Tag: Interest payments
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World growth holding up, but interest rates to peak higher – Fitch
Global growth is showing near-term resilience but with core inflation remaining stubbornly high, central banks will have to continue tightening policy in the coming months, says Fitch Ratings in its June Global Economic Outlook (GEO), released today. With monetary policy adjustments and their impact on the economy proving more protracted, the global growth outlook for…
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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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Mid-year budget: Out of every 1 cedi collected as revenue, 51 pesewas is used to pay debt
Ghana’s public debt reached GH₵203.9 billion in June 2019 and the cost of servicing this debt seems to be choking government’s ability to spend on the needed capital infrastructure. The Finance Minister Ken Ofori-Atta las week presented the 2019 mid-year budget requesting to spend an additional GH¢6.4 billion in the supplementary budget. Out of this…
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Total public debt stock nearly GHS200 billion
The Bank of Ghana latest economic data published has shown that the country’s total public debt is just GHS2 billion shy of hitting GHS200 billion. While the nominal debt figure continues to rise, when measured as a percentage of GDP, the debt is 57.5 percent of GDP, as of March 2019. The data published Friday…