{"id":256363,"date":"2024-11-27T10:11:24","date_gmt":"2024-11-27T10:11:24","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/27\/ghanas-exports-could-be-seized-sold-to-defray-huge-debts-atuahene-warns\/"},"modified":"2024-11-27T10:11:24","modified_gmt":"2024-11-27T10:11:24","slug":"ghanas-exports-could-be-seized-sold-to-defray-huge-debts-atuahene-warns","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/27\/ghanas-exports-could-be-seized-sold-to-defray-huge-debts-atuahene-warns\/","title":{"rendered":"Ghana\u2019s exports could be seized, sold to defray huge debts \u2013 Atuahene warns"},"content":{"rendered":"

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\"Banking Banking Consultant, Dr. Richmond Atuahene<\/span><\/span><\/p>\n<\/div>\n

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Banking consultant, Dr. Richmond Atuahene, has warned that the country\u2019s exports on international shipping lanes could be seized and sold to lenders over failure to settle debts when they are due within the next two years.<\/p>\n

Dr. Atuahene’s comments were a rebuttal to the Minister of Finance, Dr. Mohammed Amin Adam\u2019s assertion that the economy was rebounding after a difficult phase.<\/p>\n

\u201cGhana\u2019s economy has come back to life following the difficulties we faced in the last three years. Macroeconomic stability is fast returning to our country. We all can see the indicators improving by the day,\u201d Amin Adam had said in Saboba in the Northern Region a few days ago.<\/p>\n

Speaking on Morning Starr, Dr. Atuahene questioned the basis for such a glossy picture painted about the economy and cautioned that things could get much worse if the country was unable to settle debts owed to international creditors.<\/p>\n

\u201cWhether you capture it or not, you have a duty to service it,\u201d he said of the foreign loans.<\/p>\n

\u201cThat is what we should be thinking of because they are not grants, they are something you have to pay.\u201d<\/p>\n

\u201cSomething happened in Argentina. They were shipping some goods to Europe. Do you know that somebody in New York was able to take the commodity and sell it to pay for his debt because he saw that the way the debt had been rescheduled, there was no way he was going to be paid.”<\/p>\n

\u201cThey will use crude tactics and the World Bank can\u2019t do anything about it, especially when you\u2019re shipping your cocoa. It will be intercepted on the high seas and somebody will go and sell it because you owe him,\u201d Dr. Atuahene said.<\/p>\n

He added that the foreign creditors were not charities who were going to forgive the debts owed to them.<\/p>\n

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