Tag: public debt
-
Citi Business News Fact-checking: Ghana’s public debt accumulation slows in 11-yrs
The Vice President Dr. Mahamudu Bawumia on Tuesday, February 11, 2020, speaking at a town hall meeting in Kumasi said the pace at which the country’s public debt is rising has slowed down under the Akufo-Addo administration. He further stated that the Akufo-Addo government is the first to have achieved that feat since 2008. Citi…
-
Debt rise under Akufo-Addo lowest in a decade – Bawumia
Despite the public debt rising to GH¢214.9 billion as at November 2019, representing 62.1 percent of GDP, Vice President, Dr. Mahamudu Bawumia, says the rate of debt accumulation over the last three years is the lowest the country has achieved in a decade. “The strong fiscal adjustment that has taken place and better debt management…
-
New US$3 billion Eurobond will not balloon public debt – Ofori-Atta
The Finance Minister, Ken Ofori-Atta, has given the assurance that the country’s debt to GDP, which is the total value of all goods and services produced, would not escalate to alarming levels with the issuance of the latest Eurobond. Ghana’s debt to GDP is currently around 63 percent. Following Ghana’s eighth appearance on the Eurobond…
-
IMF warns government against collateralised borrowing
The International Monetary Fund (IMF), is warning the government to avoid collateralized borrowing as a means of reducing the mounting public debt. The Executive Board of the Fund after the conclusion of its Article IV Consultation with Ghana expressed concern about Ghana’s high risk of debt distress and highlighted the need to strengthen the fiscal…
-
Ghana’s debt stock reaches 208.6 billion cedis
Data released by the Bank of Ghana shows that between July and September 2019, Ghana’s total debt stock increased by 3.1 billion cedis, hitting 208.6 billion cedis. The figures contained in the Bank of Ghana’s Summary of Economic and Financial Data also shows that the total debt stock of 208.6 billion cedis represents 60.3 percent…
-
[Article] Ghana’s monstrous debt: a flashback of pre-HIPC levels
Spotting his favourite white African kaftan with a Ghanaian flag pin adorning the pocket, Ghana’s Finance Minister, Ken Ofori-Atta, appeared before legislators in July presenting the mid-year budget review, he announced measures being instituted to shore up tax collection. The government has been struggling for the past two years to meet its revenue collection targets,…