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Ghana’s debt distress rating upgraded to moderate risk- IMF rep states
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Ghana’s debt distress rating has been upgraded from high risk to moderate risk, marking the first such improvement in 13 years, according to the International Monetary Fund (IMF).
IMF Resident Representative to Ghana, Dr Adrian Alter, described the development as a major achievement, noting that it came two years earlier than initially expected.
Speaking on The Point of View with Bernard Avle on August 24, 2026, Dr Alter explained that the latest Debt Sustainability Analysis (DSA) conducted at the end of Ghana’s Extended Credit Facility (ECF) programme showed significant improvements in the country’s debt sustainability indicators.
“The rating has been upgraded from high risk of debt distress to moderate risk of debt distress. And this is the first time in 13 years, so it’s a huge achievement,” he stated.
He noted that the country’s key debt sustainability indicators had improved and were now below the required thresholds.
According to him, Ghana’s central government public debt has also fallen to about 45 per cent of Gross Domestic Product (GDP).
Dr Alter explained that the government must continue working to reduce borrowing and interest costs, which currently take up about one-third of government expenditure.
He said lowering interest costs would create more fiscal space for the government to spend on salaries, social programmes and development projects.
He stressed the need for increased domestic revenue mobilisation to support capital expenditure without placing excessive pressure on borrowing.
However, he cautioned that the government must avoid competing with the private sector for funds needed to expand businesses and create jobs.
“The private sector should be the one creating jobs and boosting growth,” he noted.
Dr Alter added that private sector credit had recently increased by about 40 per cent year on year, based on the latest statistics from the Bank of Ghana, describing the development as a positive sign for economic growth.
By: Jacob Aggrey
The Accra Regional Police Command has arrested former professional boxer Michael Ayitey Okai, popularly known as “Ayitey Powers,” over an alleged threat of death against the Director-General of the National Sports Authority, Yaw Ampofo.
According to the Police, the 46-year-old former boxer was arrested on Monday, August 24, 2026, in connection with the alleged threat.
The Police said the arrest followed a video circulating on social media in which Ayitey Powers is alleged to have issued the threat against Mr Ampofo.
He is currently in Police custody and is assisting with investigations.
The Accra Regional Police Command said investigations are ongoing to establish the circumstances surrounding the alleged threat and determine the appropriate action to be taken in accordance with the law.
The Command has urged the public to refrain from sharing unverified information about the matter while the investigation continues.
By: Jacob Aggrey
Minority Leader in Parliament Alexander Afenyo Markin has sued the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, and Multimedia Group Limited over alleged defamatory comments made against him on the Newsfile programme.
In a writ filed at the High Court in Accra, Mr Afenyo Markin is seeking GH¢15 million in damages, an apology and retraction of the statements, among other reliefs.
The suit follows comments allegedly made by Mr Gyamfi during the Saturday, August 22, 2026 edition of Newsfile, hosted by Samson Lardy Anyenini.
According to the statement of claim, Mr Gyamfi described Mr Afenyo Markin as an “extortionist” while responding to a question about GoldBod’s reported profits and its position on losses arising from its operations.
The plaintiff claims that Mr Gyamfi repeated the allegation when the host sought clarification on whether he stood by the description.
Mr Afenyo Markin further claims that Mr Gyamfi challenged him to sue him and insisted that the allegation was true.
The plaintiff argues that the statements created the impression that he engages in extortion, uses his political influence to put improper pressure on public institutions and officials, and conducts himself in a manner inconsistent with the standards expected of a lawyer and public office holder.
He denies the allegations and maintains that he is not an extortionist and has never engaged in the conduct alleged by Mr Gyamfi.
The Minority Leader also argues that the comments were made maliciously and were presented as facts without evidence being disclosed.
He claims the statements have damaged his reputation, professional standing and public image, particularly because of his position as a senior political figure and legal practitioner.
The suit also names Multimedia Group Limited as a defendant because, according to the plaintiff, the alleged defamatory comments were broadcast through JoyNews and subsequently circulated on social media platforms, including X, Facebook and YouTube.
Mr Afenyo Markin claims Multimedia failed to stop the comments or deactivate Mr Gyamfi’s microphone after the allegations were made.
He is therefore asking the court to award him general, aggravated and exemplary damages, as well as GH¢15 million in compensation and legal costs.
He is also seeking an order compelling the defendants to issue a full, unconditional and unequivocal retraction and public apology.
The plaintiff wants the apology and retraction to be given similar prominence and reach as the original publication, including through JoyNews and the social media platforms where the comments were disseminated.
He is further seeking a permanent injunction preventing the defendants from repeating the alleged defamatory statements or words with a similar meaning.
The writ requires the defendants to enter an appearance within eight days after being served.
It warns that failure to do so could result in judgment being entered in their absence.
The case was filed by lawyer Paa Kwesi Abaidoo of Dehyena Chambers on behalf of Mr Afenyo Markin.
By: Jacob Aggrey
