Connect with us

    Hi, what are you looking for?

    Joe Jackson
    Joe Jackson

    Local News

    Ghana Will face a doomsday scenario if debt restructuring is not completed by January, according to one analyst.

    In the event that the government does not conclude its debt restructuring discussions and strategy by the end of January this year, financial analyst Joe Jackson has projected a grave economic situation.

    He said that a delay in the conclusion of the discussions would only increase the gloom and uncertainty facing the economy, which is now looking for IMF support after lately missing payments on its foreign debt.

    The Director of Business Operations of Dalex Finance urged the government to move quickly with its negotiations to implement the domestic debt swap scheme as outlined in an interview with Accra-based Citi FM.Dalex Finance’s Director of Business Operations urged the government to move quickly with its negotiations so that the domestic debt swap scheme may be implemented as planned.

    Advertisement. Scroll to continue reading.

    “In my opinion, it should have been handled by the end of this month [January], and it is difficult to fathom moving into February without this issue being fixed.”

    Regarding the local currency’s most recent advances against the main trading currencies, Joe Jackson said the development has subsequently helped investors feel more at ease on the global market.

    MIGHT BE INTERESTED  Keche Andrews' Spouse Reveals Her Desire To Run For Amenfi Central's Parliamentary Seat.

    “Because there is hope that the IMF would step in and offer some stability, the markets haven’t punished Ghana as harshly as they could have.

    But after that, we must engage in voluntary negotiations with each of the constituencies we are asking to get a haircut. We are therefore treading a fine line and need to make a decision quickly.

    Advertisement. Scroll to continue reading.

    There isn’t really a lot of time, in my opinion.” Citinewsroom.com cites him.

    The deadline to start the Finance Ministry’s domestic debt exchange scheme has been extended to January 16, 2023.

    This has changed since the program’s initial launch date of December 16, 2022. The Ministry clarified that the delay was necessary to “obtain internal clearances” from significant players in the banking industry in a statement about the situation.

    Check out some video below;

    Advertisement. Scroll to continue reading.
     

    Click to comment

    Leave a Reply

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

    Advertisement
    Advertisement
    Advertisement

    You May Also Like

    Celeb News

    Mr. Eazi promised to recognise outstanding student at C.K. Tedam University of Technology and Applied Sciences (CKT-UTAS), in Navrongo, Upper East Region, Ghana, Now,...

    Entertainment

    Young Bull, a Ghanaian young rapper Thorsten Owusu Gyimah, popularly known as Yaw Tog is on heat as he release another street anthem. The...

    Education

    Two online Information Technology degrees have been made available by the Open Institute of Technology (OPIT), an EQF (European Qualification Framework) -accredited higher education...

    Tech

    The first 500 new enrollees will receive a one-month subscription on the SVOD platform for Easter as part of a partnership between Binance and...

    Advertisement
    Social Media Auto Publish Powered By : XYZScripts.com
    Verified by MonsterInsights