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Ghana-based aid and advocacy groups call for debt cancellation amid crisis

Ghana-based aid and advocacy groups call for debt cancellation amid crisis

MORE than two dozen aid and campaign groups called for international creditors to cancel a large portion of Ghana's debts as it struggles to contend with an economic crisis. Ghana's consumer inflation rose to 54.1% year-on-year in December, driven by rising fuel, utilities and food costs. International reserves have dwindled to less than two months of import cover. "The people of Ghana have suffered extensively from the crisis," the groups, which all have operations in Ghana, said in an open letter. "Wealthy private lenders must share in the costs of a crisis they helped to create and cancel the debt."…
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