Vice Presidential candidate of the New Patriotic Party (NPP), Dr Mahamudu Bawumia has alleged the country is currently being sanctioned by the African Development Bank (AfDB) for non-payment of debt obligations due.
He said this during a lecture on the implications of the IMF bailout.
The sanction would mean that signatures of new AfDB loan agreements, disbursements on all AfDB ongoing projects and the granting of any new loans will be suspended till the situation is rectified.
According to Dr Bawumia, the sanction took effect from January 2015.
“In this regard, Ghana regrettably joins an exclusive list of nations currently under AfDB sanctions. The other countries are Somalia, Sudan, Zimbabwe, and Djibouti.
Ghana’s arrears on its AfDB debt obligations only serves to emphasize the pressure on government cash reserves as well as the poor debt management. You cannot treat external debt obligations in the same way as you treat your obligations to the NHIS, DACF, GETFUND or Road Fund,” He added.