Tag: debt
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Govt to pay all outstanding arrears by 2019
Government has set an ambitious target to complete payments of all arrears owed contractors by 2019. This follows a validation process to audit the arrears bequeathed the NPP by the erstwhile NDC administration. The Finance Minister, Ken Ofori Atta disclosed this during his midyear budget review to Parliament on Monday. According to him, the settlement…
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All shareholders must agree to delist CPC – COCOBOD
It appears that appeals to delist the Cocoa Processing Company (CPC) from the Ghana Stock Exchange, may not be heeded anytime soon as the majority shareholder, the Ghana COCOBOD, is yet to make any decision on the issue. Workers of the CPC, last month, ignited calls for the company to be removed from the list…
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Timing of energy bond critical for its success – Prof. Bokpin
Economist, Professor Godfred Bokpin has told Citi Business News the seeming delay in the issuance of the energy bonds may be deliberate to attract more buyers. He has however urged government to expedite processes to issue the energy sector bonds and improve the financial and energy sectors. According to Professor Bokpin, the country will suffer…
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Ghana crosses deadly 70% mark with ¢120 bn debt
Ghana’s total debt stock has reached 119.9 billion cedis as at November 2016, figures from the Bank of Ghana have shown. The debt also represents 71.9 percent of the country’s Gross Domestic Product (GDP). According to the Bank of Ghana’s Economic and Financial Data, the country’s debt ballooned from 112.3 billion cedis in September 2016…
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Inaccurate data from BoG, Finance Ministry affecting gov’t work – Osafo-Maafo
Senior Minister Nominee, Yaw Osafo-Maafo has disclosed that the lack of accurate data on Ghana’s debt has made it difficult for the NPP government to make projections on the fiscal gap to influence planning. According to him, the inconsistency of data from the Ministry of Finance and the Bank of Ghana on the debt owed…
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Reducing Ghana’s debt levels; MMDAs must generate their own funds – IFS
Government has been impressed upon to adopt fiscal decentralization policies and reduce the stress on the national budget. Proponents of this policy believe the overdependence of local governments on the national budget has contributed to increasing government obligations and subsequently the rising debt levels of the state. In its latest report on the economic priority…
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Seth Terkper presses local investors to buy $100m bond
Information gathered by Citi Business News indicates that government has commenced meetings with local investors as it prepares to raise its first dollar denominated bond locally. The Finance Minister, Seth Terkper met the investors in Accra last Friday (September 16, 2016), to convince them invest in government’s upcoming $100 million bond this month. The bond,…
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63% debt to GDP figure erroneous – Bawumia
A former Deputy Governor of the Bank of Ghana, Dr. Mahamudu Bawumia has questioned government’s 63% debt to GDP figure quoted as at the end of May this year. He describes as misleading, the calculation by which the said figure was arrived at. “The calculation of the GDP ratio used by the Minister is plain…