Ghana not HIPC yet - BoG

Read Article

Comments (55)

This article is closed for comments.

Read Comments Comments (55)

PRINCE KWASI ADADE (OFIE P33) 10 years ago

DR. BAWUMIA ON NDC: ----
“You inherited an economy with the highest resources in the history of Ghana. Tax resources, four times higher than the NPP; Cocoa, three times higher; Gold, three times higher; you have borrowed ...
read full comment

DR. BAWUMIA ON NDC: ----
“You inherited an economy with the highest resources in the history of Ghana. Tax resources, four times higher than the NPP; Cocoa, three times higher; Gold, three times higher; you have borrowed more than all the governments put together and still we can’t feel a better economy, then you have failed. Mahama deserves F in economic management,” Bawumia asserted.

Speaking in an interview with Nsempawura on a Koforidua-based Eastern FM, the former Deputy Governor said for instance, the NDC government inherited a total debt of GHC 9.5 billion in 2009 and has increased it to GHC 90 billion within six years.

By the end of the year, Ghana’s debt will hit about US$ 40 billion looking at the current borrowing trend, he predicted.

With the sum of US$ 40 billion, he said, a good management team will allocate just US$ 2 billion to each region for development but the contrary is happening under the NDC government.

In economic management, every government with such an amount of money should be able to pay nurses, teachers, doctors, NHIS, and take care of all the social intervention programmes in Ghana, Dr. Bawumia analysed.

According to Dr. Mahamudu Bawumia, President Mahama and the NDC government can best be described as a “toxic mixture of incompetent and corruption which has exploded into ‘Wahala’ and Suffering”.

He feared for the future of the Ghanaian youth under the NDC administration, and challenged the youth to join the NPP to recapture power from the NDC in the 2016 General elections.
Zoobie-Zoobie 10 years ago

THey think they are the smartest around

THey think they are the smartest around
ATSU, HO 10 years ago

IT IS ONE THING BEING HIPC & ANOTHER THING ACCEPTING THAT YOU ARE. THE CATEGORISATION IS CLEAR & GH HAS PASSED THE THRESHOLD BUT OF COURSE WE ARE ADDRESSING THE UNEDUCATED SUPPORTERS SO WE CAN ALWAYS DENY THE OBVIOUS. GOVT GA ...
read full comment

IT IS ONE THING BEING HIPC & ANOTHER THING ACCEPTING THAT YOU ARE. THE CATEGORISATION IS CLEAR & GH HAS PASSED THE THRESHOLD BUT OF COURSE WE ARE ADDRESSING THE UNEDUCATED SUPPORTERS SO WE CAN ALWAYS DENY THE OBVIOUS. GOVT GAT TO SIT UP & BE TRUTHFUL! DO NOT PLAY TO THE GALERY
--++THE TRUTH 10 years ago

This guy from Bank of Ghana is just a joker.

This guy from Bank of Ghana is just a joker.
United Ghana 10 years ago

Well said

Well said
DR TRUTH 10 years ago

COME AGAIN GOVERNER, THERE IS NOTHING LIKE PRE-HIPC LEVEL, EITHER YOU ARE HIPC OR NOT.. IT IS LIKE SAYING PRE-RECESSION.. IT IS EITHER POSITIVE GROWTH OR NEGATIVE GROWTH.

COME AGAIN GOVERNER, THERE IS NOTHING LIKE PRE-HIPC LEVEL, EITHER YOU ARE HIPC OR NOT.. IT IS LIKE SAYING PRE-RECESSION.. IT IS EITHER POSITIVE GROWTH OR NEGATIVE GROWTH.
DR TRUTH 10 years ago

I WILL USE INDIVIDUAL ANALYSIS TO EXPLAIN. IF A PERSON FALLS INTO DEBT AND IS BANKRUPT AS SUCH STRUGGLES TO PAY HIS DEBTS, WHETHER HE CHOOSES TO GO TO COURT TO FILE OR NOT HE IS BANKRUPT. DA DIFF IS FILING BANKRUPTCY IN COURT ...
read full comment

