Sub-Saharan Africa debt sales hit record high

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• Conventional Youth 9 years ago

  Ghana, which is battling a double-digit fiscal deficit and seeking talks with the International Monetary Fund for financial support, was able to raise $1bn in an over-subscribed deal on Thursday. However, it was forced to pay ...
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  Ghana, which is battling a double-digit fiscal deficit and seeking talks with the International Monetary Fund for financial support, was able to raise $1bn in an over-subscribed deal on Thursday. However, it was forced to pay a relatively high yield of 8.25 per cent.
  
  “The low interest environment – thank you Mr Draghi – has certainly helped Ghana place this deal, along with a well-timed call for IMF assistance,” Kevin Daly, a London-based senior manager at Aberdeen Asset Management, said.

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• Conventional Youth 9 years ago

  Christine Lagarde, IMF managing director, earlier this year warned African countries about the risk of spoiling a good record of strong economic growth over the past decade “overloading the countries with too much debt”.
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  Christine Lagarde, IMF managing director, earlier this year warned African countries about the risk of spoiling a good record of strong economic growth over the past decade “overloading the countries with too much debt”.
  
  Ghana was the country that epitomised the ‘Africa rising’ narrative of strong economic growth and improved governance and was the first country in sub-Saharan Africa – with the exception of South Africa and the Seychelles – to raise funds from the international capital markets through a sovereign bond.

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• The mask 9 years ago

  We need a progressive policy. All adverts in Ghana must be created by wholly owned Ghanaian businesses and the songs and celebrities in the adverts must be wholly Ghanaian. The celebrities and musicians must receive royalties ...
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  We need a progressive policy. All adverts in Ghana must be created by wholly owned Ghanaian businesses and the songs and celebrities in the adverts must be wholly Ghanaian. The celebrities and musicians must receive royalties. All the wholly owned Ghanaian entities must use wholly owned Ghanaian banks like ADB.
  
  We must move into the era of music/movies as a service (MAAS). At least 7 out of every 10 songs, movies and TV series played on our television stations, radio stations and entertainment centres must be wholly Ghanaian and must be produced in Ghana. These stations and entertainment centres must pay on a monthly or annual basis royalties to the Ghanaian artists. The amounts paid must be reasonable taking into consideration the profits of the entertainment establishments. However they must not pay any money whatsoever to the foreign artists because of the negative effect it would have on our GDP. The Ghanaian artists must use wholly owned Ghanaian banks like ADB. Many people can recall great shows like: Kukurantumi-road to Accra, Ultimate paradise, By the fireside, I told you so, things we do for love, Akan drama with osofo dadzie, obra and co, home sweet home, TV theatre, Dr Paa Bobo´s songs etc
  
  There is lack of will and this must change.

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• Abena Gyumfua 9 years ago

  A 8.25 percent interest on a loan of 1bn is direly to an economy as that of Ghana. When will we be freed from economy slavery? Thanks to our selfish, self-centered, corrupt politicians that see serving their nation as an oppo ...
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  A 8.25 percent interest on a loan of 1bn is direly to an economy as that of Ghana. When will we be freed from economy slavery? Thanks to our selfish, self-centered, corrupt politicians that see serving their nation as an opportunity to loot its coffers. Well, it will affect us all. They should not think they can hoard and hide money for their children overseas because the sins that men commit do live after them. Ask the descendants of Liberia crooners. Despite the wealth their grandparents hoarded and the good schools they were sent abroad, today they are not better than those that were deprived.
  Sad Sad Sad day for Nkrumah's Ghana the rich Coast Cost/Ghana!

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• Lord Tennison 9 years ago

  The prospect of an IMF fresh cash injection is a factor,but our strong economic backbone of enviable natural resources make our current economic situation not too hopeless,bearing in mind that the problems were self-inflicted ...
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  The prospect of an IMF fresh cash injection is a factor,but our strong economic backbone of enviable natural resources make our current economic situation not too hopeless,bearing in mind that the problems were self-inflicted by the INCOMPETENCE of the trio:John Mahama,Seth Terkper and Dr. Kofi Wampah.Ghana shall overcome.

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