Tag: HIPC
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HIPC is behind us, there’s no turning back – Ofori-Atta
The Minister for Finance, Ken Ofori-Atta says Ghana is making economic progress and “there is no turning back” to the days of HIPC. The Minister said the decision of the President John Kufuor administration to sign Ghana unto the HIPC initiative was due to the poor economic situation inherited from the previous National Democratic Congress…
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IMF refutes ‘deceptive’ HIPC reports about Ghana
The International Monetary Fund (IMF) has refuted claims that Ghana has again been added to the list of Heavily Indebted Poor Countries (HIPC). “The HIPC Initiative is essentially closed for countries that have already reached the Completion Point. As you may recall, Ghana successfully reached the Completion Point in July 2004,” a statement from the…
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Ghana not back to HIPC; ignore contrary reports – Oppong Nkrumah
The government has rejected claims that the country has been declared as a Highly Indebted Poor Country (HIPC). There have been some media reports this week suggesting Ghana has been declared a HIPC country. But speaking at the Nation Building Updates on Tuesday, October 27, 2020, Information Minister, Kojo Oppong Nkrumah, said the reports are…
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African countries risk going back to HIPC debt levels with increased borrowing — Fmr Governor, Central Bank of Nigeria
The Former Governor of the Central Bank of Nigeria, Charles Soludo, is warning that sub-Saharan African countries that got huge debt forgiveness under the High Indebted Poor Countries could find themselves buried under debt once more if borrowing appetite is not curtailed. More than 30 countries in sub-Saharan Africa were beneficiaries of the World Bank…
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Ghana’s debt hits GH¢142.5bn, reaches 69.8% of GDP
New figures released by the Bank of Ghana (BoG) after its Monetary Policy Committee (MPC) meeting show that Ghana’s public debt reached 142.5 billion cedis as at December 2017, representing 69.8 percent of GDP. This is a reduction from the 73.3 percent recorded in December 2016. The total debt stock in 2016 was at 122.6…
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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…