Finance Minister Seth Tekper, will address the nation on Wednesday May 20, on government’s debt management initiatives.
[contextly_sidebar id=”swwOKPWQm3Femr8qDX77IyZUtAXMuXMq”]He is expected to also talk about the International Monetary Fund (IMF) bailout programme, its implications for Ghana as well as initiatives on compensation among others.
The programme will be held at the Kofi Annan Centre of Excellence in ICT.
This was contained in a press release.
Debt stock stands at GH¢88.2
According to figures from the Bank of Ghana, at the end of March 2015 the country’s current total public sector debt stock had risen to about GH¢88.2.
The figure represents 65.3 percent of the country’s Gross Domestic Product (GDP).
The central bank has further indicated that in 2014 alone, government borrowed up to GH¢24.1 billion adding that the country’s public debt stock by the close of 2014 rose from the GH¢51.9 billion in 2013 to GH¢76.1 billion.
There is already a huge debate on the effect of government’s continuous appetite for borrowing on the country’s economic woes.
In another development the IMF has released about $114 million to Ghana to help shore up its foreign exchange reserve.
The amount comprises the first tranche of the $940 million bailout programme between Ghana and the IMF.
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By: Godwin Akweiteh Allotey/citifmonline.com/Ghana
Follow @AlloteyGodwin