Ghana, 3 others face large financing needs, debt servicing costs – World Bank warns

The World Bank continued that several governments in Sub-Saharan Africa have undertaken politically difficult reforms in recent years, including fuel subsidy removal, exchange rate liberalisation, fiscal consolidation, and efforts to strengthen domestic revenue mobilisation.“Although inflation has moderated across much of the region, it remains susceptible to exchange rate depreciations, food price shocks, and fiscal slippages, particularly in countries with elevated debt levels and limited policy buffers", the World Bank mentioned.

Large financing needs and debt-servicing costs could limit public investment and social spending in Ghana and three other African countries, the World Bank has warned.