Ghana now spends less than 20% in revenue on servicing debt - Dr Ato Forson reveals

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Truth Table 2 days ago

And this is the testimony: God has given us eternal life, and this life is in his Son. (1 John 5:11) , ,
.... ,,,,

And this is the testimony: God has given us eternal life, and this life is in his Son. (1 John 5:11) , ,
.... ,,,,
Francis Mccarthy 2 days ago

UNBELIEVABLE. THIS IS FINANCIAL DISCIPLINE INDEED. 30% DIFFERENCE WITHIN 3YEARS. GHANAINS SHOULD BACK THIS GVT. POSITIVELY TO SUCCEED. THANKS ATO FORSON, THIS IS “A PATRIOTIC GOVERNMENT “.

UNBELIEVABLE. THIS IS FINANCIAL DISCIPLINE INDEED. 30% DIFFERENCE WITHIN 3YEARS. GHANAINS SHOULD BACK THIS GVT. POSITIVELY TO SUCCEED. THANKS ATO FORSON, THIS IS “A PATRIOTIC GOVERNMENT “.
KB 2 days ago

Just brilliant.I have always said if we are able to reduce our debt servicing to atleast 15% of total revenue and use that fiscal space to invest in infrastructure and other Capex. Ghana will become upper middle country in no ...
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Just brilliant.I have always said if we are able to reduce our debt servicing to atleast 15% of total revenue and use that fiscal space to invest in infrastructure and other Capex. Ghana will become upper middle country in no time.
Owusey 2 days ago

Who did the debt restructuring? Ken Ofori Atta
the hard decissions are now paying off

Who did the debt restructuring? Ken Ofori Atta
the hard decissions are now paying off
Visa Agency 2 days ago

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Sika Mp3 Dede 2 days ago

GHANA
Debt treatment - June 11, 2024
Supporting agreements with the international institutions
IMF programme supported by the arrangements under the Extended Credit Facility (ECF) approved on May 17, 2023, in an amount eq ...
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GHANA
Debt treatment - June 11, 2024
Supporting agreements with the international institutions
IMF programme supported by the arrangements under the Extended Credit Facility (ECF) approved on May 17, 2023, in an amount equivalent to SDR 2.242 billion (about $3 billion)

Total external debt of Ghana
$30.6 billion as of 31 December 2022, including $15.9 billion to external private creditors (51% of the total external debt), $8.1 billion to multilateral creditors (26%), $5.1 billion to official bilateral creditors (16%), mostly due to Official Creditors Committee (OCC) members and $1.6 billion to non-resident holders of domestic debt (5%).

Accorded Treatment
For the OCC, a flow treatment is applied, with the total debt service due during the years of the IMF programme period (from January 1, 2023 to December 31, 2026) rescheduled through maturity extension and reduced interest rate. The debt service due from December 20 to December 31, 2022 is also included in the flow debt treatment.

MoU implementation table
GHANA
(MoU Agreement on June 11, 2024)
- since 2 years and 1 month -
Creditor Bilateral agreement signed on
12 months
France July 2025
China August 2025
Finland August 2025
United Kingdom September 2025
Spain October 2025
Germany November 2025
Czech Republic December 2025
Republic of Korea February 2026
Belgium March 2026*
South Africa March 2026*
India March 2026
Denmark April 2026
United States of America May 2026
Switzerland June 2026
Italy June 2026
Israel July 2026
Austria Ongoing
Japan Ongoing
Norway Ongoing
Netherlands Ongoing
Canada Ongoing
Brazil Ongoing
Saudi Arabia Ongoing
Sweden Ongoing
Türkiye Ongoing

The "ongoing" category means that the process is currently underway and depends on the stakeholders involved in both creditor and debtor countries, as well as on national legal frameworks.
*Not all public bodies (the government, development agencies, ECA) have finalized their agreement.
Belgium : bilateral agreement signed by the Ministry of Finance.

Ghana Repayment Profile
Maturities falling due in a specific year N are to form a debt stock which will accrue an annual restructuring interest to be capitalized until repayment in years N+16 and N+17. The weighted average maturity was extended from 2029 to 2038. The level of the restructuring interest rate will depend on the contractual interest rate of each claim.

Specific provisions
New disbursements: disbursements made by the OCC on or after January 1, 2023 are not included in the scope of the treatment

Comparability of treatment provision
In order to secure comparable treatment of its debt due to all its other external creditors in the scope of the debt treatment, the Ghanaian Government commits to promptly seek from such creditors a treatment on terms at least as favourable to Ghana as those on which it reached consensus with the OCC. The Ghanaian Government commits to, on a quarterly basis, inform the OCC, through its Secretariat and Chairs, on the progress of negotiations with all other external creditors in the scope of the debt treatment.

Members of the Official Creditors Committee

- OCC co-chairs: CHINA, FRANCE

- OCC members:

AUSTRIA
BELGIUM
BRAZIL
CANADA
CHINA
CZECH REPUBLIC
DENMARK
FINLAND
FRANCE
GERMANY
INDIA
ISRAEL
ITALY
JAPAN
NETHERLANDS
NORWAY
REPUBLIC OF KOREA
SAUDI ARABIA
SOUTH AFRICA
SPAIN
SWEDEN
SWITZERLAND
TURKIYE
UNITED KINGDOM
UNITED STATES OF AMERICA
Visa Agency 1 day ago

A TRUSTED, HONEST, SINCERE traveL agency IS in Lagos Nigeria is recruiting Ghanaians and Nigerians for job openings in Canada, aLL the traveL Logistics wiLL be taken care of by the agency for aLL appLicants on the condition t ...
read full comment

A TRUSTED, HONEST, SINCERE traveL agency IS in Lagos Nigeria is recruiting Ghanaians and Nigerians for job openings in Canada, aLL the traveL Logistics wiLL be taken care of by the agency for aLL appLicants on the condition that the appLicants wiLL start paying back once they start working in Canada, if you know peopLe that might be interested in Living and working in Canada, teLL them to contact the traveL agency on WhatsApp via ☎️+2348082712224 ☎️......... Ww
Northern Boy 1 day ago

This team needs at least 25 years in power to solidify these so as to make it a lot harder for any government to retard our progress as a nation

This team needs at least 25 years in power to solidify these so as to make it a lot harder for any government to retard our progress as a nation
Kojos 1 day ago

And still borrowed to paid workers salaries. Lies.

And still borrowed to paid workers salaries. Lies.
Kwansima Matigbe 29 minutes ago

You see oooo. Where’s all the money after such “microeconomic miracles?” My bag is still empty, the prices of feul, products and other services are still unbearably high. As for me I’m struggling but can’t speak for ...
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You see oooo. Where’s all the money after such “microeconomic miracles?” My bag is still empty, the prices of feul, products and other services are still unbearably high. As for me I’m struggling but can’t speak for others.

SA 1 day ago

Excellent, well done, soon we will get it down to 10 percent, The slaves are setting themselves free at every cost, they are working to feed themselves like their slave masters, no more interested in sugar poison, loans and d ...
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Excellent, well done, soon we will get it down to 10 percent, The slaves are setting themselves free at every cost, they are working to feed themselves like their slave masters, no more interested in sugar poison, loans and debts, easy monies.

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Ghana now spends less than 20% in revenue on servicing debt - Dr Ato Forson reveals

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