Dr. Frank Bannor, Director of Research at Danquah Institute, has analyzed Ghana’s Eurobond history and revealed that under President Nana Addo and Finance Minister Ofori Atta’s leadership, the highest coupon rate was 8.95% in 2019.
This rate is notable as the second-best achievement by the opposition National Democratic Congress (NDC) in terms of managing the country’s debt.
Dr. Bannor’s research highlights that the highest coupon rate in Ghana’s history was a staggering 10.75% in 2015, during the Mahama administration.
Furthermore, in 2016, Ghana’s Eurobond interest rate was 9.25%, the second highest at the time. These high interest rates indicate a period of high borrowing costs for the country, by the erstwhile Mahama’s administration.
Dr. Bannor spoke on Movement In The Morning show on Movement TV, with Kwaku Dawuro.
The researcher emphasized that the period between 2015 and 2016 was particularly challenging for Ghana’s economy, with the country experiencing its worst coupon rates in the Eurobond market.
This suggests that the current administration has made progress in managing the country’s debt and reducing borrowing costs.
Dr. Bannor’s analysis provides valuable insights into Ghana’s economic history and the management of its debt. His research highlights the importance of responsible borrowing and effective debt management in ensuring the country’s economic stability and growth.”