Tag Archives: DEBT

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 …

The Electricity Company of Ghana (ECG) is considering disconnecting power supply to the Parliament of Ghana on Wednesday, February 21, due to an outstanding debt exceeding GH₵23 million. This potential action is part of the ongoing “Operation Zero Balance” initiative which aims to recover unpaid debts from various customers. The …

The Accra Academy Senior High School (SHS) is currently without power due to disconnection by the Electricity Company of Ghana (ECG) over alleged unpaid arrears. Citi News‘ Fauzu Masawudu reported that as of 8:40 pm when he arrived, the entire campus was in darkness, with students using torchlights in their …

  The Korle Bu Teaching Hospital (KBTH) is appealing to Parliament to expedite the approval of the fees charged by the facility, especially dialysis fees. According to the facility, it has so far incurred about GH¢2 million in debt for charging old fees for dialysis treatment. The renal unit of …

  John Mahama, the flagbearer of the National Democratic Congress (NDC) for 2024, presented a policy paper on behalf of the party during a meeting with the Ghanaian Trades Union Congress (TUC). According to him, every Ghanaian has a debt of GH¢19,000 if the GH¢577 billion national debt is divided …

The minority in Parliament has issued a directive to Dr. Ernest Addison, the governor of the Bank of Ghana, demanding the reinstatement of over 32 billion cedis in government debt that was previously written off under the DDEP. The directive comes amid revelations that the Bank of Ghana incurred losses exceeding 60 billion …

The Russian Government is to allocate more than US$90 million as assistance to lower Africa’s debt burden. The aid, announced at the Second Summit of the Russia-Africa Economic and Humanitarian Forum, is to help the continent to tackle its debt issues. African countries’ debt issues before the East European giant …

A court ruling ordered Ghana Premier League giants Asante Kotoko to settle their debt of GH₵69,000 Noks Hotel in Kumasi, according to Kessben FM’s Frank Naro, on Friday, July 21. The Porcupine Warriors had some club officials and players stayed at the Kumasi-based hotel between 2018 and 2020 which has …

The local currency has experienced a reversal of its recent gains, losing 1.48 percent. It traded at GH¢10.98 to the United States (US) dollar at the end of last week. Initially, positive market sentiments prevailed and were attributed to approval of the US$3billion International Monetary Fund (IMF) bailout programme. However, an increase …

Ghana’s public debt stood at GH¢434.6 billion as of December 2022 according to the Bank of Ghana’s Summary of Economic and Financial Data for April 2023. This is a reduction of GH¢141.1 billion in the country’s public debt. This represents 71.6% of the country’s Gross Domestic Product. This is a reduction …