Advertisement

Heresy Financial: Ghana Defaults on National Debt… is the US Next?

0
319
Advertisement

Heresy Financial
Dec 24, 2022

It’s no secret that the country, Ghana, has some major economic issues. Right now, they are defaulting on most of their external debt. And just within the last couple of weeks, they announced another solution to deal with their economic problems, one of which was using gold to buy oil in order to circumvent getting dollars, which is contributing to some of their inflation.

On Monday, its finance ministry said that it will stop servicing debts, including its Eurobonds, commercial loans and most bilateral loans. Now, Ghana has gotten itself into some deep trouble with its debt over the past few years, with their current split sitting at about $13 billion in Eurobonds, $8 billion in multilateral bonds, and then an assortment of other debts, including about 1.7 billion owed to China.

Now, this dollar amount by itself may seem huge or may seem insignificant. We really must put this into perspective in terms of how big is this amount of debt, in terms of how much it cost the government compared to how much the government makes from its tax revenue?

https://www.youtube.com/watch?v=qSXsRf816mA

______________________________________________________

If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we’ll forward your request to the author.
______________________________________________________

All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.

Advertisement

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.

Copyright © 2022 Dinar Chronicles

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here