Professor William Prepah, a finance expert at Andrew University, has called on the government to settle its unpaid debts to US entities using the $4.2 billion allocated for debt payment.
In an interview on January 16, 2025, Prepah emphasized that prompt payment of these debts would enhance Ghana’s eligibility for the upcoming $750 million disbursement from the International Monetary Fund (IMF).
Prepah warned that delaying payment would erode trust among international investors, ultimately hindering Ghana’s economic progress. His comments came after Senator James E. Risch authorized Janet Yellen to influence the IMF to ensure Ghana’s swift debt repayment.
Ghana’s debt situation is a pressing concern, with over 70% of its debt denominated in US dollars, making it vulnerable to exchange rate fluctuations.
The government’s ability to manage its debt and maintain a stable economy will be crucial in achieving the United Nations’ Sustainable Development Goals (SDGs).
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