Domestic debt restructuring –particularly, the issuance of a Ghc10 billion bond will save the country about Ghc50 billion annually from its implementation.
This follows a disclosure made by the Ministry of Finance on the debt management policy adopted by the President Nana Akufo – Addo led administration..
Speaking to the media during the 2017 Capital Market Week - Deputy Minister of Finance, Charles Adu Boahene noted that prior to the public debt management or fiscal policies in general adopted, government had become so financially vulnerable.
He said: “we encountered a situation where under every month we had about a billion cedis of treasury bills maturing and either you found a billion cedis to pay them off or you have to roll them over and so that means you have about 4 billion a month in maturing securities which clearly, we don’t generate enough revenue to be able to pay along all the other things that we have to payâ€.
The disclosure by the Finance Ministry further validates the positive overview of the country's fiscal policy performance by independent market analyst as well as international monetary agencies like the World Bank, which recently selected Ghana to join the founding members of its Investment Reformers Network.