{"id":154970,"date":"2025-03-11T15:26:17","date_gmt":"2025-03-11T14:26:17","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/ghana-faces-significant-external-debt-service-minister"},"modified":"2025-03-25T19:28:22","modified_gmt":"2025-03-25T18:28:22","slug":"ghana-faces-significant-external-debt-service-minister","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister","title":{"rendered":"Ghana faces significant external debt service \u2013 Minister"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>Ghana\u2019s Finance Minister, Cassiel Ato Baah Forson, on Tuesday said that the nation faced significant external debt service costs over the next four years.<\/p>\n<p>Forson told parliament this in his first budget speech.<\/p>\n<p>According to him, Ghana will have to pay $2.5 billion in 2027 and $2.4 billion in 2028.<\/p>\n<p>\u201cThe next four years, we\u2019ll be called upon to pay $8.7 billion, representing 10.9% of GDP, with heavy concentration in the years 2027 and 2028.<\/p>\n<p>\u201cIn spite of all these upcoming domestic and external debt service obligations, no buffers were built to cushion this unprecedented debt service burden,\u201d Forson said.<\/p>\n<p>It was gathered that the West African nation is emerging from its deepest economic crisis in a generation, resulting from the COVID-19 pandemic, the war in Ukraine, higher global interest rates, and years of excessive borrowing.<\/p>\n<p>Meanwhile, President John Dramani Mahama, who took office in January, has vowed to boost the economy and create jobs.<\/p>\n<p>Mahama faces the fallout of a cost-of-living crisis, an ongoing bailout from the International Monetary Fund, and a sovereign debt default in the cocoa- and gold-producing nation.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. Ghana\u2019s Finance Minister, Cassiel Ato Baah Forson, on Tuesday said that the nation faced significant external debt service costs over the next four years. Forson told parliament this in his first budget speech. According to him, Ghana will have to pay $2.5 billion in 2027 and $2.4 billion in 2028. \u201cThe next [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":154969,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[711,254],"class_list":["post-154970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-ghana","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ghana faces significant external debt service \u2013 Minister - Nigeria<\/title>\n<meta name=\"description\" content=\"Ghana\u2019s Finance Minister, Cassiel Ato Baah Forson, on Tuesday said that the nation faced significant external debt servi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana faces significant external debt service \u2013 Minister\" \/>\n<meta property=\"og:description\" content=\"Ghana\u2019s Finance Minister, Cassiel Ato Baah Forson, on Tuesday said that the nation faced significant external debt servi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-11T14:26:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-25T18:28:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/03\/sm_1741697201.235321.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ghana faces significant external debt service \u2013 Minister\",\"datePublished\":\"2025-03-11T14:26:17+00:00\",\"dateModified\":\"2025-03-25T18:28:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister\"},\"wordCount\":195,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/03\/sm_1741697201.235321.jpg\",\"keywords\":[\"Ghana\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/ghana-faces-significant-external-debt-service-minister\",\"name\":\"Ghana faces significant external debt service \u2013 Minister - 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