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Ghana back to HIPC: Who made that official declaration? – Kweku Baako queries Mahama

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Seasoned Journalist, Abdul Malik Kweku Baako has slammed former President and NDC Presidential candidate, John Dramani Mahama over his HIPC comments.

Engaging some professionals at the La Palm Royal Beach Hotel in Accra on Monday, 26th October 2020, former President John Mahama was worried about the rate of borrowing by the Akufo-Addo administration.

Addressing the gathering, he reportedly made an emphatic statement that Ghana is back to the status of a Highly Indebted Poor Country (HIPC).

“Even worse, the rate of borrowing by this government has dazed many observers.

“The IMF in its Sub-Saharan African Regional Economic Outlook forecast the current rate of borrowing and debt at a frightening 76.7% debt to GDP ratio. Officially, Ghana is back to HIPC status under Nana Akufo-Addo and Ken Ofori-Atta administration,” he said.

Kweku Baako, speaking to sit-in host Nana Yaw Kesseh on Peace FM’s ‘Kokrokoo’ programme, has punched holes in Mr. Mahama’s HIPC statements.

Mr. Baako first wants to know where Mr. Mahama gleaned his information from, asking ”who made that official declaration?”

” . . what did President Mahama mean by official, Ghana is back to HIPC status?” he further queried.

He admitted that Ghana has some debt issues but asserted it doesn’t give credence to the comments made by Mr. Mahama.

”I don’t think that any Ghanaian should think that we don’t have a challenge with our debt profile or debt servicing. I don’t think anybody should entertain that idea. We do have as a lower middle income and the borrowing we’re doing, there’s always a risk element there and I think those in charge who are doing the borrowing on our behalf know that. The question really sometimes, when you do a debt sustainability analysis, is to determine whether you’re able, in spite of the profile, the stock, the quantum; whether you’re able to service your debt,” he stated.

“The IMF hasn’t declared Ghana HIPC,” Kweku Baako called out Mr. Mahama’s lies.

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