• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • 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
  • Election 2020
  • Contact
Saturday, June 25, 2022
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

IMF advices Ghana to join G20’s DSSI

1 year ago
in Economy, highlights, Home, home-news, latest News
2 min read
0 0
2
IMF Boss - norvanreports

IMF Boss - norvanreports

348
VIEWS
Share on FacebookShare on TwitterShare on Linkedin
Dormant Accounts FNB

The International Monetary Fund (IMF) has urged Ghana to access the G20’s Debt Service Suspension Initiative (DSSI) on the back of less fiscal space and continued rising debts.

According to the Bretton Wood institution, support from the DSSI through debt relief will be essential to the country and ensure that Ghana is not overwhelmed by costs of servicing its debts.

Adding that, debt restructuring may be unavoidable for Ghana.

“Developing countries have far less policy space, and many entered this crisis [Covid-19] with high debt that is set to rise even further during the pandemic. Support from the international community through grants, concessional loans, and debt relief will be essential to ensure that these countries are not overwhelmed by crisis costs and rising poverty.”

“Debt restructuring may be unavoidable for some countries. While temporary liquidity relief can help mitigate the lack of policy space, for some countries it may not be enough in situations where sovereign debt is unsustainable. In such instances eligible countries should work with creditors to restructure their debt under the new Common Framework agreed by the G20,” said the IMF in its latest January 2021 World Economic Outlook Report.

Ghana’s total debt stock is projected to reach 80 per cent of Gross Domestic Product (GDP) by the end of 2021, placing it in the high-debt distress category and threatening the stability of the economy.

According to Moody’s in its January 2021 Sub-Saharan Africa Outlook Report, Ghana’s economy will come under pressure with rising debts as the country will be ranked second in Sub-Sahara with the greatest vulnerability to external debt-stress pressure.

RelatedPosts

Finance Minister accounted for less than 50% of Covid-19 expenditure – Dr. Asiedu

National Cathedral: Lies are being told to cause disaffection – John Kumah

US: Abortion clinics start to close after Supreme Court ruling

Moody’s attributes Ghana’s growing debts to the rise in the country’s borrowing requirements as compared to its peers on the Continent.

With domestic revenue mobilization expected to remain low, repayment of bilateral and multilateral loans will be difficult for the country.

As the nation’s borrowing requirements rise amid wider financing gap and upcoming maturities, debt market analysts have urged Ghana to take advantage of the G20 Debt Service Suspension Initiative (DSSI) to get some modest liquidity relief as re-echoed by the IMF.

With the DSSI, bilateral loans with maturities that fall due within the programme will have a repayment period of 5 years.

Presently, Ghana’s debt stock stands at Ghs 283 billion, representing 71 per cent of GDP.

    Source: norvanreports
    Via: Snr Fuaad Dodoo
    Tags: G20's Debt Service Suspension Initiative (DSSI)ghanaGross Domestic Product (GDP)International Monetary Fund (IMF)Moody’s

    Comments 2

    1. Pingback: IMF advices Ghana to join G20’s DSSI – PFM Tax Africa Network – Engage
    2. Pingback: retin a online no prescription
    No Result
    View All Result

    Highlights

    The 4% ‘rule of thumb’ used by retirees

    Nigeria to meet OPEC quota by August 

    AfDB calls for strong investment in the youth at 2022 Commonwealth Business Forum

    New banking laws proposed for South Africa

    Ashanti Gold’s Yaw Annor ranked 7th on FIFA’s list of players with most goals in 2022

    WAFU B U-17 tournament: Black Starlets beat Ivory Coast to win bronze

    Trending

    Business

    Finance Minister accounted for less than 50% of Covid-19 expenditure – Dr. Asiedu

    June 25, 2022

    Finance Minister accounted for less than 50% of Covid-19 expenditure – Dr. Asiedu Pharmacist and CDD-Ghana Fellow,...

    National Cathedral: Lies are being told to cause disaffection – John Kumah

    June 25, 2022

    US: Abortion clinics start to close after Supreme Court ruling

    June 25, 2022

    The 4% ‘rule of thumb’ used by retirees

    June 25, 2022

    Nigeria to meet OPEC quota by August 

    June 25, 2022

    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:+233-0207794850 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
    error: Content is protected !!
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.