[ad_1] Banks operating in Ghana wrote-off GH¢1.39 billion as bad debt in the 10-months of 2025. This was 56.7% more than the 1.0% increase in October 2024. According to the Domestic Money Banks Income Statement, the total provision were made up of loan losses, depreciation & others. In October 2024, the government wrote-off GH¢3.22 billion….
[ad_1] Dr Mohammed Amin Adam, the Finance Minister, has disclosed that the central government’s provisional total debt stood at GH¢742 billion (US$50.9 billion) as of June this year. This figure represents 70.6 per cent of the Gross Domestic Product (GDP). While delivering the 2024 mid-year budget review in parliament in Accra on Tuesday, Dr Adam…
[ad_1] John Dramani Mahama, the flagbearer of the National Democratic Congress, (NDC) has expressed appreciation to the South Korean government for its decision to forgive Ghana’s debt, noting that it will help support Ghana’s debt restructuring efforts during these challenging economic times. This comes after the Ambassador of South Korea to Ghana, Park Kyongsig, paid…
[ad_1] Ghana’s public debt increased to GH₵610 billion as at December 2023. Comparatively, this is a 26. 85 percent rise from the GH₵446.3 billion recorded in December 2022. The new debt figure represents 72.5 % of Gross Domestic Product. According to the Bank of Ghana’s Summary of Economic and Financial Data for March 2024, the…
[ad_1] The National Taskforce of the Electricity Company of Ghana is set to disconnect 91 hospitals from the national grid due to outstanding debts owed to the power distributor. The health facilities, spread across the country, collectively owe a substantial amount of GHc261 million. According to information obtained by Citi News from the ECG, numerous…
[ad_1] The Communications Director of the Ghana Football Association (GFA), Henry Asante-Twum has revealed that Ghana’s 2022 World Cup prize dropped from $9 million to $7.9 million because the football governing body owed FIFA over $800,000. The debt ranges from flight and accommodation of officials, Ghana U-17 and U-20 Women’s national teams participation in FIFA…
[ad_1] The Ghana Gas Senior Staff Association (GGSSA) has raised concerns about the Electricity Company of Ghana’s (ECG) overdue debt to the company, urging the government to take immediate action. This outstanding payment, the association warns, poses a significant threat to the stability and operations of Ghana Gas, a vital pillar of the nation’s energy…
[ad_1] The International Monetary Fund (IMF) is a key player in global finance, offering monetary assistance to governments suffering economic difficulties. However, these loans from the IMF can have deep and varied effects on their economy. These effects are felt in some parts of Africa, particularly in regions where the debt is unsustainable. Typically as…
[ad_1] Introduction By the end of the 3rd Quarter of 2021, Ghana’s fiscal vulnerability had been evident to the market, resulting in a loss of market access largely consistent with the country’s struggle to manage its public debt since independence. In all of Ghana’s programme engagements with the International Monetary Fund (IMF), debt unsustainability has…
[ad_1] Sunon Asogli Power (Ghana) Limited, an independent power producer, has indefinitely shut down its 560MW plant, thus suspending its operations with immediate effect. The company says the decision is because of the government’s delay in honoring its financial obligations to the management of the power plant. The company, in a letter addressed to ECG…
