Minister of State at the Ministry of Finance, Charles Adu Boahen, says the government is concerned about the heightened sell-off of Ghana’s sovereign bonds in the global market.
He said although the situation was a global phenomenon, Ghana’s case was “more pronounced,” raising concerns about debt sustainability and the state of the economy.
He said at the Graphic Business/Stanbic Bank Breakfast Meeting in Accra on Tuesday, November 2, 2021, that the development was a spillover effect of the Covid-19 pandemic.
“I’m sure you all notice the global sell-off in our Eurobonds in the international stock market. There’s been a general sell-off but I am sure those of Ghana has been quite pronounced.”
“It is a situation that is of concern,” he said at the event meant to proffer solutions to the changes facing the economy ahead of the presentation of the 2022 Budget.
“I want to assure the audience that nothing fundamentally has changed; we’re still on track to meet our deficit, we are still on track to meet our revenue target for the year.”
“We believe that the market’s reaction is not based on the fundamentals, which are still as robust as they were three to four months ago,” Mr Boahen said.
Latest Stories
-
Too much intake of salty foods is detrimental to your health – Health expert
8 mins -
Leveraging technology to improve accessibility for the hearing impaired – Vodafone Super Care
16 mins -
Bulgarian Embassy demolition: Parliament will demand a copy of 149-paged report – Ablakwa
25 mins -
Hearing loss prevalent among children in Asokore Mampong municipality – research shows
36 mins -
6-year-old Nayram Gadegbeku opens up on experience at 2022 Barcelona Open
40 mins -
It’s time to outrightly ban return of state lands to allodial owners – Ablakwa
1 hour -
Nana Frema Busia: Agyapa Again?
1 hour -
It’s about time – Sarkodie and R2Bees to hold concert in New York
2 hours -
‘Ghanaian film editors are not efficient enough’ –Yvonne Nelson
2 hours -
MSMEs are key to economic growth in the CommonWealth – CWEIC CEO
2 hours -
Kwabena Agyepong denies receiving car bribe from Ibrahim Mahama to keep NPP in opposition
2 hours -
BoG should deal with cedi stability, others -Togbe Afede XIV
3 hours -
Medical scientist call for public education on sickle cell disease
3 hours -
Jayee University College holds 11th congregation
3 hours -
Akufo-Addo urges African countries to work together and fully utilise AfCFTA
3 hours