Tag: debt
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Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in June; 78.3% of GDP
Latest data released by the Bank of Ghana puts Ghana’s total public debt stock as at June 2022, at USS 54.4 billion or GH¢393.4 billion. In Dollar terms, the debt dropped by about $4 billion in the first 6 months of the year, from $58.6. billion in December 2021 to $54.4 billion at half year,…
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The crisis of debt and Oil price shocks: The looming storms in Ghana
According to the World Bank, Ghana’s economy faces the risk of collapsing by 2022 due to a looming debt crisis. We draw on history and current situations in some developing economies to shed light on this predicament, suggesting solutions that we believe can prevent us from being in recovery mode. The 1980s is wildly celebrated…
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Ghana gets $1bn pledge from banks to spur finances
International banks have pledged to lend Ghana $1 billion for budget purposes and to boost central bank reserves as the country seeks to cut its fiscal deficit and stabilize the local currency. This is according to Bloomberg. The country raised $750 million through syndicated loans with the participation of about eight African and European banks…
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PMMC appeals for gov’t support to settle its GH¢65 million debt
The Precious Minerals Marketing Company (PMMC) Limited, is calling for government support to settle a legacy debt of over GH¢65 million. The company owes some four banks, and the debt has accrued over a ten-year period. The revelation comes after the 2020 Auditor General’s report, revealed that losses posted by state enterprises and specified entities…
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Ghana won’t return to IMF for financial support – Ofori-Atta reiterates
Finance Minister, Ken Ofori-Atta has downplayed reports that government is considering the option of returning to the International Monetary Fund, IMF, for some financial support to help stabilize the economy. Some economists and finance professionals have already predicted that the country will secure a program from the fund to help deal with the current revenue…
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Ghana’s debt stock hits GH¢336 billion; debt-to-GDP ratio now 76.4% – BoG
Latest figures released by the Bank of Ghana indicate that in two months, the country’s public debt stock has increased by GH¢3.5 billion. By this, Ghana’s total public debt stock increased from about GH¢332 billion in May 2021 to about GHC336 billion in July 2021. According to the latest Bank of Ghana’s Summary of Macroeconomic…
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Ghana mulls Africa’s first social bonds with $2 billion sale
Ghana is planning to issue green and social bonds of up to $2 billion by November, which would make it the first African country to sell debt to fund development programs. This is according to Bloomberg. The West African economy, which is planning to borrow up to $5 billion on international markets this year, would…
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Balance developmental spending and debt accumulation – IMF to Ghana Government
The International Monetary Fund (IMF) says it is more important now than ever, that Ghana balances its developmental spending needs against the rate of debt accumulation by the country. Ghana’s debt to GDP ratio crossed the dreaded 70% threshold back in September 2020 and is expected to hit 81.5% by the end of this year…
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Ghana’s debt stock rises to over GHS291 billion
Ghana’s debt stock has hit GHS291.6 billion as of December 2020. This was disclosed on Friday, March 12, 2021, by the Minister for Parliamentary Affairs and caretaker Minister for Finance, Osei Kyei-Mensah-Bonsu. “The total public debt has increased from GHS122 billion, which is 69% of GDP to GHS291.6 billion, which is 76.1% of GDP, as…
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![Key parties in domestic debt capital markets transactions [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2021/02/1341e8c0-1a99-4e3d-8d60-2e248f46ddbf-1.jpeg)
Key parties in domestic debt capital markets transactions [ARTICLE]
I recently chanced on a report published by the Ghana Fixed Income Market dated January 2021 as well as the December 2020 monthly bulletin from the Central Securities Depository providing some useful information on the domestic capital market. I further delved into how the corporate bond market has performed over the years and if there…