Adnan Adams Mohammed
As part of Ghana Government and International Monetary Fund (IMF) negotiation, the country’s debt is likely to hit 100 percent of Gross Domestic Product (GDP) as government has agreed to consolidate all its debt.
The IMF has asked government to include, energy sector debt, GETFund, Sinohydro, and cocoa loans to the public debt. The country’s debt stock increased to US$393.4 billion, 78.3 percent of GDP as at June, 2022.
The current debt is minus the energy sector debt, GETFund, Sinohydro, and cocoa loans which the IMF have asked government to add to the total debt stock.
“Our debt is unsustainable making debt restructuring unavailable!”, Dr Ato Forson, ranking member on finance has said in a social media post.
He preceded his comment with an information that, “After calling the minority names because I insisted they add ESLA and GETFund bonds plus cocoa bills and Sinohydro to the public debt, Government has finally agreed as part of the IMF negotiations to add all of them! Our public debt to GDP is now about 100%.”
