Domestic Debt Exchange: This is the most expensive economic recovery in history- Prof. Bokpin

Economist and Prof of Finance, Prof. Godfred Bokpin has asserted that the apology from the Minister of Finance, Dr.Amin Adam means nothing in the face of challenges ahead. 

According to the Prof of Finance, “In our history, this is the pricy and most expensive economic recovery.”

He said when you look at the data “let’s not joke about it, it is going to take us decades to get out of this.”

Speaking to Evans Mensah on Joy News, he said at this present rate and the level of governance on the table, nothing is going to change.

“If you look at the domestic debt exchange and external debt restructuring it is just to buy space while the IMF programme is in force,” he said.

Prof. Bokpin shockingly revealed that after 2026, there is no way the country will sustain its debt and optimally allocate funds to priority spending in the area of education, health, education, agriculture in the manner that it will benefit Ghanaians.

“If you look at the energy sector shortfalls, if you do the forecast and the maturity clustering of the DDE, we are looking at more GH₵ 33billion in 2027, about GH₵37 billion in 2028, how will the country prepare for that?,” he queried.

He concluded that “If you are thinking of setting up a sinking fund, there is a trade off, if you look at the growth projection from now to 2029, it is insufficient.”

By Edem Mensah-Tsotorme