Ghana could return to HIPC - CEPA warns

The Centre for Policy Analysis (CEPA) has warned that the country could return to HIPC if government does not control its borrowing and spending.

Between four to five percent of the country’s national income will be used to service debt this year.

Ghana’s public debt stock hit 33.5 billion Ghana Cedis, 46.7 percent of GDP last year.

Executive Director, Joe Abbey in an interview with XYZ News said the country cannot continue to spend large amount of monies to service debts.

He added that neither oil revenue nor further tax increases can offset the huge expenditure.