Nana Addo is burying Ghana in debt — American economist Prof Hanke

American economist and professor of applied economics at the Johns Hopkins University in Baltimore, Maryland, has criticized Economist Professor Steve Hanke has criticized President Nana Addo Dankwa Akufo-Addo, accusing him of intentionally leading Ghana into a debt crisis.

In an X post, he said Ghana is wallowing in debt due to deliberate actions taken by the President.

Despite a GH¢14.2 billion reduction in public debt from June to September 2023, the country's total debt remains high at GH¢567.3 billion ($51.0 billion), constituting 66.4% of GDP.

The fluctuation is attributed to minor currency gains and a pause in international borrowing.

The November 2023 Summary of Economic and Financial Data reported the revised debt at GH¢581.5 billion in June, rising to GH¢584.4 billion ($53.0 billion) by August 2023.

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