• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Monday, May 26, 2025
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home Ghana News

Bank of Ghana reserves decline from $9bn to $3bn – Finance Committee Report

News Reporter by News Reporter
July 22, 2022
in Ghana News
0
Bank of Ghana reserves decline from $9bn to $3bn – Finance Committee Report
274
SHARES
1.5k
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

 

A recent report by the Finance Committee of Parliament has revealed the precarious state of the country’s finances.

You might also like

Nii Armah Amarteifio Apologizes to Dr. Daly

Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly

Legal Notice: Demand for Retraction of Defamatory Publication

According to the report of the Finance Committee on Loan Facility Agreement between government of Ghana and the AfreximBank for a loan of up to $750 million, the country would have gone bankrupt without approval of this loan amount.

The Committee’s report further stated that the Bank of Ghana’s foreign reserves is being dwindled and has moved from $9 billion to about $3 billion.

These challenges are further exacerbated by the rapidly dwindling reserves of the Bank of Ghana which has declined from $9 billion to about $3 billion. With a monthly demand of over $600 million, the reserves of the central bank may be exhausted in a few months if urgent steps are not taken to shore up the countries reserves.”

According to the committee report which has been laid in Parliament and adopted by the House, the Finance Minister Ken Ofori-Atta explained to MPs that the country needed this loan amount to shore up the reserve position of the Central Bank.

“The Minister further indicated that, there is an urgent need for the government to secure the $750 million facility to help shore up the reserve position of the Bank of Ghana to avoid the country defaulting on its international commitments and also to avoid the country moving into insolvency.”

The Minister said despite the facility seeming expensive in its face, it’s a reflection of the overall market conditions.
The report mentions 11 projects the loan amount will be used to finance including the Ofankor – Nsawam road, the Suame Interchange and local road network project as well as the completion of the flower pot interchange.

Parliament has since approved the loan agreement between the government of Ghana and the African Export-Import Bank (AfreximBank).

Previous Post

Police Service Ghana’s most corrupt institution – Research

Next Post

Director of GES Reveal Parents of Shs Students Would be Paying Fees Soon—

News Reporter

News Reporter

Related Posts

Nii Armah Amarteifio Apologizes to Dr. Daly
Ghana News

Nii Armah Amarteifio Apologizes to Dr. Daly

by News Reporter
May 24, 2025
Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly
Ghana News

Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly

by News Reporter
May 23, 2025
Legal Notice: Demand for Retraction of Defamatory Publication
Ghana News

Legal Notice: Demand for Retraction of Defamatory Publication

by News Reporter
May 23, 2025
Legal Notice: Demand for Retraction of Defamatory Publication
Ghana News

Legal Notice: Demand for Retraction of Defamatory Publication

by News Reporter
May 23, 2025
The Deceptive Life of William Anarfi Sarpong – A Con Artist and Fraudster
Ghana News

Quack Dr. Wask, From Petty Criminal to Gold Fraudster – A Tale of Deception and Danger

by News Reporter
March 15, 2025
Next Post
Director of GES Reveal Parents of Shs Students Would be Paying Fees Soon—

Director of GES Reveal Parents of Shs Students Would be Paying Fees Soon—

Recommended

American Congressman Hank Johnson calls Kennedy Agyapong a Liar for falsely claiming he Apologized to him over issues surrounding the gruesome Killing of Ahmed Suale

American Congressman Hank Johnson calls Kennedy Agyapong a Liar for falsely claiming he Apologized to him over issues surrounding the gruesome Killing of Ahmed Suale

September 2, 2021
Coronavirus pandemic: Updates from around the world

Coronavirus pandemic: Updates from around the world

May 4, 2020

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

The Deceptive Life of William Anarfi Sarpong – A Con Artist and Fraudster
Ghana News

Quack Dr. Wask, From Petty Criminal to Gold Fraudster – A Tale of Deception and Danger

March 15, 2025
The Deceptive Life of William Anarfi Sarpong – A Con Artist and Fraudster
Ghana News

The Deceptive Life of William Anarfi Sarpong – A Con Artist and Fraudster

March 14, 2025
The Deceptive Life of William Anarfi Sarpong – A Con Artist and Fraudster
News

The Deceptive Life of William Anarfi Sarpong – A Con Artist and Fraudster

March 14, 2025
NDC unveils campaign team for 2024 General Elections
Ghana News

NDC unveils campaign team for 2024 General Elections

June 19, 2024
A.G Godfred Dame has engaged me at odd hours to implicate Ato Forson – Richard Jakpa
Ghana News

A.G Godfred Dame has engaged me at odd hours to implicate Ato Forson – Richard Jakpa

May 23, 2024
Artiste Profile: Frank Cole aka Zyon Ovkin
Ghana ShowBiz

Artiste Profile: Frank Cole aka Zyon Ovkin

April 20, 2024

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.