The African Development Bank has officially classified Ghana as the singular country experiencing debt distress within the West African region.

This announcement was made within the context of the 2023 West Africa Economic Outlook Report presented by the African Development Bank.

The report underscores that Ghana’s external debt-to-GDP ratio surged to around 39.5% in the year 2022, a situation exacerbated by the issuance of Eurobonds.

From Accra, here is WADRs Atiewin Mbillah-Lawson with the details.