• Home
  • World
  • Politics
  • Business
  • Science
  • Tech
  • Entertainment
  • Lifestyle
Monday, June 2, 2025
No Result
View All Result
NEWSLETTER
The Overseers - Ghana No.1 News
  • Home
  • World
  • Politics
  • Business
  • Science
  • Tech
    Sam George demands retraction and apology over “gifted lexus” allegation

    Data cost to reduce by end of year — Sam George

    Digital equality key to Ghana’s development – Sam George

    Digital equality key to Ghana’s development – Sam George

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Dr Bawumia Outlines Plans for a Robust Fisheries Industry

    Dr Bawumia Outlines Plans for a Robust Fisheries Industry

    Uncharted: The Lost Legacy’s Latest Demo Shows A Treasure-Hunting Duo In Sync

    Using A Mind Reading Device, ‘locked-in’ Patients Told Researchers They’re Happy

    Trending Tags

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Man Utd close to signing Wolves’ Cunha

    Man Utd close to signing Wolves’ Cunha

    Pornhub and three other porn sites face EU child safety probe

    Pornhub and three other porn sites face EU child safety probe

    Otto Addo unveils 23-man Squad for 2025 Unity Cup

    Otto Addo unveils 23-man Squad for 2025 Unity Cup

    Akrobeto survives road accident near Konongo

    Akrobeto survives road accident near Konongo

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Lyrical Joe disappointed after losing TGMA rap performance award

    Lyrical Joe disappointed after losing TGMA rap performance award

    Barcelona beaten at home despite brilliant goals from Yamal, Fermin

    Barcelona beaten at home despite brilliant goals from Yamal, Fermin

    Inter Milan denied top spot after Pedro penalty in draw with Lazio

    Inter Milan denied top spot after Pedro penalty in draw with Lazio

    Dada KD was doing well before his demise – Manager

    Dada KD was doing well before his demise – Manager

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Operational hours at Kumasi, Tamale Airports extended

    Operational hours at Kumasi, Tamale Airports extended

    2025 Hajj: Two dead, five persons repatriated

    2025 Hajj: Two dead, five persons repatriated

    Rotational Nurses and Midwives threatens nationwide strike effective June 2

    Rotational Nurses and Midwives threatens nationwide strike effective June 2

    Ghana slashes visa application to 5 working days

    Ghana slashes visa application to 5 working days

    Railway operations unsustainable without private sector – Railway Authority Boss

    Railway operations unsustainable without private sector – Railway Authority Boss

    Joe Biden diagnosed with ‘aggressive’ prostate cancer

    Joe Biden diagnosed with ‘aggressive’ prostate cancer

    Ghana Confirms Two More Mpox Cases, Total Now Four

    Ghana Confirms Two More Mpox Cases, Total Now Four

    Ministry of Health opens recruitment for Medical, Dental Officers

    Ministry of Health opens recruitment for Medical, Dental Officers

    FDA to Appeal Tobinco Ruling, Clarifies CEO Dr. Delese Darko Not Responsible for 2013 Actions

    FDA to Appeal Tobinco Ruling, Clarifies CEO Dr. Delese Darko Not Responsible for 2013 Actions

    Ghana Kidney Association praises free dialysis initiative, urges permanent support

    Ghana Kidney Association praises free dialysis initiative, urges permanent support

    Trending Tags

  • Home
  • World
  • Politics
  • Business
  • Science
  • Tech
    Sam George demands retraction and apology over “gifted lexus” allegation

    Data cost to reduce by end of year — Sam George

    Digital equality key to Ghana’s development – Sam George

    Digital equality key to Ghana’s development – Sam George

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Dr Bawumia Outlines Plans for a Robust Fisheries Industry

    Dr Bawumia Outlines Plans for a Robust Fisheries Industry

    Uncharted: The Lost Legacy’s Latest Demo Shows A Treasure-Hunting Duo In Sync

    Using A Mind Reading Device, ‘locked-in’ Patients Told Researchers They’re Happy

    Trending Tags

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Man Utd close to signing Wolves’ Cunha

