The finance and economic expert warned that the worst thing that could happen to Ghana at this point as the economy strives to rebound will be to default on debt repayments and therefore admonishing the government to take drastic measures to help tame any unlikely situation of such.
The Bank of Ghana's data indicates, it secured GH¢470.4 million for the debt instrument, about 76% less than the targeted amount.
The domestic debt is a component of the total debt stock which stood at GH¢391.9 billion (equivalent of US$ 55.1 billion) as of March 2022, data from the Bank of Ghana indicate.
The issue of restructuring debt is a very complicated issue especially with the private sector and the Eurobond etc. We need to decide among ourselves on what type of structure that will be useful to us. We have essentially about 50/50 with regards to domestic and external debt”, Ken Ofori-Atta expressed.
According to Bloomberg, the yield on the country’s $1 billion bond maturing in 2026 declined for the sixth consecutive day, as President Nana Akufo-Addo reiterated government’s commitment to get the economy back on track.