{"id":107061,"date":"2025-12-16T05:19:00","date_gmt":"2025-12-16T05:19:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=107061"},"modified":"2025-12-16T05:19:00","modified_gmt":"2025-12-16T05:19:00","slug":"gh%c2%a271bn-debt-rise-in-the-midst-of-relatively-stronger-cedi-makes-no-sense-gideon-boako","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=107061","title":{"rendered":"GH\u00a271bn debt rise in the midst of relatively stronger cedi makes no sense \u2013 Gideon Boako"},"content":{"rendered":"
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The Deputy Ranking Member on Parliament\u2019s Finance Committee, Dr Gideon Boako, has challenged the Finance Minister over claims that exchange rate pressures are responsible for the recent surge in Ghana\u2019s public debt.<\/p>\n

Writing under the headline \u201cDouble-tongued Minister for Finance,\u201d the Tano North MP accused the government of contradicting itself by praising currency appreciation when debt levels decline, while blaming the same factor when debt figures rise.<\/p>\n

\u201cThey were bragging that the stronger cedi helped to reduce the debt stock, so why this contradiction?\u201d he asked.<\/p>\n

According to him, the assertion that currency appreciation directly drives up debt lacks economic justification.<\/p>\n

He maintained that while exchange rate movements can have indirect effects, they do not logically explain a sharp rise in the debt stock.<\/p>\n

\u201cI am still struggling to understand how appreciation causes debt to go up,\u201d he stated.<\/p>\n

Dr Boako noted that the foreign-denominated debt stock at the end of 2024 was calculated using an exchange rate of GH\u00a214.3 to the dollar, compared to the current rate of roughly GH\u00a211.4.<\/p>\n

Despite the cedi\u2019s relative strength, he said the debt stock has increased, raising serious questions about the Finance Ministry\u2019s explanation.<\/p>\n

He stressed that the depreciation recorded over the last three months alone cannot account for an increase of more than GH\u00a271 billion in debt.<\/p>\n

\u201cThis clearly shows a complete lack of understanding of the debt dynamics,\u201d he said, calling on the Finance Minister to return with a more accurate and transparent account of the figures.<\/p>\n<\/div>\n

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\"DrThe Deputy Ranking Member on Parliament\u2019s Finance Committee, Dr Gideon Boako, has challenged the Finance Minister over claims that exchange rate pressures are responsible for the recent surge in Ghana\u2019s public debt.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[305,2652,563,1883,10,9],"tags":[],"class_list":["post-107061","post","type-post","status-publish","format-standard","hentry","category-ato-forson","category-debt","category-gideon-boako","category-national","category-politics","category-popular"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/107061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=107061"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/107061\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=107061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=107061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=107061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}