From Ghana Web
The recent discovery of supposed massaged economic figures by the International Monetary Fund (IMF) could lead to sanctions against the Government of Ghana. A similar incident was said to have occurred in 2000 earning government some punishment in 2001.
Economic analysts have hinted that the supposed massaging of economic figures was deliberate and intended to hide the true state of affairs of the country from the Bretton- Woods and also to cover up the gravity of the rot in Ghana’s economy.
On Wednesday, Sanjeev Gupta, Deputy Director, Fiscal Affairs Department of IMF, said Ghana’s debt profile was over 70 percent of GDP and not 55 percent as claimed by the Bank of Ghana (BoG).
“First of all, the debt-to-GDP ratio in Ghana is 71 percent, not 60 percent so it is much higher than you mentioned.”
Ghana has been caught in huge debt repayment three times than the proceeds from oil revenue, a situation the IMF said was unsustainable.
An IMF delegation, led by Joël Toujas-Bernaté, was in the country to collect information before the actual negotiations during the annual meetings.
Read more at Ghana Web
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