• 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

Ghana’s debt rises 20% in four months as Central Bank loans added

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
321
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana’s debt rises 20% in four months as Central Bank loans added

Ghana’s public debt increased by a fifth in just four months, driven partly by the inclusion of short-term loans from the central bank to the state.

Public debt, which excludes state-owned enterprises obligations, rose to 569.3 billion cedis ($49.7 billion) at the end of April, the Bank of Ghana said on its website. The figure was adjusted to include the central bank’s overdraft to the government, which was securitized in December 2022.

The debt figure as of December rose to 473.2 billion cedis after the adjustment, from an earlier estimate of 434.6 billion cedis, according to the central bank’s summary of economic and financial data. Obligations as a ratio of gross domestic product declined to 71.1% in April from 77.5% in December.

Ghana, which defaulted on a eurobond payment earlier this year, is restructuring most of its debt to make it sustainable under a $3 billion International Monetary Fund program, which was approved in May.

The country completed the first part of a domestic debt exchange in February, with investors exchanging 87.8 billion cedis in obligations for new securities that paid as little as 8.35%, versus an average of 19% on the old notes.

Investors also face reduced coupons as restructuring of $1.5 billion domestic dollar bonds and cocoa bills started on July 14. The country is still in talks with local pension funds to revamp their 29 billion-cedi government bond holdings aside ongoing discussions with bilateral and eurobond holders to reorganize obligations.

RelatedPosts

Value of Mobile Money Transactions Hit GHS 323.2bn in June

Alex Mould Questions BoG’s 25% Policy Rate Amid Ample Market Liquidity and Falling Inflation

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

Below are other macroeconomic and financial updates from the central bank:

  • External debt increased to 321.4 billion cedis at the end of April from 240.9 billion cedis in December
    • Domestic debt rose to 247.9 billion cedis from 232.3 billion cedis over the period
  • Budget deficit in the first five months of the year dropped to 1.8% of GDP from 4.2% a year ago
    • The primary balance improved to a deficit of 0.7% of GDP from 1.2% deficit
  • Total exports in the first half decreased to $8.2 billion from $8.9 billion y/y
    • Imports declined to $6.4 billion from $7.4 billion
    • Trade surplus widened to 2.4% of GDP from 2% of GDP
    • Gold exports climbed to $3.5 billion from $3 billion
    • Cocoa shipments rose to $1.5 billion from $1.4 billion
    • Oil shipments dropped to $1.7 billion from $2.8 billion
    • Other exports largely unchanged at $1.6 billion
    • The current account improved to a surplus of 1.1% of GDP from a deficit of 1.5%
    • Overall balance of payment also improved to 0.1% of GDP deficit from 3.4% deficit
  • Gross international reserves decreased to $5.3 billion at end-June from $7.7 billion y/y
    • Reserves were enough to cover 2.5 months of imports versus 3.4 months cover y/y
  • Banks’ annual loans growth slowed to 15.4% in June from 33.3% y/y
    • Non-performing loans rose to 18.7% in June from 14.1% a year ago
    • Capital adequacy ratio dropped to 14.3% from 19.4%
  • Monthly mobile-money transactions increased to 149.4 billion cedis in June from 77.4 billion cedis y/y

Source: bloomberg
Via: norvanreports
Tags: BOGDebtGhana’s debt rises 20% in four months as Central Bank loans addedIMF
No Result
View All Result

Highlights

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

BoG Raises GHS 15.38 Billion via 56-Day Bills to Reinforce Tight Monetary Policy Stance

Passage of Competition Law Key to Tackling DSTV’s Market Dominance – CUTS International

Trending

Business

Value of Mobile Money Transactions Hit GHS 323.2bn in June

August 4, 2025

Value of Mobile Money Transactions Hit GHS 323.2bn in June The total value of mobile money transactions...

Alex Mould Questions BoG’s 25% Policy Rate Amid Ample Market Liquidity and Falling Inflation

August 4, 2025

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

August 4, 2025

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

August 4, 2025

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

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.