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The government will borrow about GH¢200 billion from the treasury market in 2025. This is below the 2024 estimate of GH¢220 billion, translating to an average weekly uptake of GH¢3.9 billion versus GH¢4.2 billion, respectively. Databank Research said with improving access to international funding and most macroeconomic indicators showing signs of sustained recovery, the government may likely pivot towards longer-term financing options. However, this shift is expected to occur after the first quarter of 2025, as the treasury refinancing needs may keep demand for short-term funding elevated while it navigates maturities from high uptake in the second half of 2024.…

Finance Minister-designate, Cassiel Ato Forson, plans to secure additional IMF funding, cut public spending, and revitalize key sectors. He indicated plans to seek additional funding from the International Monetary Fund (IMF) to stabilize the economy amid ongoing challenges. Forson revealed the intentions during an interview with Reuters on Thursday, January 9, ahead of discussions with an IMF delegation visiting Accra. “We are committed to working with the IMF, but we also want to ensure we can raise additional financing, working with the IMF and other domestic and international partners,” Forson stated. He criticized the country’s reliance on Treasury bills as…

The World Bank has reiterated its dedication to promoting economic growth and sustainable development across Africa, with Ghana identified as a key partner in its efforts. During a high-level meeting in Accra, last week, Ousmane Diagana, the Vice President for West and Central Africa at the World Bank engaged with President John Mahama to discuss strategies for bolstering Ghana’s development agenda. The discussions centred on enhancing partnerships and refining Ghana’s economic strategies, with the World Bank expressing its commitment to financing critical initiatives and addressing challenges related to sustainable growth. Highlighting the institution’s evolving approach under its new president, Ajay…

Ghana has been identified as the second most indebted African nation to the International Monetary Fund (IMF) in terms of concessional loans. According to the IMF’s Quarterly Finances, the country’s outstanding indebtedness to the institution reached US$2.914 billion as of October 31, 2024, representing 17% of total African borrowings from the IMF. Only the Democratic Republic of Congo, with an indebtedness of US$2.256 billion surpassed Ghana. Zambia followed in third place with US$1.272 billion in outstanding loans. This revelation comes as Ghana grapples with a severe economic crisis that led it to seek a US$3 billion bailout package from the…

The government of Ghana is expected to reduce its borrowing from the Treasury bill market in 2025, according to Databank Research. In its 2025 Ghana Market Outlook report, the financial services firm projects borrowing of approximately GH₵200 billion, down from an estimated GH₵220 billion in 2024. This translates to an average weekly borrowing of GH₵3.9 billion, compared to GH₵4.2 billion in the previous year. Databank attributes this decline to “improved access to alternative funding sources and a strategic pivot towards long-term securities.” This shift aligns with Ghana’s broader economic recovery efforts and increased access to international financial markets, providing the…

Energy analyst, Benjamin Nsiah has raised concerns over the past Akufo-Addo government’s role in the energy sector crisis, pointing out significant shortcomings in addressing electricity consumption and sector funding. Mr. Nsiah highlighted that the government is a major consumer of electricity, accounting for approximately 80% of the debt owed to the Electricity Company of Ghana (ECG) annually. “In a year, government consumes about 80% of the debt and one would think that the government would find a way to balance these shortfalls in the energy sector budget, but it has failed to do so,” he said. He further criticized the…

Ghana is ready to renegotiate with the United States (US) Government for possible reinstatement of US$190 million under the Millennium Challenge Corporation (MCC), that had been devoted to the electricity sector. President John Dramani Mahama disclosed this during a courtesy call on him by Mr Ousmane Diagana, the World Bank Vice President for West and Central Africa, in Accra. Mr Diagana was in Accra to witness the inauguration of President Mahama at Independence Square, which took place on January 7. Mr Mahama reiterated that there was a need for his administration to change the systems in the energy sector to…

Among the lot is a Labour Consultant, Austin Gamey, who has praised Dr Ato Forson’s expertise and his suitability as Finance Minister-designate to tackle Ghana’s economic challenges.

Jinapor emphasized that this directive is backed by the Chief of Staff and aims to halt financial leakages within the company.

He vowed to prioritize the welfare of Ghana’s youth, focusing on job creation to tackle the country’s unemployment rate during his swearing-in ceremony last week.