Tag Archives: DEBT

The government of Ghana will this week start actively engaging external debtors with the view to getting debt cancellation, especially from the Paris club of creditors. The first stop of a government delegation seeking debt restructuring will be in China with Minister of Finance Ken Ofori-Atta will be leading the team expected …

Ghana was saved from having to pay a sum of $55 million after a Chinese-based construction company dragged it to the Permanent Court of Arbitration. The company; Beijing Everyway Traffic & Lighting was seeking for arbitration from the international court over what it said was the termination of a contract …

Over its expectation that government debt and revenue will continue to deteriorate, global rating firm, Moody’s, has downgraded Nigeria’s long-term foreign-currency and local-currency issuer ratings. In its latest assessment, the global rating agency also lowered Nigeria’s foreign currency senior unsecured debt ratings to Caa1 from B3 and changed the outlook …

The Nigerian consulate in Johannesburg, South Africa, had their power supply cut after it emerged that they owed the utility provider to the tune of 400,000 rand ($23,000). The power cut happened on Wednesday (January 18) but was restored same day after officials arranged to pay a deposit of US$7,000. …

All member-countries of the G20 group of economic powers are on board for a restructuring of Ghana’s debt; and Paris Club members are ready to take the first step toward forming a creditor committee, an official from the Paris Club said on Thursday. Ghana last week requested a restructuring of …

A retired senior police officer, Franklin Nertey, has called out President Nana Addo Dankwa Akufo-Addo for plunging Ghana into serious debt. In a viral social media video, the former policeman accused the president of failing to heed to advice in the management of the economy. According to him, he is on the …

Organized labour has declared an indefinite strike starting December 27, 2022. According to the labour unions, they will only rescind their decision when pension funds are exempted from the domestic debt exchange programme. According to Atinka News source, the decision to embark on the strike was reached after a meeting …

Resist the pressure to overspend while you could have a fun budget Christmas. The Christmas season is a time when people spend a lot of money. There is a tendency to splurge on the present without thinking about the future, and then once January comes, you’re struggling to survive or …

A Member of Parliament in the United Kingdom, Paul Afriyie has been declared bankrupt by a court after it emerged that he indebted to the tune of £1.7 million. Afriyie, despite being a Brit was born to a Ghanaian father and British mother but grew up in Britain largely under …

The Ghana National Association of Teachers (GNAT) has waded into the on-going debate on the government’s impending Debt Exchange Program set to be rolled out. According to the teachers, they are interested stakeholders on the Domestic Bond Market, running on the Teachers Fund with its subsidiaries, the Tier-3 Pension Scheme …