A leading member of Centre for Socioeconomic Studies (CSS), Albert Wotorgbui, has predicted more woes for Ghana’s economy as he reveals the maturity of the Eurobond.
In a post shared on his official Facebook page Albert Wotorgbui wrote;
“This $1.5 billion Eurobond maturing on September 15, 2022 will swallow up the $750 million and a huge chunk of the expected $1.3 billion cocoa syndicated loan; that’s even if it will come in before the Eurobond maturity date. More woes for the Cedi and the economy.”
He added that, there is a possible default staring Ghana in the face.
Background
Ghana has a total of $1.5 billion Eurobonds maturing on September 15, 2022. This is expected to exert more foreign exchange demand pressure on Ghana, thus further pressure on the Cedi.
The Ministry of Finance annouced that they have recieved $750million from the Afrexim cocoa development loan. Following that, Bank of Ghana has announced that it will help stabilize the depreciating cedis.
Content created by: Currentworldnews
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