Posted 3/11/2024, 9:42:25 AM
Economist Questions Ghana's Growing Debt Despite Mineral Wealth
- Economist Dr John Kwakye questions why Ghana is taking on more loans when the country is already heavily indebted and bankrupt
- Parliament recently approved a $300 million loan from the World Bank aimed at supporting the First Resilient Recovery Development Policy Financing
- The minority in parliament opposed the loan agreement and asked the government to withdraw its request for a tax waiver exceeding $449 million
- Finance Minister Dr. Mohammed Amin Adam assured the minority the tax exemption requests would be revisited within 2 weeks
- Dr Kwakye believes Ghana can go beyond foreign aid if leaders take ownership of the country's natural mineral resources