• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

COVID-19 and cedi depreciation to push debt stock to 76.8% of GDP – Seth Terkper

5 years ago
in Business, Economy, highlights, Home, latest News
1 min read
0 0
0
69
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Former Finance Minister, Seth Terkper, has revealed that the nation’s debt stock to Gross Domestic Product (GDP) could go as high as 76.8 per cent by the end of 2020.

The possible hike in the country’s total debt, according to Mr Terkper, will be the result of a prolonged Covid-19 crisis as it will add to borrowing pressures which eventually will push the debt ratio beyond 70 per cent of GDP.  

The trajectory for public debt at the end of 2020 is worrisome as the coronavirus crisis merely adds to existing financing pressures. A prolonged Covid-19 crisis will add to borrowing pressures, worsen the large financing gap and push the ratio beyond 70 per cent, he wrote in an article to dispute the Central Bank’s claim that Ghana’s debt-to-GDP ratio was 59.3 per cent at end-March, 2020.

Disputing the Central Bank’s 59.3 per cent debt ratio at end-March 2020, Mr Terkper asserted that reports from the International Monetary Fund (IMF) indicate that debt ratio at end-December 2019 was 63 per cent, further stating that the IMF’s Article IV and Rapid Credit Facility report in March, revealed that an additional 5.4 per cent had been added to the debt stock currently making it 68.7 per cent (including banking bailouts and energy sector costs).  

The additional 5.4 per cent debt stock comes from the US$3 billion bond issued in February 2020, the Covid-19 US$1 billion concessional loan, coupled with higher expenditures and slow growth.

Mr Terkper further revealed that, rating agencies like Fitch forecast a worsening debt ratio owning to wider fiscal deficit and continuous cedi depreciation.

The projection for public debt is an increase from 56.85 per cent at end-2016 to 76.8 per cent at end-2020, he wrote. 

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Tags: Covid-19debt stockGDPPublic Debt
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.