Senior Lecturer at the University of Ghana Business School, Dr. Lord Mensah has described Ghana’s current debt stock as a threat.
This is because the chunk of the country’s debt is mostly foreign which is more than the local composition.
Ghana’s current debt stock stands at 255.7 billion cedis, a jump from 120 billion cedis as of 2016.
Reacting to the Mid-Year – Budget Review presented to Parliament yesterday, Mr. Mensah said looking at the country’s situation any form of continuous depreciation of the cedi will put the country on the edge.
Mr. Mensah was also not happy how some of the money borrowed were channeled into social interventions.