Debt Restructuring: Gatsi advises the administration against borrowing carelessly

Prev1 of 2
Use your ← → (arrow) keys to browse

The debt restructuring conditionality imposed on Ghana, according to Cape Coast University Business School Dean Professor John Gatsi, is a lesson from the IMF (IMF).

Debt Restructuring: Gatsi advises the administration against borrowing carelessly
Debt Restructuring: Gatsi advises the administration against borrowing carelessly

 

As part of negotiations with the International Monetary Fund, the government has disclosed the specifics of a domestic debt exchange that will take place after the Debt Sustainability Analysis is finished (IMF).

Domestic bondholders are expected to exchange their current instruments for new ones in accordance with the scheme, Finance Minister Ken Ofori-Atta stated in a televised statement on Sunday.

He claims that domestic bonds that are currently outstanding as of December 1, 2022, will be exchanged for a group of four new bonds with maturities in 2027, 2029, 2032, and 2037.

Mr. Gatsi spoke on the situation on Starr Today with Joshua Kojo Mensah and said that the IMF is not to blame for the bleak picture that the current situations are painting.

Before further talks about the rescue can begin, in his opinion, Ghana must satisfy the conditionality.

 

Prev1 of 2
Use your ← → (arrow) keys to browse

admin

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

Internal fraud in the banking industry, explained

Sat Dec 10 , 2022
Despite several control systems being in place, banking institutions are becoming more and more vulnerable to fraud with time. Nowadays, fraudsters can more easily design their method of operation to get around controls.   Both internal (from staff) and external sources could be the source of the fraudsters (customers, suppliers, […]
Internal fraud in the banking industry, explained