Bussiness
Six-year period for debt sustainability will drag out debt service burden – Bright Simons
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Vice President of IMANI Africa, Bright Simons says government’s plans of using a period of six years to restore debt sustainability throws into question the truth about the IMF negotiations reaching advanced stages.
“Six yrs is of course twice the duration of an IMF program. And using 6 yrs to restore debt sustainability means dragging out the debt service burden. These sound like opening gambits in a negotiation. Will make many analysts doubt that the talks are “advanced” as he says,” Bright Simons tweeted last night.
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His comment follows the President’s assurances of government’s efforts to reduce the total public debt to GDP ratio to some fifty-five percent (55%) in present value terms by 2028.
To restore and sustain debt sustainability, the servicing of the country’s external debt is pegged at a minimum of eighteen percent (18%) of annual revenue by 2028, President Akufo-Addo said in an address to the nation on the economy last night.
But Bright Simons argued the government’s negotiation posture at the IMF is problematic.
“The govt wants to use 6 yrs to fix its unsustainable debt & doesn’t want debt restructuring? he questioned.
Meanwhile, President Akufo-Addo has assured all Ghanaians that no individual or institutional investor, including pension funds, in Government treasury bills or instruments will lose their money, as a result of the ongoing IMF negotiations.
“There will be no “haircuts”, so I urge all of you to ignore the false rumours, just as, in the banking sector clean-up, Government ensured that the 4.6 million depositors affected by the exercise did not lose their deposits.”
Source: Starrfm.com.gh
Ghanaian dancehall artiste Charles Nii Armah Mensah, known as Shatta Wale, has won two awards at the 43rd International Reggae and World Music Awards (IRAWMA) held in Florida over the weekend.
He picked up the Best African Dancehall Entertainer award as well as Concert of the Year for ShattaFest.
In a statement, Shatta Wale’s management expressed appreciation to the organisers and supporters of the awards.
“Management would like to sincerely appreciate the organisers of the IRAWMA awards for the recognition and continuous support for African music on the global stage.
“We also extend our deepest gratitude to fans across the world, especially the Shatta Movement fraternity, for their unwavering support, votes, and dedication throughout the years,” the statement said.
The statement added that the latest wins reaffirm the artiste’s position as one of Africa’s leading musical exports and a prominent figure in global dancehall culture.
The awards bring Shatta Wale’s total haul at the IRAWMA to 11, highlighting his continued presence on the international reggae and dancehall scene.
At last year’s edition, he won three awards: Best African Dancehall Entertainer, Best Music Video for “Killa Ji Mi”, and Best Crossover Song for “Commando” featuring Bounty Killer. -GNA
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
