Monday, June 5, 2023
Ghana News Online
Advertisement
  • News
    NDC primaries: No tie in Ketu North, Edem Agbana declared the winner

    NDC primaries: No tie in Ketu North, Edem Agbana declared the winner

    Don’t Politicize the Civil Service

    Don’t Politicize the Civil Service

    The Magic of improved sex life

    The Magic of improved sex life

    So It’s a New Year – Pastor Alao-Caesar

    So It’s a New Year – Pastor Alao-Caesar

    Man arrested by National Security for allegedly leaking WASSCE papers

    Man arrested by National Security for allegedly leaking WASSCE papers

    Hushpuppi – the Instagram influencer and international fraudster

    Hushpuppi – the Instagram influencer and international fraudster

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Politics
  • National
  • Business
  • World
  • Opinion
  • Tech
  • Science
  • Lifestyle
  • Entertainment
  • Health
  • Travel
  • News
    NDC primaries: No tie in Ketu North, Edem Agbana declared the winner

    NDC primaries: No tie in Ketu North, Edem Agbana declared the winner

    Don’t Politicize the Civil Service

    Don’t Politicize the Civil Service

    The Magic of improved sex life

    The Magic of improved sex life

    So It’s a New Year – Pastor Alao-Caesar

    So It’s a New Year – Pastor Alao-Caesar

    Man arrested by National Security for allegedly leaking WASSCE papers

    Man arrested by National Security for allegedly leaking WASSCE papers

    Hushpuppi – the Instagram influencer and international fraudster

    Hushpuppi – the Instagram influencer and international fraudster

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Politics
  • National
  • Business
  • World
  • Opinion
  • Tech
  • Science
  • Lifestyle
  • Entertainment
  • Health
  • Travel
No Result
View All Result
Morning News
No Result
View All Result
Home Business

New IMF report says Ghana’s public debt unsustainable

by Samuel Birikorang
October 9, 2014
in Business, Featured
0
none
0
SHARES
14
VIEWS
Share on FacebookShare on Twitter

According to a new International Monetary Fund (IMF) report, Ghana’s public debt would hit a little over 70% of the country’s total economic output by 2015, prompting concerns from the Bretton-Woods institution.

The IMF maintains when a country’s debt exceeds 60% of its total economic value, economic stability becomes threatened.

READ ALSO

Unfortunate Decision by Ghana’s Supreme Court: Stifling Progress towards Regulated Cannabis Legalisation in Ghana

Surviving financially in a collapsing economy like Nigeria

The report, ‘Fiscal Monitor’ outlines how governments around the world spend and mobilise revenue.

Joy News’ George Wiafe in Washington reports, the document also reveals the IMF has some serious concerns with some economic data government has put out as part of a process to secure assistance from the Washington-based lender.

“According to the report, Ghana’s public debt has even crossed the 60% mark level which will make it difficult for government to service these debts on time”, George reports.

The IMF also revealed that its assessment of the country’s actual public debt was not consistent with figures put out by the Bank of Ghana.

Bank of Ghana puts the figure at 55% –representing 58 billion Ghana cedis.

The IMF says its figures are a little over 60%.

Analysts say IMF’s revelation is an indication that the country’s debt has reached levels that can be likened to that of a Highly Indebted Poor Country (HIPC).

Deputy Head of Fiscal Affairs at the IMF, Sanjay Gupta says the development calls for tough measures by government to address the situation.

Some of these measures, according to experts, could bring untold hardships to Ghanaians.

Following Ghana’s request for IMF bailout, initial discussions between the government and the IMF have started. Negotiators from Ghana are currently in Washington to continue the process

Tags: businessIMF

Related Posts

Unfortunate Decision by Ghana’s Supreme Court: Stifling Progress towards Regulated Cannabis Legalisation in Ghana
Business

Unfortunate Decision by Ghana’s Supreme Court: Stifling Progress towards Regulated Cannabis Legalisation in Ghana

May 28, 2023
Surviving financially in a collapsing economy like Nigeria
Business

Surviving financially in a collapsing economy like Nigeria

May 17, 2023
NDC primaries:Edem Agbana declared the legitimate Winner
Featured

NDC primaries:Edem Agbana declared the legitimate Winner

May 16, 2023
NDC primaries: No tie in Ketu North, Edem Agbana declared the winner
Featured

NDC primaries: No tie in Ketu North, Edem Agbana declared the winner

May 14, 2023
Why do People cheat in relationships
Featured

Why do People cheat in relationships

May 6, 2023
Ten reasons why you shouldn’t deny your partner sex
Featured

Ten reasons why you shouldn’t deny your partner sex

May 5, 2023
Next Post
none

I will recommend Ataa Ayi for presidential pardon if .............- Mark Woyongo

© 2020 GHNewsOnline.

No Result
View All Result
  • Homepages
    • Home Page 1
    • Home Page 2
  • News
  • Politics
  • National
  • Business
  • World
  • Entertainment
  • Fashion
  • Food
  • Health
  • Lifestyle
  • Opinion
  • Science
  • Tech
  • Travel

© 2020 GHNewsOnline.