IMF, World Bank not happy with Ghana’s debt ratio.
The International Monetary Fund and the World Bank have all expressed worry about the alarming increase in the country’s debt, saying it’s not sustainable, going forward.
They warned that the nation is gradually into the Highly Debt Distress category.
The IMF said the country’s debt will go above ¢300 billion before the end of 2021.
Per its, Ghana’s debt to GDP ratio will also surge to 83.2% in 2022, and then further to 84.8%, 86.0% and 86.6% in 2023, 2024 and 2025 respectively. It will however drop slightly to 85.5% in 2026.
The country spends about 49% of its tax revenue to settle interest payment.