Ghana’s economy is still faced with significant financing challenges despite the government’s debt restructuring activities, a recent report by Fitch has indicated. As a result, the rating agency kept Ghana’s rating at a level that indicates that the country is effectively in default on its foreign debts. This rating, known …
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The International Monetary Fund (IMF) has justified the Bank of Ghana’s GH¢60 billion impairment loss recorded in the 2022 fiscal year. The Bretton Wood institution in a post captured on its website about Ghana on August 10, 2023 said there is no cause for alarm. It upheld the position that the Bank of Ghana suffered …
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Top Nigerian bank group, Guaranty Trust Holding Company Plc, has announced plans to slow down on lending and bond trading in Ghana following a $77 million (N35.6 billion) impairment in its West African subsidiary. The banking group said that it will instead focus its activities on Nigeria and other high-yielding …
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The National Communications Officer of the National Democratic Congress (NDC), Mr Sammy Gyamfi has said Finance Minister aken Ofori-Atta is a disease plaguing Ghana’s economy. Speaking on Newsfile on Saturday, 11 February 2023, Mr Gyamfi said: “This is the luckiest government we have seen in history”. “They’ve had unprecedented oil revenue, …
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Retired Chief Justice Sophia Akuffo has warned of legal consequences if government pushes ahead with plans to include pensioners in the Domestic Debt Exchange Programme (DDEP). Asked about what options are available to her as a lawyer, she pointed to the fact that insofar as government had properties, she could …
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Former Chief Justice, Sophia Akuffo, has described government’s move to include pensioners in the debt exchange programme as wicked, disrespectful and unlawful. According to her, it is wrong for government, through the Ministry of Finance, to sacrifice pensioners’ hard-earned monies to save the government after serving the nation. While bemoaning the …
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Dr Mark Assibey-Yeboah, a former chairman of the Finance Committee of Parliament is predicting doom for the financial sector if the Domestic Debt Exchange Programme (DDEP) is not handled well. The former Member of Parliament for New Juaben South does not see any light in the immediate future and is concerned that the finance …
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