New report shows Ghana is in distress and may not fully pay its debts

New report shows Ghana is in distress and may not fully pay its debts

Information available to YEN.com.gh suggests that Ghana has accumulated debts and may have difficulty in repaying them.

Pulse.com.gh reports that Ghana has been named the eighth country in Africa facing a high risk of debt distress.

A report was prepared by the Economic Commission for Africa (ECA), and launched at the 52nd Session of the Conference of African Ministers of Finance, Planning and Economic Development in Marrakech, Morocco.

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According to the report, Ghana is among 10 African countries facing this high risk of debt distress.

The other countries have been named as Cameroon, Cape Verde, Central African Republic, Djibouti, Ethiopia, The Gambia, Mauritania, São Tomé and Príncipe and Zambia.

The report warns of rising public debt in Africa, which has led to increased government spending on interest payments.

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Source: Yen.com.gh

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