    Man Utd close to signing Wolves’ Cunha

    Pornhub and three other porn sites face EU child safety probe

    Pornhub and three other porn sites face EU child safety probe

    Otto Addo unveils 23-man Squad for 2025 Unity Cup

    Otto Addo unveils 23-man Squad for 2025 Unity Cup

    Akrobeto survives road accident near Konongo

    Akrobeto survives road accident near Konongo

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Lyrical Joe disappointed after losing TGMA rap performance award

    Lyrical Joe disappointed after losing TGMA rap performance award

    Barcelona beaten at home despite brilliant goals from Yamal, Fermin

    Barcelona beaten at home despite brilliant goals from Yamal, Fermin

    Inter Milan denied top spot after Pedro penalty in draw with Lazio

    Inter Milan denied top spot after Pedro penalty in draw with Lazio

    Dada KD was doing well before his demise – Manager

    Dada KD was doing well before his demise – Manager

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Operational hours at Kumasi, Tamale Airports extended

    Operational hours at Kumasi, Tamale Airports extended

    2025 Hajj: Two dead, five persons repatriated

    2025 Hajj: Two dead, five persons repatriated

    Rotational Nurses and Midwives threatens nationwide strike effective June 2

    Rotational Nurses and Midwives threatens nationwide strike effective June 2

    Ghana slashes visa application to 5 working days

    Ghana slashes visa application to 5 working days

    Railway operations unsustainable without private sector – Railway Authority Boss

    Railway operations unsustainable without private sector – Railway Authority Boss

    Joe Biden diagnosed with ‘aggressive’ prostate cancer

    Joe Biden diagnosed with ‘aggressive’ prostate cancer

    Ghana Confirms Two More Mpox Cases, Total Now Four

    Ghana Confirms Two More Mpox Cases, Total Now Four

    Ministry of Health opens recruitment for Medical, Dental Officers

    Ministry of Health opens recruitment for Medical, Dental Officers

    FDA to Appeal Tobinco Ruling, Clarifies CEO Dr. Delese Darko Not Responsible for 2013 Actions

    FDA to Appeal Tobinco Ruling, Clarifies CEO Dr. Delese Darko Not Responsible for 2013 Actions

    Ghana Kidney Association praises free dialysis initiative, urges permanent support

    Ghana Kidney Association praises free dialysis initiative, urges permanent support

    Trending Tags

No Result
View All Result
The Overseers - Ghana No.1 News
No Result
View All Result
Home Business

Finance Minister announces official end to Ghana’s debt restructuring

by Mawuli Innocent
June 24, 2024
in Business
0
Finance Minister announces official end to Ghana’s debt restructuring
0
SHARES
12
VIEWS
Share on FacebookShare on Twitter

Finance Minister Dr Mohammed Amin Adam has announced the completion of Ghana’s debt restructuring programme with its official creditors.
According to the Member of Parliament for Karaga, the government has successfully restructured its debt of 5.1 billion dollars with these creditors, in addition to concluding the restructuring of 13.1 billion dollars with Eurobond holders.

Addressing attendees at a UK Town Hall meeting, Dr Amin Adam highlighted that these efforts have resulted in savings of 8 billion dollars for the country.
“Last two weeks, we concluded negotiations with the official creditors, and we have agreed to restructure 5.1 billion dollars. I am telling you that the government is good in negotiations and of this amount, we are going to make savings of $2 billion.”

As I speak to you, tomorrow morning, there will be an announcement that we have also concluded our negotiations with the Eurobond Holders of $3.1 billion, and ladies and gentlemen, when we announce it, please read the details. We have negotiated a good deal for Ghana and that is $8 billion,” he said.

“Ideally, government should not be held responsible for the investment decisions of individuals, but this government is so caring.

