The International Monetary Fund (IMF) has called on all bilateral creditors to support Ghana’s efforts to restore debt sustainability, as the country works towards presenting its economic programme for IMF Board approval.
President Nana Akufo-Addo has assured that government has made significant progress in its external debt negotiations since announcing an external debt service suspension on December 19, 2022 for certain categories of external debt.
The National Petroleum Authority (NPA) has revealed that the initial 40,000 tons of diesel that arrived in January under the Gold-for-oil policy were valued at US$40 million.
Policies spearheaded by the Bank of Ghana (BoG), particularly those driven by mobile money, led to a rise in financial inclusion to 68 percent in 2021 from 22 percent in 2011.
The Monetary Policy Committee (MPC) of the central bank has further raised the policy rate by 100 basis points to 28 percent from 27 percent, in an effort to drive inflation onto a downward path.
The Ghana Association of Banks (GAB) and government have reached a significant agreement regarding the terms of participation for banks in the Domestic Debt Exchange Programme (DDEP).
Inflation shot up by 3.8% to end 2022 at 54.1%, data from the Ghana Statistical Service (GSS) has revealed.
The Ministry of Education (MoE) has ordered public universities to refund monies paid above the 15% increment in fees.
Individual bondholders’ have now been included in the domestic debt exchange programme as the Government of Ghana has announced the further extension of the expiration date of its Domestic Debt Exchange to January 16, 2023.
It’s one of the biggest sovereign bond defaults of 2022, if hardly unexpected: Ghana announced Monday that it would no longer service most of its external debt, including all payments due to private-sector bondholders and other lenders.
The Association of Ghana Industries (AGI) is asking government not to touch pension funds of industrial workers as part of its Debt Exchange programme.
President Nana Akufo-Addo has said that African countries must wean themselves off “begging” the West to earn global respect and change poor perceptions about the continent.