Posted 4/8/2024, 9:17:11 AM
Ghana's Public Debt Soars Over 600B Cedis After IMF Bailout, But Cedi Depreciation Threatens Economic Recovery
- Ghana's public debt has increased by 30.5 billion cedis to 610 billion cedis after IMF bailout deal
- Debt growth mostly due to cedi depreciation, though dollar debt decreased by $4 million
- Ghana sought IMF bailout due to economic crisis caused by fiscal instability, COVID-19, global events
- Initial positive assessments after IMF deal, but growing concerns over cedi depreciation in 2024
- Cedi depreciation could undo economic progress and require more debt, need solutions
