Business News of Thursday, 16 January 2020Source: classfmonline.comGhana's fiscal position 'very bad' – EconomistDr Said Boakye is worried about the rate at which Ghana is borrowingAn economist, Dr Said Boakye, has expressed concern about the fiscal position of the country, saying the rate and quantum of borrowing by the government is alarming. According to him, “The country’s fiscal position is very bad”, wondering: “How are we paying for it?”“You are borrowing money to do so, and we are going to be paying interest on that and you are going to pay for those who cannot pay for it. The government of Ghana borrowed GHS4.2 billion in notes and bonds in December 2019. The International Monetary Fund, in its recent assessment of Ghana said the country is closer to being classified as a high-debt-distressed country. The IMF report noted that the risk of debt distress rating in the Debt Sustainability Analysis (DSA) remains high.

Source: GhanaWeb January 16, 2020 09:45 UTC