Ghana risks repeating post-HIPC debt mistakes – Prof Bokpin
Economist Professor Godfred Bokpin has warned that Ghana could repeat the mistakes of the past if it fails to properly manage the fiscal space created by recent debt restructuring and expenditure controls.
Ghana's economist Professor Godfred Bokpin has cautioned that the country risks repeating the post-HIPC debt mistakes if fiscal management is not prioritized following recent debt restructuring and expenditure controls. He highlighted that Ghana was nearing a similar stage as in 2006 when the country completed the Heavily Indebted Poor Countries (HIPC) programme and experienced significant debt relief.
Bokpin emphasized that the current improvement in Ghana's debt situation should be viewed as a chance to build a stronger, more sustainable economy rather than a reason to increase spending and borrowing. He stressed the importance of using the current fiscal improvement to strengthen economic management systems and prevent a cycle of excessive borrowing and debt accumulation.
Brief written by urgent.news from MyJoyOnline Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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