POLITICS

Stop spending on National Cathedral is a “vanity project” because of the economic crisis – Occupy Ghana

Given that Ghana is experiencing an economic crisis, OccupyGhana has advised the government to halt all public spending on the projected National Cathedral. The organization stated in a statement that “any justifications there may have been to warrant investing now non-existent money on the projected National Cathedral, have been destroyed …

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Don’t touch our pension fund – GNAT to gov’t

The Ghana National Association of Teachers (GNAT) has entered the ongoing discussion about the upcoming Debt Exchange Program that the government plans to implement. The teachers claim that they are interested participants in the domestic bond market, which is supported by the Teachers Fund and its subsidiaries as well as …

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S&P Global downgrades Ghana from CCC+ to CC

S&P Global stated in a statement on Tuesday that default is now a “virtual certainty” and downgraded Ghana’s long-term local currency bonds to “selective default” in addition to lowering the country’s foreign currency debt to “CC” from “CCC+.” The downgrading of the foreign currency bonds comes in response to the …

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