly conclude the debt restructuring process to secure the US$3 billion loan-support programme with the International…
-
DDEP: Economist urges government to strengthen industrialization policies
Economist and currency analyst at GCB Capital Limited Courage Boti is urging government to strengthen its industrialization policies as it moves to negotiate with China for debt forgiveness. He demystifies perceptions that China may seize the opportunity to take over the local industries if the negotiations are successful. However, Finance Minister, Ken Ofori-Atta, has disclosed…
-
Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG
Latest data released by the Bank of Ghana puts Ghana’s total public debt stock as at November 2022, at GHS 575.7billion. The November 2022 debt figure brings Ghana’s debt to Gross Domestic Product (GDP) ratio to 93.5%. According to the Bank of Ghana’s January 2023 Summary of Economic and Financial Data, the debt stock increased…
-
Ghana set to start debt-restructuring talks for local bonds
Ghana is poised to start talks with domestic bondholders on a restructuring of its local-currency debt as part of the West African nation’s plan to secure a $3 billion loan from the International Monetary Fund. The country’s eurobonds extended declines. This is according to the Bloomberg. The nation’s largest debt investors including local banks and…
-
S&P downgrade: Gov’t urged to quicken pace of fiscal consolidation
Economist with Databank, Courage Martey has reiterated calls for government to hasten the pace of fiscal consolidation in the short to medium term. In an interview with Citi Business News, the economist said this will restore the country back above the current downgraded position that the country is facing. His call comes as international ratings…