{"id":8507,"date":"2022-09-28T14:44:46","date_gmt":"2022-09-28T14:44:46","guid":{"rendered":"https:\/\/expressnewsghana.com\/?p=8507"},"modified":"2022-09-28T14:44:46","modified_gmt":"2022-09-28T14:44:46","slug":"ghana-debts-cant-be-survive-restructure-under-npp-bright-simons-declares","status":"publish","type":"post","link":"https:\/\/expressnewsghana.com\/?p=8507","title":{"rendered":"Ghana Debts Can\u2019t  be survive ,Restructure under NPP\u2013Bright Simons declares"},"content":{"rendered":"<p><strong>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.<\/strong><\/p>\n<p>That, according to the Analyst would require it[government] to further curb spending \u201cfor the next two years and if they did that, they would not be able to win the next election under any circumstance,\u201d he told Bloomberg in an interview.<\/p>\n<p>The opposition largely holds the key to an expedited IMF deal now as a reorganization of the nation\u2019s liabilities would require approval from parliament, where there is a turf war in numbers that has simmered since the inception of the 8th parliament.<\/p>\n<p>&nbsp;<\/p>\n<p>Beyond this challenge, Bright Simons averred that restructuring debt may drag because the government ought to build consensus ahead of that move.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cBuilding consensus at the top of the political pyramid takes time because you have to do all the usual Ghanaian dances,\u201d Bright Simons said adding, \u201cYou have go to traditional leaders, to religious leaders, to the head of the opposition.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>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\u2019s debt to CC, a junk status<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1795,2018,2019,2017],"class_list":["post-8507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-debts","tag-restructuring","tag-simons","tag-survive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana Debts Can\u2019t be survive ,Restructure under NPP\u2013Bright Simons declares - 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