Deloitte tells govt to direct portions of additional loans into productive & self-financing projects
Published:
3 months ago
Source:
3News
Finance Minister, Dr Amin Adam
The external debt restructuring undertaken by the government has resulted in debt relief of USD4.4 billion and debt cancellation of USD4.7 billion over the course of the International Monetary Fund (IMF) programme, accounting and auditing firm Deloitte has said. This is expected to slowdown the extent of debt accumulation and the rise in Ghana's debt to GDP ratio, assuming the economy continues to expand, Deloitte stated. Ghana has targeted a debt to Gross Domestic Product (GDP) ratio of 55% by end of 2028. However, Deloitte says the resumption of debt service commitment post-IMF presents some risk to this target. Domestic debt grew by 12.7% from GHS257.3 billion to GHS289.9 billion due to the continuous disbursements from creditors.