Time to impose strict debt ceiling to curb Ghana’s ever rising debt:– Prof Peter Quartey

In light of Ghana's escalating debt crisis, Professor Peter Quartey has called for the implementation of a stringent debt ceiling to address the nation’s financial challenges. Speaking at a recent forum, he emphasized that without firm fiscal measures, the country risks exacerbating its already perilous economic situation. Quartey pointed out that current debt levels are unsustainable and could hinder future growth if not managed properly.

He advocated for a clear framework that limits borrowing while promoting responsible fiscal practices. This, he argued, would help restore investor confidence and stabilize the economy in the long term. The professor also noted that many countries have successfully implemented similar measures to manage their debts effectively.

As Ghana continues to grapple with high inflation and rising public spending, experts like Quartey stress the urgent need for government accountability in financial management. By establishing a robust debt ceiling, Ghana could pave the way for sustainable economic recovery, ensuring that future generations are not burdened by excessive liabilities.