News
Domestic Debt Exchange: This is the most expensive economic recovery in history- Prof. Bokpin
Economist and Prof of Finance, Prof. Godfred Bokpin has asserted that the apology from the Minister of Finance, Dr.Amin Adam means nothing in the face of challenges ahead.
According to the Prof of Finance, “In our history, this is the pricy and most expensive economic recovery.”
He said when you look at the data “let’s not joke about it, it is going to take us decades to get out of this.”
Speaking to Evans Mensah on Joy News, he said at this present rate and the level of governance on the table, nothing is going to change.
“If you look at the domestic debt exchange and external debt restructuring it is just to buy space while the IMF programme is in force,” he said.
Prof. Bokpin shockingly revealed that after 2026, there is no way the country will sustain its debt and optimally allocate funds to priority spending in the area of education, health, education, agriculture in the manner that it will benefit Ghanaians.
“If you look at the energy sector shortfalls, if you do the forecast and the maturity clustering of the DDE, we are looking at more GH₵ 33billion in 2027, about GH₵37 billion in 2028, how will the country prepare for that?,” he queried.
He concluded that “If you are thinking of setting up a sinking fund, there is a trade off, if you look at the growth projection from now to 2029, it is insufficient.”
By Edem Mensah-Tsotorme
The Diaspora Affairs Office at the Office of the President has hosted a delegation of African diaspora women who are in Ghana ahead of a planned Presidential Conferment of Citizenship ceremony.
The Director of Diaspora Affairs, Kofi Okyere Darko, explained in a Facebook post that the visit was a gesture of appreciation by the delegation to the Government of Ghana for its continued efforts to reconnect Africans in the diaspora with their ancestral homeland.
He indicated that the ceremony, scheduled for next Monday, will officially grant Ghanaian citizenship to members of the delegation as part of the country’s broader engagement with the African diaspora.
The delegation was led by Erica Bennett, Founder of the Diaspora Africa Forum.
According to Mr Okyere Darko, her years of advocacy have played an important role in strengthening ties between Africa and people of African descent living abroad.
He noted that the group’s journey towards citizenship represents not only a legal process but also a cultural and spiritual return to their roots.
Also present at the meeting was Natalie Jackson, an attorney who is also expected to receive Ghanaian citizenship during the ceremony. She works closely with renowned civil rights lawyer Ben Crump.
Mr Okyere Darko emphasised that Ghana remains committed to strengthening relationships with the African diaspora and promoting unity, identity, and shared heritage among people of African descent worldwide.
By: Jacob Aggrey
Ghana has signed a debt restructuring agreement with the Kingdom of Belgium as part of efforts to restore the country’s economic stability after the financial crisis that hit the nation in 2022 and 2023.
The Minister of Finance, Cassiel Ato Forson, today disclosed that he signed the agreement on behalf of the Government of Ghana.
He explained that Ghana experienced a very difficult period during the crisis, which forced the government at the time to declare a debt default.
However, he indicated that the country is now recovering and witnessing a significant economic turnaround.
According to him, stronger systems are also being put in place to ensure that Ghana does not return to such a situation again.
Dr Forson noted that the agreement with Belgium is the eighth deal Ghana has concluded with countries under the Official Creditor Committee as part of its external debt restructuring programme.
He expressed appreciation to the Government of Belgium for its support and partnership with Ghana during the process.
The Finance Minister thanked Carole van Eyll, Ambassador of Belgium to Ghana, for her role in strengthening relations between the two countries.
The agreement forms part of Ghana’s broader effort to restructure its external debts and stabilise the economy following the crisis.
By: Jacob Aggrey
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