“Mistakes were made and people were not well-informed, and they didn’t know who to consult to be advised, but we also know that the people who are affected are suffering, and we have heard that some people have died and others had to commit suicide.”
“This government is so caring that in the first place, we granted some bailout to all the affected and I want to tell you again that the President has directed that we do another bailout. So between now and October, we will release ¢1.5 billion to the affected people.”

The government recently secured delayed payment on interests and postponement on the maturity date in a restructured debt deal with bilateral creditors.

To meet its IMF target, the $77 billion economy needs to reduce debt to 55% of gross domestic product by 2028, compared with a burden of 109% projected for the year before Ghana began restructuring.
The current bondholder agreement would leave debt slightly above that target.

Ghana’s economy fared better than the IMF expected, expanding 2.9% in 2023 compared to an initial IMF target of 1.5%. That means a revised DSA would accommodate the agreement with bondholders, Adam said.

Ghana began working to revamp its debt a little over a year ago as part of a deal with the International Monetary Fund, reaching an agreement in principle with bilateral creditors in January to rework $5.4 billion of obligations under the Group of 20 Common Framework for Debt Treatment.
That agreement set the tone for the restructuring of Eurobond debt.

Source: Myjoyonline
Mawuli Innocent

Mawuli Innocent

Related Posts

Fitch revises end-year cedi projection to GH₵13 per dollar

Fitch revises end-year cedi projection to GH₵13 per dollar

by Selasi Agbagba
June 2, 2025
0

Fitch Solutions has adjusted its end-2025 forecast for the Ghanaian cedi, revising it to GHS13.0/USD, from an earlier estimate of...

Operational hours at Kumasi, Tamale Airports extended

Operational hours at Kumasi, Tamale Airports extended

by Hamdia Mohammed
June 2, 2025
0

The Ghana Civil Aviation Authority (GCAA), in collaboration with the Ghana Airports Company Limited (GACL), has announced an extension of...

Bel Beverages reduces prices as cedi appreciates

Bel Beverages reduces prices as cedi appreciates

by Hamdia Mohammed
June 1, 2025
0

Producers of the Bel Beverages, BlowChem Industries Limited, has announced reduction in prices across most of its products due to...

Ghana-Germany trade hits €180.9m in first quarter of 2025

Ghana-Germany trade hits €180.9m in first quarter of 2025

by Hamdia Mohammed
May 30, 2025
0

Ghana's trade volume with Germany reached €180,923,000 in the first quarter of 2025, Mr Daniel Krull, German Ambassador to Ghana,...

Past cedi depreciation caused by people manipulating it for profit – John Awuah

Past cedi depreciation caused by people manipulating it for profit – John Awuah

by Hamdia Mohammed
May 30, 2025
0

The CEO of Ghana Association of Banks, John Awuah, has revealed that a significant portion of the cedi’s past depreciation...

Ghana cedi’s recent gains may be temporary without deeper reforms – APL

Ghana cedi’s recent gains may be temporary without deeper reforms – APL

by Hamdia Mohammed
May 29, 2025
0

Africa Policy Lens (APL), a Policy Research and Analyst Organisation, has commended Ghana’s recent macroeconomic progress but warned that the...

Next Post
I won’t set aside due process in corruption fight – Akufo-Addo tells Mahama

Akufo-Addo orders Finance Ministry to release ¢1.5bn bailout to banking sector clean-up victims

Recommended

Mahama promises degree status for Nursing, Midwifery schools

Mahama promises degree status for Nursing, Midwifery schools

4 hours ago
15% Transport Cut: We’re not part – Bolt, Uber, Yango drivers

15% Transport Cut: We’re not part – Bolt, Uber, Yango drivers

6 days ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact
    Call us: +23320000000

    © 2024 The Overseer News - Powered By The Overseers The Overseer News.

    No Result
    View All Result
    • Home
    • Politics
    • World
    • Business
    • Science
    • National
    • Entertainment
    • Gaming
    • Movie
    • Music
    • Sports
    • Fashion
    • Lifestyle
    • Travel
    • Tech
    • Health
    • Food

    © 2024 The Overseer News - Powered By The Overseers The Overseer News.