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Ghana\u2019s debt-service costs in the first half amounted to GH\u00a220.5 billion, equivalent to 68 percent of tax revenue.<\/p>\n
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Dr. Theophilus Acheampong, an economist, says the Covid-19 pandemic and the Russia-Ukraine war, have exposed fiscal recklessness in the country.<\/p>\n
\u00a0<\/strong>The economist, in an interview on the Citi Breakfast Show<\/strong>, said the nation, particularly in the past 10 years, were on a path that \u201cwas clearly unsustainable.\u201d<\/p>\n \u201cOur expenditure patterns kept increasing, and our gap and deficit had to be financed from external sources.\u201d<\/p>\n \u201cThe point is that we have been living recklessly, over the last 10 years, our fiscal finances have been pretty much in shambles. If we recall, during the Covid-19 pandemic, we were told that those who died the most were those with underlying health conditions. In our case, what the pandemic and Ukraine war have done is to expose our fiscal diabetes.\u201d<\/p>\n \u201cWe had an underlying ailment in terms of our borrowing and living unsustainably, and these two have exposed them, resulting in where we find ourselves,\u201d he explained.<\/p>\n Ghana\u2019s debt-service costs in the first half amounted to GH\u00a220.5 billion, equivalent to 68 percent of tax revenue.<\/p>\n\n\n