“Ghana’s debt is projected to increase to 104.6% of GDP from 76.6% a year ago as a result of a widening budget deficit, a sharp decline in the value of the cedi, and rising debt payment costs. The debt of the nation is anticipated to stay high, coming in at 99.7% and 101.8% of GDP in 2023 and 2024, respectively.
The sovereign spread has increased by 233 basis points since December 2021 as a result of tightening financial conditions globally and a decline in the local currency.
The report stated that “as a result, the country lost access to foreign markets.”
Investors are still concerned about the sustainability of the country’s debt, the study said, “despite the negotiations with the IMF.
According to the World Bank, Ghana requires $1.5 billion in IMF aid, which might help to shore
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