Ghana Sets For Fresh External Borrowing

The President of Ghana, Nana Akufo-Addo has said the country will soon resume borrowing, as the country grapples with its worst economic crisis in a generation.

President Akufo-Addo said at the Qatar-Africa Economic Forum in Doha stressed that the country would maintain the discipline which is required following last week’s $3bn bailout by the International Monitory Fund (IMF).

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His comments come as the country is still negotiating with external creditors hoping for debt relief of about $10.5bn.

The country was shut out of the international capital market because of its huge debts but can now have access as a result of the bailout.

President Akufo-Addo has indicated that the government will cut its expenditure and mobilise more domestic revenue.