Ghana will go for another debt restructuring in the next three years – Dr. Atuahene

Dr. Richmond Atuahene, a banking consultant, has warned that Ghana may face another debt restructuring within three years if it fails to implement fundamental economic reforms.

His remarks follow the commissioning of the Bank of Ghana’s $250 million headquarters, which has sparked criticism amid the country’s debt challenges.

Speaking on Starr Today, Dr. Atuahene criticized the government for neglecting key revenue-generating reforms, such as implementing property taxes, which the World Bank recommends.

He noted that property taxes in cities like Accra and Kumasi could generate substantial revenue to ease Ghana’s fiscal woes.

Dr. Atuahene cautioned that Ghana's current revenue streams, including exports of gold and cocoa, are insufficient to meet its debt obligations, underscoring the urgency of structural economic reforms to prevent future debt crises.