News
I have been given over GH₵100K ‘haircut’- Franklin Cudjoe
Founding President & Chief Executive Officer (CEO) at IMANI and African Liberty.org, Franklin Cudjoe has revealed that he has been given a ‘haircut’ as a result of the government’s Debt Exchange Programme.
In financial markets, a haircut refers to a reduction applied to the value of an asset.
This domestic debt exchange is part of a more comprehensive agenda to restore debt and fiscal sustainability.
It involves an exchange for new Government of Ghana bonds with a coupon that steps up to 10% as soon as 2025 and longer average maturity.
Revealing the plight of his investment on facebook, he wrote, “I have been given a haircut of a little over GH₵100,000 cedis in my EDC investment made over the years based on Marked to Market value.
According to Mr.Cudjoe “My Fund Manager adds a note rather painfully, that Investors that choose to remain in the fund until Ghana’s macroeconomic health and bond prices improve are not likely to realize these losses.”
“Folks, based on IMANI’s analysis of government handling of finances from 2010 to 2022, leading to the publication of IMANI’s Fiscal Recklessness Index, this means waiting for at least 8 years for governments not to be so reckless in pretending to manage the economy. And this will be hoping against hope,” he stated.
Mr.Cudjoe cautioned that “until we fix our broken political system that rewards cheap sloganeering with limitless tax and borrowed funds to be splurged at will, we are going nowhere.”
Ghana is facing a very challenging economic situation amid an increasingly difficult global economic environment.
The latest debt sustainability analysis has demonstrated unequivocally that Ghana is faced with a significant financing gap over the coming years and that our public debt is unsustainable.
The Government is currently discussing the contours of a comprehensive international financial assistance package and a debt re-arrangement covering our domestic and external creditors.
The objective is to reduce the excessive burden created by the country’s debt on the economy and reach the debt sustainability targets defined by the IMF staff for the period through 2028 and beyond. In particular, to restore debt sustainability, the government plans to reduce Ghana’s total public debt-to-GDP ratio to 55% in present value terms.
By Edem Mensah-Tsotorme
Minister for Local Government, Chieftaincy and Religious Affairs, Ahmed Ibrahim, has revealed that in the whole of 2024, only GHS 362 million was released to MMDAs in Common Fund.
Contrary to this, In 2025 alone GHS 5 billion was released to the MMDAs with the following breakdown as follows.
The Minister made this revelation when he took his turn at the Government Accountability Series held today.
In breakdown, the minister nonted that 1st Quarter – 790,372,058.40 was released for 2025.
He added that for the 2nd Quarter, 1,464,983,309.60 was released.
3rd Quarter saw the release of 1,188,921,640.80 and
1,592,706,391.20 for 4th Quarter.
The Minister added tha each of the MMDAs were required to undertake the following; at least 2-CHPS compounds, 3 Classroom blocks, 10 Boreholes, and Completion of legacy projects.
Additionally, 25% of the Common Fund was allocated for the Construction of 24-Hour Economy Model Markets.
Ahmed Ibrahim noted that as a result of the timely and unprecedented release of Funds, a total of 494 CHPS compounds, 761 Classroom Blocks, 4,029 Boreholes, and 2,755 Legacy projects are currently at various stages of completion.
Also, he added that 261 24-Hour Economy Model Markets have all been awarded on contracts and construction has begun on many of them.
By Edem Mensah-Tsotorme
The Inspector-General of Police (IGP), Mr. Christian Tetteh Yohuno, together with members of the Police Management Board (POMAB), on April 17, 2026, decorated nineteen (19) senior officers who have been promoted to their next ranks based on the recommendations of the Police Council and approval of the President, John Dramani Mahama.
The ceremony, held at the National Police Headquarters in Accra, forms part of efforts to recognise merit, dedication, and long-standing service within the Ghana Police Service, while strengthening leadership across key operational and administrative levels.
The officers promoted from Deputy Commissioner of Police (DCOP) to Commissioner of Police (COP) are Dr. Luke Asue-In-Yeng Zakpaa, Mr. Frederick Agyei, Mr. Duuti Tuaruka, Mr. Arthur Osei-Akoto, Mr. Darko Offei Lomotey, Mr. Eric Ken Winful, Mr. Barnabas Nambont Nasumong, and Mr. Desmond Owusu Boampong.
The IGP and members of POMAB congratulated the officers and urged them to uphold the highest standards of professionalism and integrity in the discharge of their duties.
