The Bank of Ghana’s (BoG) Special Drawing Rights (SDR) holdings with the International Monetary Fund (IMF) decreased by $16.6 million in 2020. IMF SDR holdings of the BoG at end-November 2020 stood at Ghs 242.39 million ($42.2 million), but then declined to Ghs 148 million ($25.6 million) at end-December 2020. BoG’s Ghs 148 million ($25.6
Government has been urged to slow down on excessive borrowing as a precaution to reduce the country’s debt to GDP ratio. According to the International Monetary Fund, Ghana’s debt to GDP ratio is higher than what was actually put out by the government. The nation’s debt to GDP ratio actually ended 2020 at 78% of
Government continues to borrow aggressively on the domestic market to finance its budget, latest figures from the Bank of Ghana has revealed. Though there were more interest in the T-Bills, which could probably crowd out businesses and household consumers from getting access to loans, government also needs money to finance the budget. But interestingly, the
The International Monetary Fund (IMF), has expressed worry over Ghana’s rising debt stock noting the country has to implement some drastic measures to contain the debt situation. Addressing the issue, Director of the African Department of the IMF, Abebe Amero Selassie, adviced government that it revise some of its debt sustainability programmes. “Our engagement with
The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.
Vice President of Imani Africa, Bright Simons has said it has become critical for more public sector borrowing in order to survive as a country. According to him, the country’s fiscal space is currently under enormous fiscal pressure, a situation he believes makes a strong case for the country to borrow in order to survive.
The International Monetary Fund’s (IMF) classification of Ghana as a Low-income economy is a narrow way of defining a country’s economic status, Professor Peter Quartey has said. Prof Quartey, who is the Head, Economics Division, Institute of Statistical, Social and Economic Research (ISSER), University of Ghana, said just looking at the fiscal data, revenue, expenditure,
The Minister designate for Finance, Mr Ken Ofori-Atta, has justified the need to introduce new taxes at a time Ghanaians are coping with the negative impact of the coronavirus disease. Responding to a question during his vetting on Thursday by the Appointments Committee of Parliament, Mr Ofori-Atta said it was necessary for Ghanaians to learn
The size of Ghana’s economy is projected to swell from $62.8 billion in 2020 to $83.2 billion by the end of 2023. According to Fitch Solutions, research arm of credit rating agency, Fitch Ratings, the expansion of Ghana’s economy is expected to start this year, with the economy growing by $7.2 billion in monetary terms.
A campaign to prevent government from taking on more loans particularly through the issuance of debt-instruments – Eurobonds – on the international capital market has been launched. A campaign to prevent government from taking on more loans particularly through the issuance of debt-instruments – Eurobonds – on the international capital market has been launched. Adding