July 15, 2024
PDF Print E-mail

12 October - The Fall and Rise of Ghana’s Debt

Wednesday, 12 October 2016 00:00

GhanaJubilee Debt Campaign, along with the Integrated Social Development Centre, SEND Ghana, Vazoba, Kilombo, AANCLID and the Abibimman Foundation, have published a new report on Ghana’s debt situation.

The report reveals that the World Bank broke its own rules to guarantee 10.75% interest loans to Ghana. It shows how Ghana is in a new debt crisis just a decade after having significant amounts of debt cancelled by international lenders. While debt cancellation in 2004 and 2005 gave the country breathing space to increase spending on public services, the commodity price crash and currency shocks since 2013 have seen debts rapidly building up once again.

Read the full Jubilee Debt Campaign press release and the executive summary and full report here.

This issue has also been covered in The Guardian newspaper.


Sign Up E-Newsletter


Where We Work