Month: July 2020

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Hawa Koomson Will Not Escape Jail Term Under Mahama Govt – Sammy Gyamfi

23 July 2020

National Communication Officer of the largest opposition National Democratic...

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Kwamena Duncan Moves To End Senya Bereku Chieftaincy Stalemate

23 July 2020

Mr Kwamena Duncan, the Central Regional Minister, on Tuesday...

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Markets, Lorry Parks In Ahafo Undergo 2nd Disinfection & Fumigation

23 July 2020

Markets and lorry parks in the Ahafo Region on...

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COVID-19: Kweku Baako Mocks ‘Fake’ Pastors…’Backs’ Kennedy Agyepong’s ‘Crusade’ Against Them

23 July 2020

Renowned journalist and Managing Editor of the New Crusading...

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Gov’t to launch GHS100bn Coronavirus Alleviation Revitalization Programme

23 July 2020

In a bid to pursue an aggressive process of...

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Ejura: Police arrest woman for allegedly killing her two children

23 July 2020

Police at Ejura in the Ashanti Region have arrested...

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Akufo-Addo leaves Ghana to mediate political crisis in Mali

23 July 2020

The President, Nana Addo Dankwa Akufo-Addo, left Ghana on...

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COVID-19: Government announces GHS 10.3m package for ‘infected’ health personnel

23 July 2020

Government has provided a life insurance package worth GH¢10.3...

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Ghana positioned to become automobile manufacturing hub in Africa – Ofori-Atta

23 July 2020

The development of the automobile industry in Ghana will...

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Ghana’s debt stock rises to GHS255.7 billionGhana’s debt stock has risen to GHS255.7 billion, as of June 2020. Some GHS50 billion has been added to the debt stock in the last 12 months. Provisional figures from the Finance Minister, Ken Ofori-Atta, indicated that the current debt stock is 66.36 percent of GDP. “The increase was mainly as a result of a Eurobond issuance of US$3.0 billion in February 2020, exchange rate depreciation, frontloading of expenditures and the COVID-19 effect which increased the cedi equivalent of the outstanding debt stock,” Mr. Ofori-Atta explained during the mid-year budget review. The total debt stock was made up of GHS134.9 billion of external debt and GHS120.8 billion domestic debt. These accounted for 52.7 percent and 47.3 percent of the total public debt stock, respectively. As a percentage of GDP, external and domestic debt represented 35 percent and 31.36 percent, respectively. In the first quarter of 2020, Ghana added GHS16.9 billion to its debt stock, taking it to GHS 236.1 billion. This means Ghana added almost GHS20 billion to its debt stock in the subsequent three months, which coincided with the harshest periods of the COVID-19 pandemic. The debt figures have been a point of attack for the opposition National Democratic Congress. It claims the Akufo-Addo administration has been adding over GHS 3 billion monthly to Ghana’s public debt stock over the last three years. Former Finance Minister Seth Terkper also used to argue that Ghana’s total debt stock published by the Bank of Ghana was downplayed and not reflecting the true debt of the country.

23 July 2020

Ghana’s debt stock has risen to GHS255.7 billion, as...