I WILL USE INDIVIDUAL ANALYSIS TO EXPLAIN. IF A PERSON FALLS INTO DEBT AND IS BANKRUPT AS SUCH STRUGGLES TO PAY HIS DEBTS, WHETHER HE CHOOSES TO GO TO COURT TO FILE OR NOT HE IS BANKRUPT. DA DIFF IS FILING BANKRUPTCY IN COURT ONLY PROTECT U FROM YA DEBTORS CHASING U FOR THE MONEY. SAME AS WHEN U FILE HIPC YA DEBTORS WILL STOP CHASING U. SO PRACTICALLY WHETHER U FILE OR NOT U R BANKRUPT OR HIPC JUST THAT U DONT GET ANY PROTECTION WHEN U DONT FILE
KWAA 10 years ago

Issuing Bonds are not restructuring of debts,rather we are just pushing the payment to another time.Because the money we are receiving from the Bonds are all debts.I was expecting Government to reduce spending,by cutting down ...
read full comment

Issuing Bonds are not restructuring of debts,rather we are just pushing the payment to another time.Because the money we are receiving from the Bonds are all debts.I was expecting Government to reduce spending,by cutting down the luxury life of the huge government Appointees.But it seems they will rather incure more debt than to cut down their life style,posterity will never forgive this generation.
Horace 10 years ago

Joy fm has become foolish ...always reporting lies .

Joy fm has become foolish ...always reporting lies .
AMB 10 years ago

Yes but you are not increasing your debt stock. You are recalibrating it to prevent default and reduce the interest payments. This I smart way of managing debt

Yes but you are not increasing your debt stock. You are recalibrating it to prevent default and reduce the interest payments. This I smart way of managing debt

Humanity 10 years ago

Playing with words. Why is he in that position? shame Ghana

Playing with words. Why is he in that position? shame Ghana
Security Koncern 10 years ago

What difference does it make? We wait till you officially declare us HIPC? What do you take us for? The statistics are clear we are HIPC. If I am broke do I need to wait for an official declaration to that effect before I a ...
read full comment

What difference does it make? We wait till you officially declare us HIPC? What do you take us for? The statistics are clear we are HIPC. If I am broke do I need to wait for an official declaration to that effect before I admit I am broke; when in reality I just cannot make ends meet? Okay. Tell us when you will officially declare Ghana HIPC? Or that one too you have to spend tax payers money on a press conference? Leadership in Ghana is shockingly disappointing. What is happening.
Victor Hugo 10 years ago

Wampah and the ndc can only fool themselves. We don't need anyone to tell us we are doomed under John & Ibrahim Mahama! We all live here in Ghana and we can feel the economy so don't even waste your time trying to advise whet ...
read full comment

Wampah and the ndc can only fool themselves. We don't need anyone to tell us we are doomed under John & Ibrahim Mahama! We all live here in Ghana and we can feel the economy so don't even waste your time trying to advise whether we are there or not. It's a futile exercise, sir!
Ghanaba 10 years ago

Dr. Wampah don’t beat about the bush. The country is HIPC what is pre –HIPC level?
You are part of this problem. If I were you I would have resigned. We are at this stage because of your ill advice to the Gover ...
read full comment

Dr. Wampah don’t beat about the bush. The country is HIPC what is pre –HIPC level?
You are part of this problem. If I were you I would have resigned. We are at this stage because of your ill advice to the Government of Ghana. The Government’s way of borrowing is not helping the economy yet you sat down for it to go on and now you are saying Ghana is at pre-HIPC level. Come and tell Ghanaians where Ghana was in 2008 before NDC took over power?
Victor A. Young 10 years ago

Please thrown in the towel and stop the bullshit! What do you take Ghanaians for? When everything is as clear as daylight, the NDC alone would paint a totally different picture so our brothers and sisters who're less informed ...
read full comment

Please thrown in the towel and stop the bullshit! What do you take Ghanaians for? When everything is as clear as daylight, the NDC alone would paint a totally different picture so our brothers and sisters who're less informed will believe. It's very pathetic!
Akans Prophecies 10 years ago

Words words only words Promises only promises. Every failure have its consolation. The fact is why do we even evoke HIPC a this stage if this government is doing well. Mahama is a failure since day one. A disguse Trader, who ...
read full comment

Words words only words Promises only promises. Every failure have its consolation. The fact is why do we even evoke HIPC a this stage if this government is doing well. Mahama is a failure since day one. A disguse Trader, who robbed his way into our presidency to gamble and fail with our money. Ghana is in HIPC and this is not fair, especially a country that had every hope to improve the living standard of her citizens.
BOYZ ABR3 10 years ago

NONSENSE WHO TOLD YOU.WE WERE IN ABOUT A YEAR AGO.

