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IT’S DISHEARTENING HOW AFRICA IS SUFFERING WITH SUFFOCATING DEBT – Ghana’s Finance Minister, Ken Ofori-Atta Laments

Ghana’s Finance minister, Ken Ofori-Atta asserts that about two-thirds of the economies on the continent are suffering from interest payments that surpass their budgeted allotments for health and education.

He is quoted by the New York Times as having expressed “disappointment that advanced economies had been slow to act.”

The minister as at last week was leading a government delegation to the Spring Meetings of the World Bank and International Monetary Fund (IMF) in Washington DC.

“Honestly, it is disheartening to watch Africa struggle in this way, especially considering the potential loss of productivity over the next decade should African economies buckle under the weight of suffocating debts,” Ofori-Atta said at an Atlantic Council event on April 14, 2023.
credit:ghanaweb
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