John Mahama has done all he can with this country of ours. Mounting corruption, dumsor, increased cost of living, you name it and he has done it. So far I can say the only thing he has not done is get Ghana back to being a HIPC country, oh wait…
The mounting levels of Ghana’s public debt means as at this moment, our dear homeland is a Highly Indebted Poor Country. Our debt to GDP ratio now stands at 71%, according to figures released by the Bank of Ghana. All that means is that our debts stand at 71% of our total value as an economy, or our gross domestic product.
According to World Bank parameters, a nation is considered HIPC if debt to GDP ratio crosses that 70% barrier.
The last time Ghana was classified HIPC was in 2001, before the NPP government steered us out of it.
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As it stands now, if our debt was shared equally amongst the 20-something million Ghanaians, each and every one of us owes Ghc 3,600.
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