Tag: Ghana

Ghana fights fraudulent loan applications, cyber-bullying
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Ghana fights fraudulent loan applications, cyber-bullying

Nigerians seem not to be the only ones battling the issues that come with loan applications as the most recent wave of scammers in Ghana are online lending applications that prey on low-income individuals by obtrusively advertising soft loans that put them in danger. Premium Times reported that one victim from Ghana opted to download an […]

IMF backs CBN on interest rate hike
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IMF grants Ghana $3bn loan

The International Monetary Fund approved a $3 billion loan for Ghana on Wednesday, with the first immediate disbursement amounting to around $600 million. According to Leadership, Ghana is a West African nation suffering from severe economic crisis. The Extended Fund Facility will fund the 36-month program, which was approved by the IMF board. In an IMF […]

Ghana requests debt relief under G20 Common Framework - IMF
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Ghana requests debt relief under G20 Common Framework – IMF

Ghana has requested debt relief through the Common Framework program, which is backed by the Group of 20 major economies, according to International Monetary Fund Managing Director, Kristalina Georgieva. According to a source familiar with the matter, Ghana asked for a restructure of its bilateral debt on Tuesday under the Common Framework initiative backed by […]

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Ghana halts payment on Eurobond, others

Ghana has declared a halt to debt service payments on its commercial loans, Eurobond loans, and bilateral debts. This was confirmed by the Ghanaian ministry of finance in a press release posted on its website. In order to allow for an orderly restructuring of the impacted liabilities, the government declared that it will stop making […]

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Ghana receives IMF’s $3bn bailout fund

Ghana has signed a $3billion bailout agreement with the International Monetary Fund following months of declining economic revenue. This is a follow-up visit to Accra, Ghana, by an IMF team led by the Mission Chief for Ghana, Mr. Stéphane Roudet. The visit, which lasted from December 1 to 13, 2022, included discussions with Ghanaian officials […]

Debt
Economy

Nigeria, 10 ECOWAS countries in debt distress – Report

A new report by the Nigerian Economic Summit Group and the Open Society Initiative for West Africa has disclosed that Nigeria and 10 other Economic Community of West African States countries are currently in debt distress based on debt sustainability analysis. The 10 other countries are Benin, Burkina Faso, Cabo Verde, the Gambia, Ghana, Guinea […]