NONSENSE WHO TOLD YOU.WE WERE IN ABOUT A YEAR AGO.
Xupreme 10 years ago

Mahama government is the worst of government ever in history.

Mahama government is the worst of government ever in history.
KOO 10 years ago

Dr Wampah is trying to fool all of us.Does anyone need to declare that he is sick or poor before it is accepted?.Your strength booth physically and financially will convince others that you are healthy.The whole world know th ...
read full comment

Dr Wampah is trying to fool all of us.Does anyone need to declare that he is sick or poor before it is accepted?.Your strength booth physically and financially will convince others that you are healthy.The whole world know that Ghana has reached the threshold of a HIPC economy and therefore Dr Wampah can sit in the comfort of his office and play his propaganda,the reality is being felt all over.
NANA AKWASI ANKYERA CLEMENT 10 years ago

We are sick and tired of Ndc oo and their fail promises

We are sick and tired of Ndc oo and their fail promises

SIMON 10 years ago

Learn how to change $18 to over $300,000 in less than 12 months. contact us via wassup only on +233547489948

Learn how to change $18 to over $300,000 in less than 12 months. contact us via wassup only on +233547489948
Nana,s 10 years ago

Thief where is the 500 million missing from Bank of Ghana

Thief where is the 500 million missing from Bank of Ghana
Maame Abena 10 years ago

EC must give Ghana a credible voters' register. Ghana must not allow a whopping close to 80,000 people from Togo to determine Ghana's president.
We need to vote Mahama and the NDC packing to save Ghana from corruption.
Woyo ...
read full comment

EC must give Ghana a credible voters' register. Ghana must not allow a whopping close to 80,000 people from Togo to determine Ghana's president.
We need to vote Mahama and the NDC packing to save Ghana from corruption.
Woyome,GYEEDA,SUBAH,SADA,NSS,VVIP and World Cup of Brazil were all asociated with corruption and to make matters even more worse our judiciary is infested also.
Corruption begins at the top and trickle down before every fabrick before you know is tainted. Mahama must bevoted out,he has corrupted Ghana and made Ghana once again an HIPC nation.
Owuraku Tema 10 years ago

Mahama and his incompetent NDC government should humbly bow out and go home to enjoy their stolen booty. Anytime in government, they send us into HIPC. INCOMPETENCE at its best.

Mahama and his incompetent NDC government should humbly bow out and go home to enjoy their stolen booty. Anytime in government, they send us into HIPC. INCOMPETENCE at its best.
Ninii 10 years ago

If it looks like a duck , walks like a duck and quacks like a duck , then it must be a duck ! Wampah give us a break !

If it looks like a duck , walks like a duck and quacks like a duck , then it must be a duck ! Wampah give us a break !
Mallam Tula. 10 years ago

Massa ; so will this Dr Wampah and these economic moroons at BOG understand that today gGhana is a highly indebited nation ;the simple truth is that we are using over 70% of our earnings to pay off interest alone ; the capita ...
read full comment

Massa ; so will this Dr Wampah and these economic moroons at BOG understand that today gGhana is a highly indebited nation ;the simple truth is that we are using over 70% of our earnings to pay off interest alone ; the capital have not even been discussed ; it is recycling of debt and they call it smart borrowing ; what people should understand is that Ghana as a nation is behaving like an affluent developed society but poor creative thinking nation ; we are just 'leap frogin' and we call it progress ; we do not produce or add value to anything and what we do is spend the little we have got but then this Dr Wampah has sunk his head into the sand like an Ostrich and instigates the stealing of monies from the Bank .
WAA LOOK 10 years ago

It's only Dr WAMPAH who can pronounce his mother dead...... So he can continue to pronounce her still alive EVEN THOUGH SHE WERE DEAD...... HAHAHAAAAAA HEHEHEEEEEEE HAHAHAAAAAA HEHEHEEEEEEE HAHAHAAAAAA HEHEHEEEEEEE....... STU ...
read full comment

It's only Dr WAMPAH who can pronounce his mother dead...... So he can continue to pronounce her still alive EVEN THOUGH SHE WERE DEAD...... HAHAHAAAAAA HEHEHEEEEEEE HAHAHAAAAAA HEHEHEEEEEEE HAHAHAAAAAA HEHEHEEEEEEE....... STUPIIIIID
cashflow 10 years ago

Hmm.it is not your problem but you were chosen mistakenly.well ndc will always send us to HIPC.Now the ndc party slaves can now see for themselves.

