• 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

Debt Restructuring: Ghana may not be lucky the 3rd time, says Seth Terkper

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
269
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Debt Restructuring: Ghana may not be lucky the 3rd time, says Seth Terkper

Former Finance Chief, Seth Terkper, has warned of the possibility of Ghana being unsuccessful in getting creditors to agree to a debt restructuring agreement should the country once again find itself in a position where it is debt-distressed and unable to repay its debts.

According to the former Finance Chief, the recent debt default on external debts and the subsequent success of the government in its external debt restructuring programme marks the second time the country has had to plead with creditors to provide debt relief.

The first instance was in 2004 when the country went into HIPC (Highly Indebted Poor Country categorisation), for which the country’s debts were forgiven.

Speaking to the media in a dialogue on Ghana’s IMF Programme and Debt Restructuring on Thursday, July 4, 2024, Mr Terkper noted that there is a need for the country to have a ‘sober reflection’ following the recent debt default asserting that Ghana may not be lucky the third time.

“There is the need for sober reflection, as a nation this legacy of default after HIPC is not likely to make us a 3rd time lucky,” he quipped.

Ghana, some weeks ago, successfully concluded its debt restructuring program with official creditors and Eurobond holders.

RelatedPosts

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

Ghana restructured $5.1 billion in debt with official creditors and $13.1 billion with Eurobond holders, achieving substantial financial relief.

According to the Finance Minister, Dr. Mohammed Amin Adam, the debt restructuring has secured for Ghana some $8 billion in savings.

The restructuring efforts, part of a broader strategy to meet IMF targets, include delayed interest payments and extended maturity dates with bilateral creditors.

To align with the IMF’s requirements, Ghana aims to reduce its debt-to-GDP ratio to 55% by 2028, down from a projected 109% prior to the restructuring.

Ghana’s debt restructuring journey began over a year ago, following an agreement in principle with bilateral creditors under the G20 Common Framework for Debt Treatment.

This set the foundation for subsequent negotiations with Eurobond holders, culminating in the current agreement.

The successful restructuring marks a critical step in stabilizing Ghana’s economy and achieving long-term fiscal sustainability.

Tags: debt restructuringDebt Restructuring: Ghana may not be lucky the 3rd timeHIPCIMFsays Seth Terkper

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

CAF Establishes New Infrastructure Department to Enhance Stadium Development Across Africa

Bibiani Gold Stars Set to Begin GPL Title Defence Against Bechem United as Fixtures for 2025/26 Season Are Released

Gov’t Increases Producer Price of Cocoa to GHS 51,660 per Tonne for 2025/2026 Season

Trending

Business

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025...

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

August 4, 2025

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

August 4, 2025

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

August 4, 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.