By William Owusu Boateng
Country Director of the World Bank, Pierre Laporte says Ghana’s rising debt in the wake of the Covid-19 pandemic requires efforts not only from creditors, but also tax payers and beneficiaries of government services to help fix it.
He tasked managers of the economy to lay out a roadmap to return the country’s economic growth to a state of equilibrium which does not undermine social protection and other key state interventions.
Management of Ghana’s Debt Stock
Mr Laporte was speaking in Accra at the opening of the 73rd Annual New Year School at the University of Ghana, Legon.
According to the World Bank Country Director, despite the devastating impact of Covid-19 on the economies of developing countries, ”Ghana’s fiscal condition exhibited signs of fragility even before the disease hit the world owing to high levels of borrowing which did not match the country’s revenue returns”.
He spelt out the role of the World Bank towards the process of recovery, and said the options are available.
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