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The World Bank warns Ghana to take heed of its growing debt

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The World Bank’s Country Director in Ghana, Frank Laporte, has urged the Government in Accra to be mindful of the rate at which it borrowed from the international community.

According to Joy FM, Laporte described Ghana’s debt situation as a “moderate to high risk of debt distress,” expressing confidence in the Finance Minister, Ken Ofori-Atta and his team having been fully made aware of this.

Laporte said borrowing is not always a bad thing but it must be done “on the right terms; most favourably as possible and in the right amount and in the right way.”

He said this when he paid a courtesy call to Speaker of Parliament, Mike Oquaye who, on the other hand, cautioned the World Bank against using aid to pressure developing countries into accepting tendencies, such as homosexuality.

Joy News reported on Monday, 10 February 2020, that in response, the World Bank Country Director said as long as countries do not go to the extremes (in their dealings with homosexuals), “there will be no issues”.

Laporte, a Seychellois has been the World Bank’s Country Director for Ghana, Liberia, and Sierra Leone since 1 July 2019.  The former Finance Minister also served as Country Director for Benin, Burkina, Côte d’Ivoire, and Togo.

– APA

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