Tag Archives: DEBT

    China’s President Xi Jinping has said his nation will exempt some African countries from repaying zero-interest-rate loans due at the end of 2020. This follows calls by Finance Minister, Ken Ofori-Atta on April 6 2020 urging for a debt relief package from China to ease the economic burden on Africa …

The government of Ghana is seeking to borrow GH¢17.8 billion between May and August 2020. According to the Issuance Calendar, GH¢15.8 billion is to rollover or settle maturities and the remaining GH¢2.03 billion is a fresh issuance to finance government projects. The 91-Day Treasury bill dominates the issuance calendar with …

Leading Accra-based private tertiary institution, Regent University College has seen one of its buildings been put up for auction. A generator, two cars and a bus belonging to the University have been auctioned as well. One of the cars is said to be owned by its Chancellor. The auctioning is …

Government has completed payments of all legacy debts owed the Chamber of Bulk Oil Distributors (CBOD), according to the Chamber’s CEO, Senyo Hosi. A statement issued by the Chamber on Monday [February 10, 2020] said the government made payments to the tune of US$1 billion as of January 13, 2020. …

The World Bank has cautioned Ghana against piling its external debt and exceeding the sustainability threshold. According to the bank, Ghana is currently rated as a moderate to high-risk debt distressed country and so must tread cautiously. The government last week raised US$3 billion on the Eurobond market. The transaction …

Ghana’s debt-to-GDP ratio is projected to hit 65% by the year 2023. According to international rating agency Moody’s, Ghana’s debt will rise primarily due to an annual assumption of 2% of GDP in the form of contingent liabilities. Moody’s’ forecast also includes disbursements under the $2 billion financing deal with …

A new IMF staff report has said Ghana is closer to being classified as a high debt distressed country, theghanareport.com has learned. The possible classification means the IMF is concerned about the country’s ability to honour its international obligations. The public debt stock as at September 2019 was pegged at …

Ghana’s total debt stock has hit GHS208.6 billion, according to new data from the Bank of Ghana. The stock rose by GHS3.1 billion between July and September. Per the central bank’s Summary of Economic and Financial Data, the current debt stock represents 60.3 per cent of Ghana’s GDP. A total …

The Chinese government has decided to cancel a 250 million Yuan debt owed it by Ghana. In addition, the world super power has given the government 300 million Yuan grant to assist in its development process, both totalling 550 million Yuan. This came to light at a meeting between the …

While indications are clear that West Africa’s first refinery, the Tema Oil Refinery (TOR) is in a deep debt hole burden, officials employed to turn things around have rather resorted to a denial syndrome. The company lost a staggering GHS186 million in the first four months of operations this year. …