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By the end of July 2024, Ghana’s public debt had risen to GH¢761.2 billion, representing 75.7% of the nation’s GDP.
With total public debt now constituting a significant share of GDP, the government faces increasing pressure to address these issues and implement strategies to revitalise the nation’s economy.
This worsening debt crisis is a key reason for Ghana’s continued engagement with the International Monetary Fund (IMF), as the country seeks to stabilise its economy.
The government must act swiftly to stabilise the economy, reduce the debt burden, and restore confidence in Ghana’s financial future..
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