Ghana has been ranked 2nd in the world by Bloomberg with the highest debt default risk.
The debt to GDP, is estimated at 84.6% by the end of this year. This indicates that the nation’s debt will surpass ¢400 billion.
Together with Brazil, Ghana’s interest expense to GDP is projected to hit seven-point-two percent in the period under review, the highest among the 25 countries, captured by Bloomberg.
This means the two countries will spend more money to service their debt. The International Monetary Fund, IMF has warned that more than 30% of emerging and developing countries are near debt distress, with 60% from developing economies.
