Ghana Faces Heavy External Debt Payments, Finance Minister Reveals

Ghana faces heavy external debt payments, Finance minister reveals. Ghana’s Finance Minister, Cassiel Ato Baah Forson, has warned that the country faces significant external debt servicing costs over the next four years.

Speaking in his first budget presentation to parliament on Tuesday, Forson revealed that Ghana will need to pay $2.5 billion in 2027 and $2.4 billion in 2028, amounting to a total of $8.7 billion (10.9% of GDP) within the period.

He also noted that no financial buffers had been put in place to ease the burden.

Ghana Faces Heavy External Debt

Ghana is recovering from its worst economic crisis in decades, triggered by the COVID-19 pandemic, the war in Ukraine, rising global interest rates, and years of excessive borrowing.

Meanwhile, President John Dramani Mahama, who assumed office in January, has pledged to revive the economy and create jobs while addressing challenges such as high living costs, an ongoing IMF bailout, and a sovereign debt default in the country’s cocoa and gold sectors.

President Trump Imposes New Tariffs On Canada, Declares Electricity National Emergency

President Trump imposes new tariffs on Canada, declares electricity national emergency. U.S. President Donald Trump has announced a new tariff on Canadian imports, alongside plans to declare a national emergency on electricity in some parts of the United States.

Trump stated that he has directed the Secretary of Commerce to impose an additional 25% tariff, bringing the total to 50%, on all steel and aluminum imports from Canada.

The move follows Ontario’s decision to place a 25% tariff on electricity exports to the United States.

In a post on his Truth Social account, Trump confirmed that the new tariffs would take effect on March 12.

Additionally, he demanded that Canada immediately remove its tariffs of 250% to 390% on various U.S. dairy products, calling them “outrageous”.

He warned that if Canada does not drop its longstanding tariffs on American goods, he would increase tariffs on Canadian automobiles on April 2, a move he claimed could effectively shut down Canada’s auto manufacturing industry.

Trump further argued that Canada relies heavily on the U.S. for military protection, asserting that America is “subsidizing Canada by over $200 billion annually”.

President Trump

In a bold statement, he suggested that Canada should become the 51st U.S. state, which he claimed would eliminate tariffs, lower taxes for Canadians, enhance security, and strengthen both nations.

He concluded by stating that the U.S.-Canada border would no longer be an issue, and the Canadian national anthem, “O Canada,” would still be recognized—but as part of a “great and powerful state within the United States.”

U.S. Judge Orders Elon Musk’s DOGE To Disclose Records On ‘Secretive’ Operations

U.S. Judge orders Elon Musk’s DOGE to disclose records on ‘secretive’ operations. A U.S. judge on Monday directed Elon Musk’s Department of Government Efficiency (DOGE) to release internal documents, citing concerns over the agency’s “unusual secrecy” in its efforts to downsize the federal government.

Since returning to the White House in January, President Donald Trump has launched an aggressive campaign to cut public spending and shrink federal agencies.

As part of this initiative, he appointed Musk, a key campaign donor turned senior adviser, to lead DOGE, which has overseen massive job cuts and agency restructurings—sparking multiple lawsuits.

U.S. District Judge Christopher Cooper stated that DOGE’s broad authority and sweeping budget reductions without congressional approval were unprecedented.

He emphasized that the agency’s rapid and discreet operations necessitate swift public access to information about its structure and decisions.

Transparency and Legal Challenges
“The speed at which DOGE is making these drastic changes, combined with its secrecy, warrants immediate disclosure of its internal workings,” Judge Cooper wrote in his ruling.

He further noted that DOGE is “likely subject” to the Freedom of Information Act (FOIA) and warned that withholding these records indefinitely would cause irreparable harm to the public.

DOGE

Last week, President Trump responded to mounting criticism over the historic scale of government cuts, stating that DOGE’s measures should be “carefully targeted.”

Under Judge Cooper’s order, the administration must submit a status report on document production by March 20 and collaborate with plaintiffs on a joint timeline by March 27.