Tag Archives: Debt

The International Monetary Fund (IMF) is a key player in global finance, offering monetary assistance to governments suffering economic difficulties. However, these loans from the IMF can have deep and varied effects on their economy. These effects are felt in some parts of Africa, particularly in regions where the debt …

The Chamber of Independent Power Producers (IPPs) has rejected any idea of restructuring arrears of its members as part of the ongoing or any future debt restructuring programme. In a letter to the Finance Minister, Ken Ofori-Atta, it said its members are rather prepared to engage with the government on …

The Association of Road Contractors Ghana has called on the government to urgently settle the GH¢5.9 billion owed to contractors to prevent their companies from collapsing. In December last year, sector minister Kwasi Amoako Atta assured Ghanaian road contractors that government will pay them a chunk of its debt before …

Ghana’s total debt stock has shot up to GH¢450 billion in 2022 from a total of GH¢120 billion in 2017, Finance Minister Ken Ofori-Atta has revealed. The current debt stock means Ghana has borrowed over GH¢300 billion since the Akufo-Addo-Bawumia-led government assumed power in January 2017. Appearing before the ad-hoc …

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 Electricity Company of Ghana (ECG) has declared ‘war’ on some 29 private and public institutions that indebted to the power company to the tune of GHC120 million. According to the ECG, the Institutions and individuals including some Members of Parliament may risk being disconnected from the national grid over …

Government has given a firm assurance that it will not default in its debt obligations despite the rising level of same.   The Deputy Minister of Finance explained that funds are being invested in some productive sectors and projects that will help pay back these loans on time.   Dr …

The 2021 budget statement presented to parliament by leader of government business Osei Kyei-Mensah-Bonsu has pegged Ghana’s fiscal deficit at 13.7 per cent of Gross Domestic Product (GDP). This deficit, according to the budget, includes the cost of the financial sector cleanup up.     “The fiscal deficit including the …

Senior Vice President of IMANI Africa, Kofi Bentil, says Ghana will lose the $55million case Chinese company Beijing Everyway has filed against it in the Court of International Arbitration. Speaking on Newsfile, he said that Ghana wrongfully breached the contract it signed with the company which was expected to handle …