Thursday, August 18, 2022
  • Home
  • About
    • Editorial Guidelines – Accuracy
    • Trust and transparency
  • Advertise
  • Login
  • Register
Ghana News - GhStandard
  • Home
    • General
    • Social
    • Religion
    • Education
    • Health
    • Environment
    • Science
  • Breaking
    • Latest News
    • Trending News
  • Politics
    • Opinions
    • Speeches
    • Profiles
  • Sports
  • Crime
    • Legal
  • Business
    • Economy News
    • Real Estate
    • Ghana – Economy
    • Finance News
    • Faith and Business
    • Digital Marketing
  • Entertainment
    • Music Related
    • Movies
  • Lifestyle
    • Fashion News
    • Food Related
    • Travel News
  • Features
    • Profiles
    • Press Release
    • Obituary
  • World
No Result
View All Result
  • Home
    • General
    • Social
    • Religion
    • Education
    • Health
    • Environment
    • Science
  • Breaking
    • Latest News
    • Trending News
  • Politics
    • Opinions
    • Speeches
    • Profiles
  • Sports
  • Crime
    • Legal
  • Business
    • Economy News
    • Real Estate
    • Ghana – Economy
    • Finance News
    • Faith and Business
    • Digital Marketing
  • Entertainment
    • Music Related
    • Movies
  • Lifestyle
    • Fashion News
    • Food Related
    • Travel News
  • Features
    • Profiles
    • Press Release
    • Obituary
  • World
No Result
View All Result
The Ghanaian Standard
No Result
View All Result
ADVERTISEMENT
Home Ghana - Economy

Ghana ranked 2nd among countries with highest debt default risk in 2022 by Bloomberg

The Ghanaian Standard by The Ghanaian Standard
July 19, 2022
in Ghana - Economy
Reading Time: 2 mins read
A A
Ghana Economy

Ghana Economy

ShareTweetSend

A Bloomberg study has ranked Ghana 2nd among countries with the highest debt default risk in 2022.

The country closely follows El Salvador (ranked number one) in the Sovereign Debt Vulnerability Ranking.

ADVERTISEMENT

Ghana’s debt to Gross Domestic Product (GDP), according to Bloomberg, is estimated at 84.6% by the end of this year.

This indicates that the nation’s debt would have surpassed ¢400 billion by far before the end of 2022.

As of the first quarter of 2021, Ghana’s public debt had hit ¢391 billion (US$50.3 billion), the Bank of Ghana reported. As much as ¢40.1 billion was added to the debt stock, largely as a result of exchange rate fluctuation.

ADVERTISEMENT

Together with Brazil, Ghana’s interest expense to GDP is projected to hit 7.2% in 2022, the highest among the 25 countries, as captured by Bloomberg.

This means the two countries will spend more money to service their debts in 2022.

Already, the International Monetary Fund has cautioned that more than 30% of emerging and developing countries are at or near debt distress, with 60% from developing economies.

ADVERTISEMENT

According to Bloomberg, Tunisia with a debt-to-GDP ratio of 87.3% is ranked 3rd among countries that are at risk of debt default.

It is followed by Pakistan (4th), Egypt (5th), Kenya (6th), Argentina (7th), Ukraine (8th), Bahrain (9th) and Namibia (10th).

Ghana’s situation prior to the announcement by the government to seek an IMF bailout was precarious as investors had perceived the Ghanaian economy as risky, therefore escalating the yield on Ghana’s Eurobonds.

Advertisement. Scroll to continue reading.

However, since the announcement by the government to seek economic support from the Fund, calm has returned to the markets as interest rates have remained relatively stable, though there are still some concerns about the foreign exchange market.

SimilarNews

Deloitte Ghana

Rising external debt sparks foreign currency demand, cedi depreciation

August 10, 2022
Cedi still worst performing currency in Africa

Cedi still worst performing currency in Africa; depreciates 28.8% to dollar – Bloomberg

August 9, 2022
Crude Oil

Russia’s market growth in India spells more worries for Nigeria

August 9, 2022
Finance Minister - Ken Ofori-Atta

Government revises fiscal deficit target in 2022 to 6.6% of GDP

July 26, 2022
Education Funding Education 

African governments asked to increase funding to overcome learning poverty

June 28, 2022
Fuel shortage looms as Bank of Ghana rations dollars, says Bloomberg

Fuel shortage looms as Bank of Ghana rations dollars, says Bloomberg

June 22, 2022
Source: Joy Business
Via: Joy News
Tags: BloombergGross Domestic Product

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT

Similar Topic

Kroboland electricity crisis

Show leadership and resolve Kroboland electricity crisis with ECG – NDC to Akufo-Addo

