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Government breaks promise of not borrowing in just 3 months

The Akufo-Addo government, has issued a total of 2.25 billion dollars in four bonds contrary to its campaign promise not to borrow, because Ghana’s debt stock, had risen beyond the country’s capacity to service it.

The New Patriotic Party (NPP) while in opposition, had condemned the Mahama government for pushing the country into a debt crisis, but last Monday, the first two bonds, totaling 1.13 billion dollars was issued at 15 and 7 years period with a 19.75 percent interest.

April 6, 2017

References:

• http://www.ghanaweb.com/GhanaHomePage/NewsArchive/Government-breaks-another-election-promise-526349
• http://theheraldghana.com/govt-breaks-another-election-promise/
• https://citifmonline.com/2017/04/04/govts-2-25bn-bonds-will-not-crowd-out-private-sector/
• http://africafeeds.com/2017/04/04/ghana-rakes-in-2-25-billion-dollars-in-domestic-bonds/