Dr. Richmond Atuahene emphasized that Ghana must repay its foreign debts.

Dr. Richmond Atuahene, a prominent banking consultant, has sounded the alarm on Ghana's international debt obligations. He warns that if Ghana fails to settle its outstanding debts within the next two years, its exports on international shipping lanes could be seized and sold to repay creditors. This cautionary statement comes as a rebuttal to Finance Minister Dr. Amin Adams' assertion that Ghana's economy is rebounding after a difficult period.

Dr. Atuahene emphasizes that Ghana's debt obligations are not grants, but liabilities that require repayment. He cites the example of Argentina, where a creditor seized and sold commodities being shipped to Europe to pay off debts. This highlights the severe risks that lie ahead if Ghana's debt obligations are not adequately managed.

In fact, Ghana's external debt has been increasing over the years, reaching 46.4% of GDP in 2021, compared to 29.5% of GDP a decade earlier . This underscores the need for prudent debt management to avoid defaulting on international debt obligations.