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Ghana’s debt increase of 137 percent between 2016 and 2020 is lower than that of previous administrations, Finance Minister, Ken Ofori-Atta has disclosed. Comparing debt levels of all the past governments, Mr Ofori-Atta said the rate of increase in debt presently, was lower than that of former President John Kufuor, late former …
Read More »Mohammed Polo to petition President Akufo-Addo over $51,000 debt owed him
Ghanaian football icon Mohammed Polo has opened up on how one Dr Abubakari Ibrahim allegedly defrauded him of $35,000. Polo in a yet-to-be aired interview with GhanaWeb recounted that during his playing days, he was approached by the said Dr Ibrahim to invest in estates in London. Polo says that …
Read More »Gov’t to pay cocoa debts to farmers from Feb. 22 – Dr Afriyie Akoto
The Minister-designate for Food and Agriculture, Dr Afriyie Akoto has disclosed that government will commence payments to farmers for cocoa on Monday, 22 February 2021. He also stated that the Central Bank is collaborating with COCOBOD to raise funds to pay Licensed Buying Companies (LBCs), when he appeared before the …
Read More »Ghana’s debt stock hits GH¢286.9 billion
Ghana is running out of fiscal space as its debt-to-GDP ratio reached 74% at the end of 2020. Latest economic and financial data released by the Central Bank put the country’s debt stock at GH¢286.9 billion. This figure is the highest in nearly four years, following early attempts to cushion …
Read More »Ghana ranked 9th African country with largest Chinese debt
Ghana has been ranked as one of the countries on the African continent that is heavily indebted to Asian superpower, China. China over the past few years has established itself as one of the world’s economic superpowers and as such the Asian country has become one of the biggest lenders …
Read More »Ghana’s public debt exceeds sustainability threshold
As widely expected Ghana’s public debt has now passed the generally accepted sustainability threshold of 70 percent of Gross Domestic Product, the GHc273.8 billion in total debt by the end of September translating to 71.0 percent of GDP. This is up from GHc209.1 million a year previously by which time …
Read More »Every Ghanaian owes GH¢10K of national debt under Akufo-Addo – NDC
Per our current total public debt of GH¢258.8 billion, that is as at June 2020, every Ghanaian in Ghana today will have to pay about GHS10,000” according to National Democratic Congress (NDC). Addressing a press conference in Accra, the party’s Communications Officer, Sammy Gyamfi said said the Akufo-Addo-led New Patriotic …
Read More »Effia-Nkwanta dialysis unit shut down over debts
The dialysis Unit at the Effia-Nkwanta Regional Hospital in the Western Region has been shut down for almost a month now due to non-payment of consumables supplied to the unit. In October 2019, the Effia-Nwanta Hospital entered an agreement with VAO engineering services to supply consumables to its new dialysis …
Read More »PHOTOS: 24-year-old woman robs a bank to pay debts
A 24-year-old woman, identified as Phung Thi Thang, has been arrested by police after she robbed a Techcombank branch in Tan Phu District, Ho Chi Minh City, Vietnam. Confirming the incident on Sunday, October 11, the police said the suspect, who was wearing a cap, a long-sleeved shirt and a face …
Read More »Africa Automobile’s judgment debt against Ghana balloons to GHS1.5 trillion
A judgment debt secured against the Government of Ghana by Africa Automobile Limited in 2009 has ballooned to a whopping GHS1.5 trillion. The said judgment arose out of a contract for the provision of automobile services rendered by the Africa Automobile Limited to the Ministry of Employment in which the …
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