Browsing: Ghana debt

Fitch also anticipate same for Zambia due to gradual fiscal consolidation in these nations, attributing it to financing constraints and ongoing fiscal reform efforts, often linked to International Monetary Fund (IMF) programs.

The World Bank has said debt levels and vulnerabilities which remain high could worsen, especially for countries that have…

Adnan Adams Mohammed As the debate on the proposed new tax bills rages on, continuing from part one of…

Adnan Adams Mohammed The Ghana Revenue Authority (GRA) says, in a special exercise to seal revenue losses, recovered in excess of…

An economist believes that, as Ghana moves to negotiate with China for debt forgiveness, the debt stressed country needs proactively to industrialize the economy in order to withstand external economic shocks.

The analyst explains that, Ken Ofori-Atta has done two turnarounds in less than a week on the structure and procedure for the debt exchange.  

The exemption was announced after a meeting between the Government of Ghana (GoG) represented by the Ministry of Finance, Ministry of National Security and the Ministry of Employment and Labour Relations, on one hand and Organised Labour/Associations, on the other hand.

Last week, government invited holders of domestic debt to voluntarily exchange approximately GHC137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.

According to the Finance Minister Ken Ofori Atta, these comprise an agenda to: aggressively mobilize domestic revenue; streamline and rationalise expenditures; boost local productive capacity; promote and diversify exports; protect the poor and vulnerable; expand digital and climate-responsive physical infrastructure; and implement structural and public sector reforms.

The report said persistent uncovered auctions and portfolio reversals by non-resident investors continue to pose risks to financing of the budget, resulting in monetization of the budget deficit by the central bank.