Business News of Wednesday, 2 June 2021Source: www.ghanaweb.com• The COVID-19 pandemic has burdened Ghana with some GH¢21 billion, says former deputy finance minister• About GH¢18 billion of it was funded through borrowing• The rest were raised through grants and money from the Stabilisation FundThe coronavirus pandemic has cost Ghana GH¢21 billion, the nominee for Minister of State at the Finance Ministry, Charles Adu Boahen, has disclosed. The nominee stated that GH¢18 billion of the total amount was funded through borrowing as the rest were raised through grants and the Stabilisation Fund. “COVID-19 cost us [Ghana] about GHS21 billion. Of that amount, about GH¢18 billion of it was funded through borrowing, and the rest came to us as grants, [along with] some monies from the Stabilisation Fund.”Mr. Adu Boahene further indicated that the GH¢21 billion COVID-19 cost represented 13% of Ghana’s GPD. The US$3 billion Eurobond raised by the country in March 2021 also accounted for this jump in the debt.

Source: GhanaWeb June 02, 2021 15:33 UTC