A former Deputy Minister of Finance, Cassiel Ato Forson says Ghana’s debt is unsustainable making debt restructuring unavoidable as the country’s “public debt to GDP is now about 100 percent”.
A tweet by the Ajumako lawmaker disclosed that government has finally been forced to add all the key elements in calculating public debt in terms of GDP ratio as part of the IMF negotiation.
“After calling the minority names because I insisted they add the ESLA and GETFund bonds plus cocoa bills and Sinohydro to the public debt, Govt has finally agreed as part of the IMF negotiation to add all of them! he tweeted.
The Ministry of Finance on Monday announced that the IMF delegation is currently undertaking a comprehensive debt sustainability analysis of the country.
“the Government of Ghana is putting together a comprehensive post-Covid-19 economic programme which will form the basis for the IMF negotiations.”
“The programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability, underpinned by key structural reforms and social protection.”
“Government remains committed, and shall continue to actively engage all stakeholders, both public and private, in a clear and transparent manner as we seek to fast-track this process.”
