Ghana is officially bankrupt, its former leader and opposition flagbearer John Mahama declared on Monday describing the situation as “tragic”.

The government announced that certain external debts cannot be honoured per agreed terms.

Finance Minister Ken Ofori-Atta explained on Monday that certain categories of the country’s external debts would be suspended as the government reaches a $3 billion Staff Level Agreement deal with the International Monetary Fund (IMF).

The move is an interim emergency measure pending further agreement with creditors as experts say this is a clear case of an attempt by the country to default in its external debt payment.

Mr Mahama’s latest reaction on his social media handles contained only four words which read: “Tragic! Ghana officially bankrupt”. The post has got social media buzzing. – Dailymailgh

Ghana is officially bankrupt, its former leader and opposition flagbearer John Mahama declared on Monday describing the situation as “tragic”.

The government announced that certain external debts cannot be honoured per agreed terms.

Finance Minister Ken Ofori-Atta explained on Monday that certain categories of the country’s external debts would be suspended as the government reaches a $3 billion Staff Level Agreement deal with the International Monetary Fund (IMF).

The move is an interim emergency measure pending further agreement with creditors as experts say this is a clear case of an attempt by the country to default in its external debt payment.

Mr Mahama’s latest reaction on his social media handles contained only four words which read: “Tragic! Ghana officially bankrupt”. The post has got social media buzzing. – Dailymailgh