Ghana listed among World Bank’s Top 10 Countries with high debt risk
Ghana has been listed among the Top 10 countries with high debt risk exposure per the World Bank FY21 audited financial statements released on Monday, August 9.
Ghana placed 9th on the list, with India topping whiles other African countries, Nigeria, Ethiopia, Kenya, Tanzania and Uganda were in the Top 10.
List Of IMF’S Countries With High Debt Risk Exposure
- India with $22 billion IDA debt stock
- Bangladesh with $18.1 billion IDA debt stock
- Pakistan with $16.4 billion IDA debt stock
- Vietnam 14.5 Billion IDA debt stock
- Nigeria with 11.7 Billion IDA debt stock
- Ethiopia with $11.2 Billion IDA debt stock
- Kenya 10.2 Billion IDA debt stock
- Tanzania with 8.3 Billion IDA debt stock
- Ghana with 10.6 Billion IDA debt stock
- Uganda with 10.4 Billion IDA debt stock
The financial statement reads in part: “IDA faces two types of credit risk: country credit risk and counterparty credit risk.
“Country credit risk is the risk of loss due to a country not meeting its contractual obligations; and counterparty credit risk is the risk of loss attributable to a counterparty not honoring its contractual obligations.
“IDA is exposed to commercial as well as noncommercial counterparty credit risk.”
It stated, “As of June 30, 2021, the 10 countries with the highest exposures accounted for 66 per cent of IDA’s total exposure.”