Professor of Finance at the University of Ghana Business School, Godfred Bokpin, has stated that he is not surprised that Ghana is back to HIPC (Highly Indebted Poor Country).
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The World Bank included Ghana in its Category of the Highly Indebted Poor Countries on its website. According to the World Bank report ,it projects Ghana’s debt to GDP which currently stands at 68.3% will hit 76.7% by the end of December 2020.
Speaking on Starr FM and monitored by Ghgossip.com ,Professor Bokpin said if the government continues to borrow and spend at the current rate the economy will feel the negative impact after the December general elections.
“I am not surprised that we are back to HIPC. It’s can be understood and it can be explained. Currently, Ghana is spending 46% of its tax revenue generated in servicing its debt and it’s one of the highest in Africa. We’ll see the real effects of this after the election,”he stated.
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Source:www.Ghgossip.com