August 15, 2022
Mr Ken Ofori-Atta

Parliament passes Tax Exemption Bill 2022

July 25, 2022
President Akufo-Addo

President Akufo-Addo to launch Office of Registrar of Companies tomorrow

July 22, 2022
Henry Osei Akoto

President Akufo-Addo must resign for messing up Ghana’s economy – Henry Osei Akoto

July 14, 2022
Inflation Records 29.8%

Ghana’s inflation rate jumps further to 29.8%

July 14, 2022
COLA Strike

COLA Strike: Entrenched positions always ruin negotiations – Lecturer

July 14, 2022
Please login to join discussion
https://youtu.be/2QL-nhbkqts
ADVERTISEMENT

Latest News

Country’s economic outlook worrying – GNCCI calls on government to support industry

Today’s Newspaper Frontpages – Wednesday, August 17, 2022

Fire outbreak in Egyptian church cause stampede killing at least 41, most of them children

Bawku: Three men shot dead in highway robbery

‘We can’t restore power to Kroboland until stolen parts of our transformers are fixed’ – ECG

Liberia Government suspends three officials accused by U.S. of corruption

Ghanaian taxi driver beaten to death in New York; Ghana Mission urges others to take charge of personal security

533 ‘ghosts names’ detected by Controller and Accountant-General’s Department – Dr Bawumia reveals

UG’s Commonwealth Hall residents protest suspension of Hall Master, Senior Tutor over clashes with Mensah Sarbah Hall

I don’t ‘beef’ for relevance – Lyrical Joe

Prev Next
ADVERTISEMENT

Trending News

Ghana’s Commonwealth Games delegation presents medals to Minister

“I haven’t retired yet” – Asamoah Gyan sets sight on 2022 World Cup

Three Opoku Ware SHS students arrested for alleged robbery

Bawku: Three men shot dead in highway robbery

Today’s Newspaper Frontpages – Wednesday, August 17, 2022

IMF negotiations: Government must be prepared for tough measures – Dr Kwakye

I don’t ‘beef’ for relevance – Lyrical Joe

533 ‘ghosts names’ detected by Controller and Accountant-General’s Department – Dr Bawumia reveals

UG’s Commonwealth Hall residents protest suspension of Hall Master, Senior Tutor over clashes with Mensah Sarbah Hall

Afrochella co-founder steps down following sexual harassment allegations

Prev Next
ADVERTISEMENT

Editor's Pick

Top 10 Twitter Influencers in Ghana

DStv Nigeria Packages, Channels, Prices

Ghana Braids: 25 Lovely Ghana Weaving Hairstyles

Top 10 Business Opportunities in Ghana

Best Banks in Ghana: 2021 Performance Ranking of Ghana’s Banking Sector

LIVE: GPL Table 2022 – Ghana Premier League table 2022

Wa Polytechnic Courses: List of Dr Hilla Liman University Courses & Fees

Prev Next
Best Web Design Company in Ghana Best Web Design Company in Ghana Best Web Design Company in Ghana
ADVERTISEMENT
ADVERTISEMENT
The Ghanaian Standard

The Ghanaian Standard is a privately own news website based in Accra, Ghana. We bring you accurate Breaking News, Trends & Top Stories in Business, Politics, Lifestyle, Technology, and more from Ghana, Nigeria, Africa, and across the globe.

GhStandard.com - News made for discerning minds ...

Google News - The Ghanaian Standard, Ghana News
  • About
  • Contact
  • Advertise

© 2021 The Ghanaian Standard - Breaking News & Top Stories in Ghana, Africa, Business, & More | Powered by YellGh - Designed by EnspireFX.

No Result
View All Result
  • Home
    • General
    • Education
    • Health
    • Social
    • Religion
    • Tech
  • Breaking News
    • Latest
    • Trending
  • Politics
    • Opinions
    • Speech
  • Sports
  • Crime
    • Legal
  • Business
    • Economy
    • Finance
    • Finance & Investment
  • Sports
  • International
    • DR Congo
    • Guyana
    • Kenya
    • Nigeria
    • South Africa
    • Qatar
  • Entertainment
    • Movies
    • Music
  • Lifestyle
    • Fashion
    • Food Related
    • Travel
  • Feature
    • Press Release
    • Profiles
    • Obituary
  • Editorial
    • Ethics and Guidelines
    • Trust and Transparency
HTML tutorial

© 2021 The Ghanaian Standard - Breaking News & Top Stories in Ghana, Africa, Business, & More | Powered by YellGh - Designed by EnspireFX.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In