• 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

Presidential Advisor on Economy Warns of Debt Risks Despite GDP Growth Milestone

5 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
182
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Presidential Advisor on Economy Warns of Debt Risks Despite GDP Growth Milestone

Presidential Advisor on the Economy, Seth Terkper, has highlighted concerns over the country’s debt sustainability despite recent GDP growth, cautioning that structural weaknesses in public finance could undermine economic progress.

Speaking at the launch of Deloitte’s 2025 Budget Analysis Report, Mr Terkper noted that while Ghana’s GDP has surpassed the GHS 1 trillion mark, much of this growth has been driven by fiscal corrections under the International Monetary Fund (IMF) programme. He underscored the need for Ghana to consolidate its fiscal position through a mix of homegrown policies and lessons drawn from past IMF programmes.

“We’ve been told in this budget that GDP has crossed a trillion cedis, which signifies some positive developments. However, this has largely been driven by corrections led by the IMF, which we attempted to break with homegrown policies,” he stated.

A key concern raised was Ghana’s persistent debt burden, which he linked to past and current fiscal mismanagement. Reflecting on the Heavily Indebted Poor Countries (HIPC) initiative, Mr Terkper described it as a pivotal moment for Ghana’s debt restructuring, but cautioned that the country has once again found itself in a precarious debt position.

“HIPC was a watershed moment in terms of debt forgiveness, but after a period of stability, we defaulted again. This highlights that debt remains a significant challenge. Unlike in the past, where foreign creditors bore the brunt of haircuts, domestic investors have now had to absorb losses. The question now is whether Ghana risks another default,” he warned.

Mr Terkper pointed to the country’s constrained access to both domestic and international financial markets as a major challenge, citing the inability to issue medium-to-long-term bonds. “We are locked out of our own domestic market and the external market. We can’t issue three-year or five-year bonds, which we previously introduced in 2010 and 2014. There was a time when domestic bonds were oversubscribed, with strong participation from foreign investors. That market has been eroded.”

RelatedPosts

Unpaid Taxes “Very Frightening”, Says Hon. Nana Osei-Adjei

Dollar Slides as Trump Fires Fed Governor Lisa Cook

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

Highlighting the impact on infrastructure financing, Terkper referenced Ghana’s Terminal 3 airport project as an example of smart borrowing, where revenues from airport taxes were earmarked to service debt. He called for a return to disciplined debt management practices, emphasizing the importance of refinancing mechanisms that prioritize sustainable repayment structures.

“The government must ensure that borrowing is tied to projects with clear revenue streams. Infrastructure development is essential for job creation and economic expansion, but if we borrow, we must have a structured plan to repay. Businesses and households manage their debts carefully—governments must do the same.”

Looking ahead, he stressed the need for Ghana to restore investor confidence, control inflation, and rebuild its domestic bond market. “The path forward will require tough decisions, but we must ensure that debt does not become a long-term drag on the economy. Without access to financing, growth will be stifled.”

His remarks come as the government seeks to implement its 2025 budget, with projected revenues of GHS 224.9 billion, up from GHS 186.6 billion in 2024. Analysts caution that while new revenue measures may help, Ghana’s ability to regain fiscal stability will depend on prudent debt management and sustainable economic policies.

Tags: Debt RisksGDP Growth MilestonePresidential Advisor on Economy Warns of Debt Risks Despite GDP Growth Milestone

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

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

Trending

Features

Unpaid Taxes “Very Frightening”, Says Hon. Nana Osei-Adjei

August 26, 2025

Unpaid Taxes "Very Frightening", Says Hon. Nana Osei-Adjei Parliamentary hearing reveals massive tax collection shortfall as GRA...

Dollar Slides as Trump Fires Fed Governor Lisa Cook

August 26, 2025

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

August 26, 2025

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

August 26, 2025

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

August 26, 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.