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Ghana s debt to remain flat at 75% of GDP in 2024 – Fitch
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Ghana s debt to remain flat at 75% of GDP in 2024 – Fitch – Ghana Visions
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The change in the tune from ‘dumsor’ to free electricity could not have been possible without the Finance Minister designate, Ken Ofori-Atta having not been resourceful since 2017 to 2021 to meet Ghana’s financial commitments to Independent Power Producers (IPPs). Painfully yet plainly Ghanaians had to go through ‘dumsor’ partly due to government’s inability to pay IPPs to keep the lights on. We don’t have to look further for a confirmation. Under persistent pressure in 2015, the then Deputy Power Minister, John Jinapor admitted that money was partly to blame for the excruciating power challenges Ghanaians endured. The persistent unreliable power supply was compounded by bad Power Purchase Agreements (PPAs) that saddled the nation with huge debts in the energy sector. Sadly but admittedly this avoidable energy sector debt still poses a threat to the economy for adding up to the country’s debt stock.
Prudent management of economy saves Ghana from sliding back into dum-so
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