Prioritise MMDAs like Eurobond payments – Prof Quartey tells government

Economist and former ISSER Director, Professor Peter Quartey, has urged the government to extend the same level of commitment it has demonstrated in repaying external debt to providing financial support for Metropolitan, Municipal and District Assemblies (MMDAs) and other public institutions.

His comments come at a time when devastating floods have hit parts of Accra and other areas of the country, disrupting businesses, damaging public infrastructure, and exposing longstanding challenges related to drainage maintenance, waste management, and the financial capacity of local authorities to respond effectively and promptly.

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Speaking on Channel One TV on Tuesday, July 7, 2026, Quartey called on the government to demonstrate the same commitment to funding critical public institutions.

“I would like to add that we should extend the same to the local economy—I mean to the institutions, the assemblies, and other ministries, departments and agencies,” he said.

“There is a lack of funding to undertake activities, including waste management and flood-related interventions. We should extend the same kind of commitment to them,” he added.

His remarks follow the Ministry of Finance's announcement that Ghana had settled a US$700 million Eurobond debt service obligation ahead of schedule.

The Eurobond debt payment was completed on July 2, 2026, and consisted of US$525.2 million in principal and US$174.8 million in interest, bringing total repayments since January 2025 to US$2.1 billion under the country's debt restructuring programme.

Quartey's call adds to the growing debate over how Ghana can balance efforts to restore confidence in the international financial markets with the need to provide adequate fiscal support for local governments and public institutions responsible for delivering essential services and strengthening climate resilience.

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