Rocky Dawuni Warns Countries In Debt Distress
Ghanaian singer, songwriter and record producer, Rocky Dawuni, has issued a clarion call to countries who have been battered by the global crises.
His call comes in the wake of a mad rush to the International Monetary Fund (IMF) for bailouts.
He indicated that opportunists will use the opportunity to keep the poor in slavery.
Dawuni posted on Facebook, “In these times, debt and economic subjugation will be used as a weapon to bring the weak and the poor nations to their knees so that the greedy and powerful corporations will buy their souls for pennies and then lead them back into self imposed slavery. For those who have eyes, open them. For those who have a voice, speak!”
Ghana is in talks with the IMF for a programme that will sustain the debt levels of the country.
The IMF observes that “the fiscal and debt situation of Ghana has severely worsened following the COVID-19 pandemic. At the same time, investors’ concerns have triggered credit rating downgrades, capital outflows, loss of external market access, and rising domestic borrowing costs.
“In addition, the global economic shock caused by the war in Ukraine is hitting Ghana at a time when the country is still recovering from the Covid-19 pandemic shock and with limited room for manoeuvre. These adverse developments have contributed to slowing economic growth, accumulation of unpaid bills, a large exchange rate depreciation, and a surge in inflation.”
Source: opemsuo.com/Hajara Fuseini
