“This threshold, aggressive as it is, is an important one, because higher levels of debt would mean even more fiscal adjustment. If you don't get the debt to that level, it means more of the burden of adjustment will follow.” Report by sheriftarek. Ghana
Ghana’s historically low tax collection is one of the key issues that needs to be addressed in order for the West African nation to meet its ‘aggressive’, yet ‘important’ debt-to-GDP ratio target in five years, says Abebe Aemro Selassie, director of the IMF’s Africa department.The fund expects the collections to reach 24% by 2028, the year the government aims to bring down its debt-to-GDP ratio to 55% from the current levels that exceed 100%.during the Africa CEO Forum in Abidjan.
“When you’re investing, you’d want to make sure that there is consistency between increased services you’re providing and your capacity to service […] debt” incurred to finance these projects, he says.
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