Ghana deserves decent deal from creditors on debt restructuring – Open Society Foundations president
The President of Open Society Foundations, Mark Malloach Brown, has maintained that Ghana deserves a decent deal from creditors when it comes to restructuring the country’s debts.
The former Head of the United Nations Development Programme said this is due to the challenge Ghana find itself can not be entirely attributed to how the economy has been managed in recent times.
But he attributed it to some strong external factors, like COVID-19 and the Russian-Ukraine war.
“Therefore any restructuring package from these creditors must be done in a way that doesn’t hurt the economy, but rather bring the county out of the current situation,” he noted.
He added, “Ghanaians, therefore, should not be punished as a result of this challenge that has hit the economy, but everything must be done to lessen the burden on them.”
Mr Brown, who was also previously responsible for directing External Affairs at the World Bank, however, admitted that it is not to say that Ghana is without fault in terms of how it has gotten into such a situation when it comes to how it has managed its borrowing over the years.
The former Deputy Secretary General at United Nations under Kofi Annan was speaking to JoyBusiness after the launch of the Debt Sustainability Initiative by the Open Society Foundation in Washington DC USA on the sidelines of the Annual World Bank Spring Meetings.
Source: Ghana News
