Tag Archives: DEBT

Deputy Minister of Finance, John Kumah, has underscored the enormity of the economic challenge that government is currently faced with and has thus urged institutional bondholders to sign on to the current domestic debt exchange proposed by government. Kumah told Joy FM on Tuesday, December 6; that the consequences for …

The Attorney-General, Godfred Yeboah Dame has in a legal opinion indicated that a mandatory Debt Exchange programme would be illegal. Finance Minister Ken Ofori-Atta on Monday announced domestic bondholders with the exception of Treasury bill holders will be affected by the debt exchange program. Per the arrangement, bondholders will get 0% interest …

The minority has threatened to disapprove the 2023 budget estimates, and debt restructuring until some five conditions are met by government. According to Haruna Iddrisu, they will not accept the debt restructuring programme announced by the finance minister. This comes after Finance Minister Ken Ofori-Atta announced that Ghana is embarking …

Actress Lydia Forson has poked leading member of the New Patriotic Party (NPP) Gabby Asare Otcere-Darko with respect to current economic challenges Ghana is facing. Miss Forson, who is known for her hot takes on the economy and politics, coughed up a tweet Gabby authored in 2015 when the NPP …

The minority in parliament has said they will not accept the debt restructuring programme announced by the Finance Minister. This comes after Finance Minister Ken Ofori-Atta announced that Ghana is embarking on a debt exchange program to ensure that debt levels are brought to sustainable levels. In an update on the economy, …

Minister of Finance Ken Ofori-Atta announced a Domestic Debt Exchange on December 4, 2022; with the view that details of the said programme will be presented today, December 5. One of three key points he put out in his four-minute address was the fact that there “There will be NO …

Minister of Finance Ken Ofori-Atta has been announcing measures to be contained in Ghana’s Domestic Debt programme. Speaking at a press briefing today, December 4, 2022; he outlined different measures as relates to among others Treasury Bills, other domestic bonds etc. “Your T-bills are safe. Treasury bills are totally exempted …

China has offered Rwanda a $7.1 million debt relief or 50 million RMB Yuan on a loan used to build the 6.36-kilometre Masaka-Kabuga road under the Kigali urban road upgrading project. According to a statement issued by Rwanda, the move is part of the Chinese government’s decision to cancel the …

Ken Ofori-Atta, Minister of Finance, disclosed in the 2023 budget statement that Ghana’s public debt has increased by GH₵93 billion ($6.53 billion at the current rate) due to the depreciation of the Ghanaian cedi since the beginning of 2022. According to him, the said amount is twice more than the …

The Electricity Company of Ghana (ECG) owes Independent Power Producers (IPPs) some US$996million for power purchased. The arrears, accumulated between 2021 and this year, stood at US$900million as at last May but have now risen to US$996million at the end of September 2022 due to ECG’s inability to fully pay …