Ghana crosses deadly 70% mark with ¢120 bn debt


Ghana’s total debt stock has reached 119.9 billion cedis as at November 2016, figures from the Bank of Ghana have shown. The debt also represents 71.9 percent of the country’s Gross Domestic Product (GDP). According to the Bank of Ghana’s Economic and Financial Data, the country’s debt ballooned from 112.3 billion cedis in September 2016 to the current figure. By ...

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Bank of Ghana to issue new GHS5 note

5 cedis denomination

The Second Deputy Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has disclosed that the central bank will unveil new banknote in five-cedi (GH¢5) denominations. According to him, the banknote will be legal tender as well as a collector’s item. “The note will have new durable security features which can be easily identified by the public as well ...

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Renegotiate aspects of Ghana’s IMF deal – Kusi


The Executive Director of the Institute of Fiscal Studies (IFS), Professor Newman Kusi, has called for the renegotiation of aspects of Ghana’s Extended Credit Facility (ECF) agreement with the International Monetary Fund (IMF). According to him, the programme must be allowed to run to its fullest, “however there is the need to renegotiate some aspects.” Prof Kusi made the call ...

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Election year deficit blues….Terkper misses mark by 2%

After trying so hard to hem in election-year budget overruns, Finance Minister, Seth Terkper, has conceded that this year’s projected budget deficit of 5.1 percent could be breached by about 2percent. Government’s desire, under the ongoing 3-year International Monetary Fund (IMF) bailout programme, has been to contain over-expenditure, especially when previous election years have presented with large deficits. Mr Terkper, ...

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Ghana and India sign $422.87m loan agreements

Ghana has signed two separate loan agreements with the Export Import Bank of India, totalling $422.87 million for financing the construction of a railway line and a sugarcane development and irrigation project. The first agreement of $398.33 million buyers credit will be used to finance the construction of 84.8 kilometre – Tema to Akosombo railway line while $24.54 million will ...

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EC can’t declare Special Voting results ahead of Election Day

The Supreme Court has ordered that the Electoral Commission (EC) cannot declare the results of the Special Voting to be cast on December 1, immediately after the polls. “If the results of the Special Voting were declared on December 1, ahead of the general poll on December 7, the sanctity and secrecy surrounding the elections would gravely be prejudiced, and ...

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