{"id":975493,"date":"2022-02-04T00:57:21","date_gmt":"2022-02-04T00:57:21","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/02\/04\/government-defaulting-on-maturing-debts-isaac-adongo\/"},"modified":"2022-02-04T00:57:21","modified_gmt":"2022-02-04T00:57:21","slug":"government-defaulting-on-maturing-debts-isaac-adongo","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/02\/04\/government-defaulting-on-maturing-debts-isaac-adongo\/","title":{"rendered":"Government defaulting on maturing debts \u2013 Isaac Adongo"},"content":{"rendered":"

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Ghana is broke \u2013 Isaac Adongo <\/b><\/p>\n

Ghana has since end of 2021 defaulted on debt payments \u2013 MP<\/p>\n

Government plans to raise over 75% of its financing in domestic markets for 2022<\/p>\n

Deputy Ranking Member on the Finance Committee in Parliament, Isaac Adongo, has alleged that the economic challenges Ghana is facing are dire than what government officials will want the public to believe. <\/p>\n

According to the MP, Ghana has since the end of 2021 been defaulting in payments of its debts. <\/p>\n

In a Facebook post sighted by GhanaWeb, Isaac Adongo alleged that government has requested bond holders to rollover their investment while other bonds have been restructured to afford government some breathing space. <\/p>\n

\u201cGhana has been defaulting in repaying maturing bonds since late 2021 and compelling maturing bond holders to keep these bonds for a while longer under rollovers and restructuring.\u201d Isaac Adongo wrote on Facebook.<\/p>\n

TWI NEWS<\/span><\/p>\n

The Bolgatanga Central MP in his view believes this development shows Ghana is broke beyond what the public is being made to perceive. <\/p>\n

\u201cNot only is government broke but Ghana is broke with liquidity crunch,\u201d Adongo added. <\/p>\n

<\/p>\n

Meanwhile, government plans to raise just over 75% of its financing in domestic markets for 2022. <\/p>\n

Although the move, according to market analysts, would compound the risk of a simultaneous banking crisis in the event of a default, as government debt already represents 31% of the total assets of Ghanaian banks.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ghana is broke \u2013 Isaac Adongo Ghana has since end of 2021 defaulted on debt payments \u2013 MP Government plans to raise over 75% of its financing in domestic markets for 2022 Deputy Ranking Member on the Finance Committee in Parliament, Isaac Adongo, has alleged that the economic challenges Ghana is facing are dire than […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[2723,4163,2253,1090,4103,4164],"class_list":["post-975493","post","type-post","status-publish","format-standard","category-business","tag-adongo","tag-debts","tag-defaulting","tag-government","tag-isaac","tag-maturing"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/975493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=975493"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/975493\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=975493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=975493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=975493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}