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Ghana, 27 other countries remain stuck in debt trap, says World Bank

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The World Bank has disclosed that 28 developing economies including Ghana with - the weakest credit ratings - remain stuck in a debt trap with no hope of escape anytime soon. According to the Bretton Wood institution, their average debt-to-Gross Domestic Product was nearly 75% at the end of 2023 - 20 points greater than the typical developing economy. In an article, “A silent debt crisis is engulfing developing economies with weak credit ratings”, however, it said some developing economies are finally seeing the light at the end of the tunnel, global inflation is receding and global interest rates appear...
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