21, December 2022
The Ghanaian government has announced it can no longer honor its payment of external debts to creditors. Bondholders were shocked when the government announced it can no longer pay about 13 billion Euros in debt to its creditors.
The announcement was made by the country’s Finance ministry on Monday December 19, 2022.
Ghanaian Government says it’s a short term move intended to carry out IMF lead structural reforms but former Ghanaian President disagreed tweeting “Tragic! Ghana officially bankrupt”
Ghana was misled by France to lead an economy embargo against Mali’s military government when they chased the French away. Ghanaian government stopped all trade with Bamako and ended ties. The move prompted Burkina Faso government to recalled its ambassador from Accra further straining Ghana’s fragile economy
Ghanian government also led a West African campaign to oust Russia from the region, dismantling ties with Moscow on the behest of US and France.