Business News of Monday, 10 February 2020Source: www.ghanaweb.comWorld Bank cautions Ghana against excessive borrowingFrank Laporte, country director for World BankThe Country Director for World Bank, Frank Laporte, has warned Ghana over its borrowing rate. Amidst concerns of Ghana being classified as high debt distress country, Laporte said he is confident the Finance Ministry is aware of the effects of the borrowings. At the moment, Ghana’s debt situation according to World Bank description is a country at a moderate rate to high risk of debt distress; of course, yes, the country has to be careful,” said Mr Laporte. Speaking on Joynews’ Newfile, the Finance Minister said “I think we’re at 60 percent if you include our energy and financial services intervention you axe that and you’re around 58, 59%. The challenge really when you look at the Asian countries, etc is not that you shouldn’t borrow.

Source: GhanaWeb February 10, 2020 13:07 UTC