Ghana’s public debt is unsustainable - Ofori-Atta | 3News.com

The has said the Debt Sustainability Analysis (DSA) demonstrated unequivocally that Ghana’s public debt is unsustainable.

He said the that the government may not be able to fully service its debt down the road if no action is taken.

Indeed, he said, debt servicing is now absorbing more than half of total government revenues and almost 70% of tax revenues, while our total public debt stock, including that of State-Owned Enterprises and all, exceeds 100% of our GDP

This is why we are today announcing the debt exchange which will help in restoring our capacity to service debt.

addressing the development challenges of the country,” he said while launching the Debt Exchange programme.

The combination of adverse external shocks have exposed Ghana to a surge in inflation, a large exchange rate depreciation and stress on the financing of the budget, which taken together have put our public debt on an unsustainable

structural and fiscal reforms to restore fiscal and debt sustainability and support growth,” the Finance Minister stressed.