{"id":102063,"date":"2015-03-24T17:40:47","date_gmt":"2015-03-24T17:40:47","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=102063"},"modified":"2020-10-28T10:02:53","modified_gmt":"2020-10-28T10:02:53","slug":"ghana-has-now-moved-from-hipc-to-himic-dr-bawumia","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2015\/03\/ghana-has-now-moved-from-hipc-to-himic-dr-bawumia\/","title":{"rendered":"Ghana has now moved from HIPC to ‘HIMIC’ – Dr Bawumia"},"content":{"rendered":"
Economist and the New Patriotic Party\u2019s Vice Presidential Candidate Dr. Mahamadu Bawumia has sought to rubbish Finance Minister Seth Terkper\u2019s claims that government is engaged in \u201csmart borrowing.\u201d<\/p>\n
Some economists and financial analysts have raised serious issues about government\u2019s rate of borrowing, ostensibly for capital expenditure.<\/p>\n
However speaking at a lecture dubbed \u201cThe IMF Bailout: Will the Anchor Hold?\u201d at the Central University College, Dr Bawumia said the most significant reason Ghana resorted to the International Monetary Fund (IMF) for a bailout is because of unsustained borrowing and debt stock.<\/p>\n
He described Ghana as a Highly Indebted Middle Income Country (HIMIC).<\/p>\n