\n
Ghanaians have been advised to brace themselves for further hardships this year due to the government\u2019s ongoing debt restructuring programme and other policies.\u00a0<\/p>\n
This, according to the Ranking Member on Parliament\u2019s Finance Committee Dr Cassiel Ato Forson, is because the programme will compel the country to record one of the worst non-oil GDP growths in the nation\u2019s history.\u00a0<\/p>\n
According to him, the debt exchange programme will have a negative impact on the economy which will in turn bring hardships on the citizenry.\u00a0<\/p>\n
In a Facebook post on Tuesday, January 3, Dr Forson added that the \u201chaircuts\u201d on domestic and Eurobonds will also have an adverse impact on the banking sector and local businesses.\u00a0<\/p>\n
\u201cThis year, Ghana\u2019s economy will record one of the worst non-oil GDP growths due to the impact of the debt restructuring and a plethora of extremely tough fiscal and monetary policies.\u00a0<\/p>\n
\u201cThe haircut on domestic bonds and Eurobond is expected to adversely impact the health of the banking sector, local businesses, and individuals! Also, Bilateral debt restructuring will lead to government\u2019s foreign financed projects being abandoned,\u201d the Ajumako Enyan Essiam MP said.\u00a0<\/p>\n
The former Deputy Finance Minister also said there will be mass layoffs this year.\u00a0<\/p>\n
He attributed this prediction to the government\u2019s freeze on employment for the year.\u00a0<\/p>\n
\u201cUnemployment will worsen due to the freeze on employment, debt restructuring, poor business climate, and massive austerity.\u00a0<\/p>\n
\u201cGhana will default in the payment of interest and principal on domestic bonds, Eurobonds, and most of our bilateral loans in 2023.<\/p>\n
\u201cThis will be compounded by the following:\u00a0Expected layoffs from the financial sector due to the impact of the debt restructuring and expected layoffs from gov\u2019t foreign financed projects,\u201d he added.\u00a0<\/p>\n
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Ghanaians have been advised to brace themselves for further hardships this year due to the government\u2019s ongoing debt restructuring programme and other policies.\u00a0 This, according to the Ranking Member on Parliament\u2019s Finance Committee Dr Cassiel Ato Forson, is because the programme will compel the country to record one of the worst non-oil GDP growths in […]<\/p>\n","protected":false},"author":1,"featured_media":1007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1006","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n
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