Vice President of IMANI-Africa, Bright Simons says it is unlikely for the NPP government to recover should it bow to the pressure of restructuring both domestic and external debt.
That, according to the Analyst would require it[government] to further curb spending “for the next two years and if they did that, they would not be able to win the next election under any circumstance,” he told Bloomberg in an interview.
The opposition largely holds the key to an expedited IMF deal now as reorganization of the nation’s liabilities would require approval from parliament, where there is a turf war in numbers which has simmered since the inception of the 8th parliament.
Beyond this challenge, Bright Simons averred that restructuring debt may drag because the government ought to build consensus ahead of that move.
“Building consensus at the top of the political pyramid takes time because you have to do all the usual Ghanaian dances,” Bright Simons said adding, “You have go to traditional leaders, to religious leaders, to the head of the opposition.”
The most recent IMF debt sustainability analysis, conducted in 2021, found Ghana at a high risk of debt distress and vulnerable to rising debt servicing costs. Interest costs have climbed since then, Fitch Ratings noted last week when it downgraded Ghana’s debt to CC, a junk status.
Source: starrfm
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God bless you greatly @ Isaac. For a while now, I have been wondering if so soon Ghanaians had forgotten how this so called "think tank" took on the EC with his bogus analysis and discredited conjectures and predictions. But as history will have it, the EC was vindicated and this pathetic egocentric doomsayer didn't have the decency to apologize to the EC and the people of Ghana. Even worse, He is still parading himself as a know it all and deluded folks are giving him the platform to do so just because it suits their selfish agenda. Very heartwarming to know that well meaning Ghanaians like yourself still remember @ Isaac.
This guy is an NDC man hiding behind IMANI. He does not se anything good about NPP govt.
This guy - Bright Simmons predicts future as if he holds all Ghanaians in his pocket. Dodgy analysis and predictions by twisted mind. This same guy was moving heaven and earth to discredit EC during 2020 elections. However, the 2020 elections was one of the best and credible one ever held in Ghana, thanks to the good judgement of Jean Mensah and her team. He didn't even apologise to EC and Ghanaians for his poor analysis. To me, Bright Simmons lacks credibility and his analysis is sloppy and superficial. I cannot believe that Newfile host always give Bright Simmons too much time to mislead listeners. He knows nothing, to me.