Hmm.it is not your problem but you were chosen mistakenly.well ndc will always send us to HIPC.Now the ndc party slaves can now see for themselves.
Kwasi 10 years ago

What does the Governor mean? Does he want all the coffers to be depleted before we call to be HIPIC? Even his statements are very contradictory. He must sit up for the coffers are empty.

What does the Governor mean? Does he want all the coffers to be depleted before we call to be HIPIC? Even his statements are very contradictory. He must sit up for the coffers are empty.
Abgovi Hohoe 10 years ago

Kwasi, it seems you dont understand this THIEF.He wants to tell us that they have not finished sharing the last Money in the coffers,he will inform us when it is finished--- They will use taxpayers Money to form a commitee,wh ...
read full comment

Kwasi, it seems you dont understand this THIEF.He wants to tell us that they have not finished sharing the last Money in the coffers,he will inform us when it is finished--- They will use taxpayers Money to form a commitee,who will organize a press conference to annouce that at LAST GHANA our belove Country is HIPIC forever.---Just wait and see.

kwaku 10 years ago

lies, GHANAIAN LEADERS HAVE NO SHAME IN LYING. GOD IS WATCHING

lies, GHANAIAN LEADERS HAVE NO SHAME IN LYING. GOD IS WATCHING
Kofi K, 10 years ago

When Olympics has been relegated to first division, there should be proclamation by Olympics that "we are in first division" before we will know that Olympics has Indeed been demoted. Wampah come again Governor is not Politri ...
read full comment

When Olympics has been relegated to first division, there should be proclamation by Olympics that "we are in first division" before we will know that Olympics has Indeed been demoted. Wampah come again Governor is not Politricks it is more Brains!!!
AKT New Yorki 10 years ago

What you guys are saying here does not make sense to me .When then president Kuffuor and NPP send the country to HIPIC all of you in this platform wear happy and shouting joy
Toilet facilities all have writtens on it like H ...
read full comment

What you guys are saying here does not make sense to me .When then president Kuffuor and NPP send the country to HIPIC all of you in this platform wear happy and shouting joy
Toilet facilities all have writtens on it like HIPIC benefits.If NPP send Ghana to HIPIC what is wrong if NDC send Ghana to HIPIC?????????After all we are waiting for NPP to put their house in order so that we can vote for them
Wonua 10 years ago

Sir, get your facts right! NPP did not take us to HIPIC. NPP only declared Ghana HIPIC after your beloved government lead by JJ ruled Ghana for 19 years. Kuffour worked hard to redeem us only for your money-property- grabbing ...
read full comment

Sir, get your facts right! NPP did not take us to HIPIC. NPP only declared Ghana HIPIC after your beloved government lead by JJ ruled Ghana for 19 years. Kuffour worked hard to redeem us only for your money-property- grabbing government without focus to take back to the status quo. Shame unto you all. The just will live by faith.
Heinz 10 years ago

its really terrible and sad that a person like you in NY cannot even put 2 and 2 together to extraplate fact and issue accurate comments. Why do you have to pretend and lie on such matters? What Wonua states is fact. NPP came ...
read full comment

its really terrible and sad that a person like you in NY cannot even put 2 and 2 together to extraplate fact and issue accurate comments. Why do you have to pretend and lie on such matters? What Wonua states is fact. NPP came in and fixed the debt that was left by NDC. Lo and Behold, up come the same ndc twats and put us back in the same position as before.
Golden Boy 10 years ago

I guise you are one of the Togoles in our voters register, you seems not to know the history of Governance in Ghana, NDC one led by that murderer JJ Rawlings send Ghana to HIPC, it was only kept in our books by the Kufuor adm ...
read full comment

I guise you are one of the Togoles in our voters register, you seems not to know the history of Governance in Ghana, NDC one led by that murderer JJ Rawlings send Ghana to HIPC, it was only kept in our books by the Kufuor administration
ana 10 years ago

Foolish government ever God is watching u all ur mothers

Foolish government ever God is watching u all ur mothers
Kwadwo Baah 10 years ago

What did Baah Wiredu die for? Working so hard to help the economy only for NDC to send us back to HIPC. Baah Wiredu may your soul rest in peace.

