Left Menu
Development News Edition

Ghana must be mindful on rising debts, warns World Bank

Devdiscourse News Desk | Accra | Updated: 10-02-2020 16:47 IST | Created: 10-02-2020 16:47 IST
Ghana must be mindful on rising debts, warns World Bank
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.’ Image Credit: Flickr

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.

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Education post-coronavirus: Schools to rush for more digitalization

Digital education would undoubtedly boom in the post-coronavirus world, supported by educational institutions that have discovered its efficiency during the crisis, but it is still not expected to outshine traditional classroom learning....

Public health care post-COVID 19 to go for revamping, not rebooting

Until now, the economies used to classify healthcare sector under social expenditure. However, the devastation caused by COVID 19 pandemic has upgraded public healthcare on topmost priority and core economic activity for controlling future ...

Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....

COVID 19 to catalyze the redefinition of urban planning and sustainability

Until now the urban planning was focused on mitigation to natural disastrous, climate change, pollution, chronic illness and lifestyle diseases. However, the global pandemic of novel coronavirus is going to change the whole narrative of urb...

Videos

Latest News

POLL-China's factory activity seen recovering in March, but still in contraction after virus shock

Activity in Chinas vast manufacturing sector likely remained in contraction in March, though it was set to stabilise slightly from the coronavirus-led collapse that virtually paralysed the worlds second-biggest economy. Analysts have warned...

EXCLUSIVE-US investigates child labour in Ivory Coast cocoa supply chains

U.S. customs authorities have asked cocoa traders to report where and when they encounter child labour in their supply chains in top grower Ivory Coast, three industry sources said, following calls from American lawmakers to ban some import...

Coronavirus: SC staff to donate up to three days' salary to PM CARES fund

The officials and staff of the Supreme Court registry have decided to donate up to three days salary to the PM CARES fund in the wake of the coronavirus outbreak. According to a circular issued by Registrar cash and accounts Rajesh Kumar Go...

68-bed field hospital being constructed in New York City's Central Park for coronavirus patients

A 68-bed field hospital will be constructed by Tuesday in the citys iconic Central Park to help enhance New York Citys medical capacity to treat the rapidly increasing coronavirus cases. Mayor Bill de Blasio told reporters on Sunday that Mo...

Give Feedback