Ghana must be mindful on rising debts, warns World Bank

The World Bank has urged the government of Ghana to be alert about the rate at which it borrowed from the international community. Read the texts below to know more in details.

In Ghana’s capital, Accra, the Country Director of World Bank in Ghana, Frank Laporte has described as ‘moderate to high risk of debt distress’ Ghana's debt situation, expressing confidence in the Finance Minister, Ken Ofori-Atta and his team having been fully made aware of this.

According to World Bank’s Frank Laporte, borrowing isn’t always a bad thing but it should be done ‘on right terms, most favourably as possible and in the right amount and in the right way.’ APA News said that Laporte said the above-mentioned statement while paying a courtesy call on Speaker of Parliament, Professor Mike Oquaye who also cautioned the World Bank utilizing aid to pressure developing countries into accept tendencies like homosexuality.

Laporte, a Seychellois has been the World Bank’s Country Director for Ghana, Liberia, and Sierra Leone since July 1, 2019. He also served as Country Director for Benin, Burkina, Côte d’Ivoire and Togo.