What did Baah Wiredu die for? Working so hard to help the economy only for NDC to send us back to HIPC. Baah Wiredu may your soul rest in peace.
Joe Turkey 10 years ago

HIPC is a financial condition of the country, very well defined by the IMF and the World Bank. HIPC is not a voluntary declaration by any nation. Koklovi

HIPC is a financial condition of the country, very well defined by the IMF and the World Bank. HIPC is not a voluntary declaration by any nation. Koklovi
Economic Guru 10 years ago

Then why did President Kufour declare HIPC even with opposite from Osafo Marfo and many more NPP officials at that time? We didn't then need a debate or further discussions if HIPC was automatic by threshold of your debt to ...
read full comment

Then why did President Kufour declare HIPC even with opposite from Osafo Marfo and many more NPP officials at that time? We didn't then need a debate or further discussions if HIPC was automatic by threshold of your debt to GDP ratio. It's your inability to pay or service your loans that is a determination by the country not by IMF or World Bank. Ghana hasn't given that indication because our loans have been properly invested in self paying projects including Atuabo Gas Project. Smart strategies are in place include Euro bond to service our loans. Uneducated and low IQ people don't understand this economics but wants to comment.
James Adom Tamale 10 years ago

What is this man saying does a mad person put a tag on him saying am mad or his ways and doing shows that the person is mad.What a weak mind and shameful person.

What is this man saying does a mad person put a tag on him saying am mad or his ways and doing shows that the person is mad.What a weak mind and shameful person.
Good man 10 years ago

Governor,u are a shame to ur profession.only chop chop u no moron not only u but every body in the government fools.bear everyday hw can u manage the country

Governor,u are a shame to ur profession.only chop chop u no moron not only u but every body in the government fools.bear everyday hw can u manage the country
ghana. 10 years ago

Why did this ndc government always throwing dust into Ghanaian eyes? The country is in hipc now and you are talking rubbish.

Why did this ndc government always throwing dust into Ghanaian eyes? The country is in hipc now and you are talking rubbish.
Yellow man 10 years ago

Hahahaha so Dr. Bawumia was right all along.After giving the buffoons in NDC a heads up about the trajectory of the economy leading us to our doom,they kept the status quo and now we find ourselves in this economic quagmire.S ...
read full comment

Hahahaha so Dr. Bawumia was right all along.After giving the buffoons in NDC a heads up about the trajectory of the economy leading us to our doom,they kept the status quo and now we find ourselves in this economic quagmire.Sometimes I wonder why people voted at all for this party?Ghanaians must remember ghana belongs to all of us and not a group of sick,unscrupulous,undesirables,non entities,unapologetic people in power.When the titanic sunk it did not differentiate between the poor,rich,young,old,strong,weak,bright,illiterate.It went down with only few saved.This analogy applies to what is going on in ghana,we all sinking in this common boat.Most Asian countries who were not even in par with ghana as far as human resources and natural resources are concerned are now laughing at our inability to make use of what the good Lord has given us.We have gold,diamond,manganese,cocoa,bauxite and now oil.Aba ghana what do we want again before we rise up to the occasion?
naayale woyome 10 years ago

Are you waiting for the country to go HIPC? stupid idiot.

Are you waiting for the country to go HIPC? stupid idiot.
Brobbsnet 10 years ago

Wampah, Just Listen to your self. The Conditions for HIPC has already been created by Mahama but we are not calling it HIPC. This is DELUSIONAL and SICK.! If Mahama wins 2016 elections,Ghana will be BURIED#!.

