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Tag Archives: debt

Minority MPs want Ofori Atta summoned over Ghana’s debt stock

Some minority Members of Parliament want the Finance Minister, Ken Ofori-Atta summoned to provide the true state of the country’s debt stock. According to NDC MP for Ho Central, Benjamin Kpodo, failure to capture debts such as the ones incurred from the collapse of Capital and UT Banks, indicate that government has not accurately reported to the people of Ghana ...

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Ghana’s total debt stock hits GH¢138.8bn

New figures released by the Bank of Ghana (BoG) show that the country’s total debt stock has hit GH¢138.8 billion cedis as of November 2017, representing 68.7 percent of the country’s Gross Domestic Product (GDP). It shows a marginal decrease from September’s figure of 138.9 billion cedis compared to November’s figure of 138.8 billion cedis The figures, however, show that ...

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School Feeding Programme releases GHc 21m to caterers

The Ghana School Feeding Programme has released GHc 21 million to cater for part of the debt it owes caterers under the school feeding programme. The money, which was released last week, will cover the first seven days for the first term of the 2016/2017 academic year. Speaking to Citi News, the Public Relations Officer for Programme, Siba Alfa, also ...

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NDC Metro Mass debt reports a diversionary tactic – Kofi Adams

The National Organizer of the National Democratic Congress (NDC), Kofi Adams, believes reports of a debt owed the Metro Mass Transit Limited by the NDC are a distraction from pertinent issues of national interest. Commenting on the reports on Eyewitness News, Mr. Adams said: “it is a diversion from the blackout we are suffering, it is a diversion from confusion, ...

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We inherited a “heavily indebted energy sector” – Akufo-Addo

Ghana’s energy sector is currently in a “heavily indebted” state, President Akufo-Addo has said. Addressing Parliament in his first state of the nation address, the President noted that, the sector has enormous problems that must be addressed urgently. “We have inherited a heavily indebted energy sector with a net debt reaching $2.4bn as of December 2016. I have to point out ...

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NDC’s GHc7 bn expenditure was hidden from IMF – Majority reveals

The Majority in Parliament has expressed fears that purported GHc 7 billion unaccounted expenditure by the previous National Democratic Congress (NDC) administration, could compromise the International Monetary Fund’s (IMF) Extended Credit Facility (ECF) with Ghana. Addressing the press today [Thursday], the Chairman of Parliament’s Finance Committee, Dr. Assibey Yeboah, speaking on behalf of the Majority, warned that if figures were not reconciled ...

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Feeding grant debts for northern schools pile up

It is required of government to urgently make full payment of the accumulated feeding grants debt associated with Senior High Schools in the three regions of the north. Citi News’ incessant reports on the situation compelled government to pay one out of three terms debt owed the various schools. It is unknown when government will defray the total debt, and if this academic term ...

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Energy sector stuck in ‘merry go round debt’ – Agyarko

Ghana’s energy sector does not generate enough revenue to effectively deliver its mandate, Minister nominee for Energy and Petroleum, Boakye Agyarko has said. Speaking during his vetting at Parliament House on Monday, Mr. Boakye Agyarko said: “The energy sector we find now is seriously cash-strapped to the extent that we now live in a debt merry go round.” According to ...

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Mahama gov’t leaves GH¢23m Hajj debt

The Hajj Board under the former National Democratic Congress (NDC) administration has left behind a debt of Ghc23 million accrued from organizing last year’s pilgrimage to Mecca. Sources in government have told Citi News that, Flynas, formerly Nas Air, a domestic and international low-cost airline based in Saudi Arabia, is owed the highest amount out of the larger sum. Officials ...

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Ghana’s economy heavily in debt – Osafo Maafo

President Akufo-Addo’s Senior Minister nominee, Yaw Osafo-Maafo, has described Ghana’s economy as one that is heavily in debt. According to him, the situation can  be rescued by Nana Akufo-Addo’s government which will block all leakages of the country’s sources. He made the remark after he was nominated by the President at the Flagstaff House on Tuesday. He was among 12 others ...

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