According to a banking specialist, if the financial managers do not take necessary action, Ghana’s economy could experience a recession.
Dr. Richmond Atuahene claims that if conditions don’t line up just so, 2023 will be very challenging due to the nation’s high debt levels, which have forced debt restructuring.
“It won’t be simple for us. Everyone is talking, but they haven’t considered the debt-restructuring process, so it’s going to be very difficult. According to him, it alone may have a devastating impact on the economy and cause a recession. This was reported by myjoyonline.com.
Dr. Atuahene continued by saying that when recessions strike, the affected nations are unable to quickly recover.
He claims that the 2023 budget’s debt-related policies, such as debt reduction, debt profile, debt restructuring, debt rescheduling, and debt swap, impede cash flow and that businesses will suffer as a result.
Professor Williams Peprah, a financial analyst, has meanwhile said that the government shouldn’t carry out debt restructuring in a way that deters investors from investing.
He claims that under the potential model, interest payments might be delayed while principal is being paid.