Wampah, Just Listen to your self. The Conditions for HIPC has already been created by Mahama but we are not calling it HIPC. This is DELUSIONAL and SICK.! If Mahama wins 2016 elections,Ghana will be BURIED#!.
Ugly akufo addo 10 years ago

They are now graded like twi stations , always giving unacurate formation

They are now graded like twi stations , always giving unacurate formation
Heinz 10 years ago

why has IMF got Ghana listed as HIPC since September 2014? Just search for IMF Hipc countries. There are 2 reports of interest. One is the list for September 2014 in which Ghana is already HIPC. The 2nd is that report which s ...
read full comment

why has IMF got Ghana listed as HIPC since September 2014? Just search for IMF Hipc countries. There are 2 reports of interest. One is the list for September 2014 in which Ghana is already HIPC. The 2nd is that report which shows the list of countries that have qualified for, are eligible or potentially eligible and may wish to receive HIPC initiative assistance (as of April 2015.

Fact is we cannot get the debt written off even if we tried to declare hipc because we have to fulfill our part of the deal. This is why there are so many changes going on in the country.
ROGUE LAWYER 10 years ago

devils,

devils,
Bill 10 years ago

Dr KOFI WOAMPAH GOVERNOR BANK OF GHANA IF YOU AND YOUR SENIOR BROTHER MAHAMA AND YOUR SISTERS OF NDC YOU TELL US YOUR MOTHER IS SLEEP WHILST SHE IS INFACT DEAD IN HER BED ROOM AND YOU COME AND TELL US THE PEOPLE OF GHANA THAT ...
read full comment

Dr KOFI WOAMPAH GOVERNOR BANK OF GHANA IF YOU AND YOUR SENIOR BROTHER MAHAMA AND YOUR SISTERS OF NDC YOU TELL US YOUR MOTHER IS SLEEP WHILST SHE IS INFACT DEAD IN HER BED ROOM AND YOU COME AND TELL US THE PEOPLE OF GHANA THAT SHE IS ASLEEP , THEN SHE WILL DECOMPOSE AND DISGRACE WILL BE YOUR PORTION BECAUSE WE WILL BE UNABLE TO GIVE HER A FITTING BURIER. AMEN.
Bill 10 years ago

Dr Kofi Woampah Governor of Bank of Ghana: if you and your senior brother John Mahama and your sisters from the same mother(The NDC) announce to us (The People of Ghana) that your MOTHER is asleep whilst actually she is DEAD ...
read full comment

Dr Kofi Woampah Governor of Bank of Ghana: if you and your senior brother John Mahama and your sisters from the same mother(The NDC) announce to us (The People of Ghana) that your MOTHER is asleep whilst actually she is DEAD , she will certainly decompose in her room and disgrace will befall you and your family because we will not be available to mourn with you. "TANKANSLE" will come and bury her in polythene bags. Thank You
Obiba 10 years ago

Dumsor + HIPC = NDC. Do ghanaians want more of this. Think well before you vote. Is there anything lower than HIPC, we shud be ready to go there

Dumsor + HIPC = NDC. Do ghanaians want more of this. Think well before you vote. Is there anything lower than HIPC, we shud be ready to go there
SON OF MAN 10 years ago

THIS IS BUSH TALK.
GHANA IS MORE THAN A HIPIC COUNTRY.
STOP THROWING DUST INTO PEOPLES' EYES.
YOUR DAYS ARE NUMBERED!

THIS IS BUSH TALK.
GHANA IS MORE THAN A HIPIC COUNTRY.
STOP THROWING DUST INTO PEOPLES' EYES.
YOUR DAYS ARE NUMBERED!
walansa 10 years ago

Ghana is always HIPC

Ghana is always HIPC
ASIEDU NKETIAH 10 years ago

Hennry Wampah need to shut his Beef mouth up. Another stupid man with mo idea for Ghana the Bank manager who issue cheque on Saturday for FA a big fool Wampah.

Hennry Wampah need to shut his Beef mouth up. Another stupid man with mo idea for Ghana the Bank manager who issue cheque on Saturday for FA a big fool Wampah.

55 Comments

Welcome,

SIGN IN

Welcome,

RESET PASSWORD

Hello,

Terms and conditions

REGISTER

Ghana not HIPC yet - BoG

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (55)

Read Comments Comments (55)