• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • ChannelOne TV
  • Infographics
Wednesday, July 9, 2025
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

Ghana’s debts level may make IMF negotiations tough – Prof. Peter Quartey

bySixtus Dong Ullo
September 27, 2022
Reading Time: 2 mins read
ShareShareShareShare

The Director of the Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana, Prof. Peter Quartey is worried that Ghana’s debt levels may pose a challenge to its move for an International Monetary Fund (IMF) support.

The Ministry of Finance on Monday announced that the IMF delegation is currently undertaking a comprehensive debt sustainability analysis of the country.

Acknowledging that the IMF has various support schemes the country could benefit from, the Professor of Economics is disturbed the country’s unsustainable debt levels raise more concerns.

“For IMF, they require that you have a sustainable debt level or a medium-term plan to ensure that, your debt levels become sustainable. They have been sounding this warning, but Ghana’s debt sustainability threshold is not good.”

The Ministry of Finance has confirmed that its officials and that of the Bank of Ghana have commenced a comprehensive debt sustainability analysis with the IMF for a $3 billion support programme.

A statement from the ministry said: “the Government of Ghana is putting together a comprehensive post-Covid-19 economic programme which will form the basis for the IMF negotiations.”

“The programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability, underpinned by key structural reforms and social protection.”

The ministry added that it is “optimistic about making progress in our discussions.”

“Government remains committed, and shall continue to actively engage all stakeholders, both public and private, in a clear and transparent manner as we seek to fast-track this process.”

But, Prof. Peter Quartey fears, “we are at a risk of debt distress as anything above 60 percent raises a red flag. Currently, we have hit the threshold, so going in for borrowing will be tough for us”, he said on Eyewitness News.

An IMF team is in Ghana until October 7 to continue discussions with the government on policies and reforms that could be supported by a lending arrangement.

The meeting with the IMF comes amid concerns that Ghana is about to start talks with domestic bondholders on a restructuring of its local-currency debt.

News reports indicate that major local investors, including local banks and pension funds, are preparing to engage in discussion on debt reorganisation.

This could entail the extension of maturities and haircuts on principal and interest payments.

Ghana’s debt-service costs in the first half amounted to GH¢20.5 billion, equivalent to 68 percent of tax revenue.

Tags: debtGhana NewsIMF
ShareTweetSendSend
Previous Post

Nobody suffers if other IDs are used for voter registration – Asiedu Nketiah

Next Post

First Atlantic Bank brightens lives across Ghana

Related Posts

Featured

Akufo-Addo failed to deliver tangible economic results – Gbande

July 8, 2025
Featured

Ablekuma North NPP questions EC’s credibility over planned rerun

July 8, 2025
Business

GH₵38m needed to operationalise Walewale Watermelon factory – Trade Minister

July 8, 2025
Featured

Mahama inaugurates committee to oversee UGMC handover to UG

July 8, 2025
Featured

Health Ministry pledges Catheterisation Lab for KATH following Doctor’s death

July 8, 2025
Business

Joy FM’s Edem Knight-Tay joins UMB in strategic communications role

July 8, 2025
Next Post

First Atlantic Bank brightens lives across Ghana

ADVERTISEMENT
Citinewsroom - Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • ChannelOne TV
  • Infographics

© 2024 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections

© 2024 All Rights Reserved Citi Newsroom.