• 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 Economy

Ghana, 7 other African countries need debt help says IMF

2 years ago
in Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
195
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana, 7 other African countries need debt help says IMF

Africa needs international relief from a vicious funding squeeze that have left as many as eight of its countries requiring debt restructuring, an International Monetary Fund official said.

“In sub-Saharan Africa, the picture is really quite varied,” IMF Director of the African Department Abebe Selassie said Thursday in an interview on Bloomberg Television with Jennifer Zabasajja in Marrakech, Morocco during the annual meetings of the lender and the World Bank.

“The number of countries where debt is unsustainable and need restructuring is about seven, eight now,” he said. “In most other cases what we are seeing is heightened debt vulnerabilities.”

Ghana and Zambia have both sought IMF emergency bailouts and are in the process of restructuring their debts, while investors are keeping watch on Kenya, Angola, Malawi and Mozambique, among other heavily-indebted countries on the continent.

Selassie repeated that he was confident of Zambia and its creditors reaching a deal in the next few days, with terms having been agreed in substance.

The IMF expects growth in sub-Saharan Africa to slow to 3.3% this year from 4% in 2022, before bouncing back to 4% next year. But it cautions that a recovery is not assured.

RelatedPosts

GSE Composite Index Declines as Market Capitalisation Falls to GH¢168.02bn

European Football’s Power Shift: The Rise of the EFC

Atlantic Lithium Discovers New High-Grade Spodumene Pegmatite Occurrences in Côte d’Ivoire

The region was slammed by the pandemic and surging food prices after Russia’s invasion of Ukraine, with soaring inflation leading to aggressive interest-rate increases around the world. That’s led to a funding squeeze amid rising debt-service costs and weakening currencies.

Selassie said that in addition to helping those nations requiring debt restructuring, the international community should address the needs of the rest of the region.

“That’s where we’re working to try to mobilize more resources for countries. Ourselves providing more resources,” he said. “And also of course, there resources are to support policies that are needed to get countries back to the more dynamic ways they were before the pandemic.”

Tags: 7 other African countries need debt help says IMFdebt helpghanaIMFZambia
No Result
View All Result

Highlights

UEFA Champions League Matchday 3: Key stats and what to look out for in every game

GPL: Gold Stars ends Heart of Lions’ Unbeaten run as Karela hold Eleven Wonders in Swedru

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release

Global Economy Undergoing Profound Transformation Amid Heightened Uncertainty, Says IMFC Chair

Fitch Solutions Revises Ghana’s 2025 Growth Forecast Upwards to 4.9% on Easing Inflation and Stronger Cedi

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies

Trending

Business

GSE Composite Index Declines as Market Capitalisation Falls to GH¢168.02bn

October 21, 2025

GSE Composite Index Declines as Market Capitalisation Falls to GH¢168.02bn The Ghana Stock Exchange (GSE) closed Tuesday’s...

European Football’s Power Shift: The Rise of the EFC

October 21, 2025

Atlantic Lithium Discovers New High-Grade Spodumene Pegmatite Occurrences in Côte d’Ivoire

October 21, 2025

UEFA Champions League Matchday 3: Key stats and what to look out for in every game

October 21, 2025

GPL: Gold Stars ends Heart of Lions’ Unbeaten run as Karela hold Eleven Wonders in Swedru

October 21, 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.