The International Monetary Fund ranks Ghana as the second most indebted African country in terms of concessional lending. The IMF stated in its quarterly financial report that Ghana owes them $2.194 billion as of October 31, 2024. This accounts for 17% of the overall African borrowing from the institution.

The Democratic Republic of the Congo led the standings with $2.256 billion. Zambia took third place with $1.272 billion. This announcement by the IMF comes as Ghana faces difficult economic conditions and a power transition period.

Mahama merely became president a few days ago and has yet to establish his administration. He has already experienced a cash shortfall. He would begin in a difficult situation, offering services to the people of Ghana while also servicing the massive loan.

To avoid burdening taxpayers with excessive taxes, the government should limit borrowing and endeavor to repay outstanding loans. What are your thoughts on this revelation? Please share your ideas in the comments area below.


https://x.com/tv3_ghana/status/1877296937369567673?t=4-d1wPTVapIj6jhEwNIVJQ&s=19