Ghana Suspends Payment of Debts

12/20/2022 23

Ghana has suspended payments on most of its external debt as the country struggles to plug its deep balance of payments deficit.

The country’s finance ministry said it will not service debts including its Eurobonds, commercial loans and most bilateral loans, describing the decision an interim emergency measure.

The suspension of debt payments reflects the perilous state of the economy, which had led the government to reach a $3bn staff-level agreement with the International Monetary Fund.

The IMF has said a comprehensive debt restructuring is a condition of its support.

Written by: Helen Obih

Rate it

News

Senate Confirms Onochie as NDDC Board Chairman

The Senate has confirmed the appointment of Lauretta Onochie, as the substantive Chairman of the Niger Delta Development Commission Board. At plenary on Tuesday, the Senate confirmed 12 others except two who did not attend the screening conducted last Friday at the National Assembly complex. President Muhammadu Buhari had asked the Senate to confirm the appointment of his Special Assistant on New Media, Onochie as the substantive chairman of the […]

12/20/2022 20