Economist optimistic Country’s rising ‘high risk debt, can be resolved


Professor Peter Quartey

By Nathaniel Nartey

Ghana has been ranked among 10 countries with ‘high-risk debt exposure’.

This was revealed in a financial report by the International Development Association for the World Bank.

This means the country has difficulties settling its debt which is pegged at 5 point six billion dollars. Despite this, the Director of the Institute of Statistical, Social and Economic Research, ISSER at the University of Ghana Prof Peter Quartey has asked Ghanaians not to worry.

This is because government is taking steps to resolve the country’s high debt burden.

He pointed to the migration of tax payments online as one of the measures being taken by government to address the issue.

Five African countries are on the list of high debt risk exposure, with Nigeria ranked 5th, the highest on the continent with eleven point seven billion dollars debt stock.

Prof Quartey explained why he thinks it is justified for these countries to be on the list.

Source link