Ghana’s GH¢43.9b debt level not worrying - Economist

Economist, Professor Peter Quartey says Ghana’s current debt level should not be too much of a worry.

He says since the debt to GDP ratio is within range, the economy will not be impacted.

He is however urging Ghanaians to show concern about what the borrowed monies are used for.

Ghana’s public debt stock hit 43.9 billion Ghana Cedis at the end of August, about 49.5 percent of GDP, a situation policy think tank, the Danquah Institute is unhappy.

Professor Quartey tells XYZ BUSINESS Ghana’s current debt level is not above the borrowing threshold.

“That should not be too much of a problem so long as we are within our debt indicators…we should be comparing the debt to GDP ratio and see how that ratio is. I know that we are within a reasonable limit”

He added “what we should be concern about is how the money is used that is for us Ghanaians we should be much concerned that the monies contracted are used for. Are they invested or put into productive use or they are contracted for unproductive use.”

Professor Quartey agreed with policy think tank, the Danquah Institute for a dialogue on how to manage the country’s rising debt.