Tag: debt relief
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COVID-19 must trigger a change in the structure of Ghana’s economy – Ken Thompson
The Chief Executive Officer of Dalex Finance, Ken Thompson, says the level of exposure of Ghana’s economy in the wake of the coronavirus pandemic, should trigger a transformation of the country’s economic structure to make it resilient. Ghana is still classified at high risk of debt distress with a current debt of 218 billion cedis,…
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David Pilling writes: Why we should be selfish and provide Africa debt relief
African governments are asking for a debt standstill in the face of coronavirus. The poorest countries want substantial portions of their borrowing to be wiped clean. Critics will cry “moral hazard” and point out that we have been here before. From 1996, when a big debt relief campaign was launched by the World Bank and…
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It’ll cost us dearly if we misuse $1bn IMF loan; Adu Sarkodie urges efficiency
An Economist, Dr. Adu Owusu Sarkodie, has stated that inasmuch as concerns about Ghana’s rising debt stock are legitimate following the International Monetary Fund’s (IMF) approval of One Billion dollars for the country’s COVID-19 fight, the focus should rather be on the efficient use of the money. The amount, which is to be drawn under…
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Gov’t must be tactical in seeking for debt relief from China – Peter Quartey
Economist, Prof. Peter Quartey, has urged government to be tactical in seeking for debt relief from China to ease the pressure on Ghana due to the fight against COVID-19. According to him, singling out China could send a wrong signal especially as the virus emanated from the Asian country. In a recent interview with a…
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COVID-19: Finance Minister urges China to consider debt relief for Africa
Ghana’s Finance Minister, Ken Ofori-Atta, has urged China to help ease the debt burden of African countries expected to struggle with the economic impact of the coronavirus pandemic. He has already indicated that the cumulative effect of the novel coronavirus pandemic will cost Ghana GHS9.505 billion. Speaking to a US-based think-tank, the Center for Global…