Ghana’s economic woes go back '20 years' – economist
His remarks come at a time when aid organizations are urging international creditors to forgive a significant amount of Ghana's debts as the country tries to deal with an economic crisis.
Boakyewaa Lawrencia 
The BBC's Newsday radio program quoted a Ghanaian economist as saying that "you need to go back around 20 years to grasp the core causes" of Ghana's current economic issues.
The country of West Africa is experiencing its highest rate of inflation in more than 20 years, making living expenses intolerable for many. Some people have even told the BBC that they are unable to afford basic necessities like cooking oil.
Early in the new millennium, the nation went on a "borrowing frenzy" as a result of "substantial debt relief" and the discovery of "huge quantities of crude oil," which was thought to revolutionize the economy, according to economist Theo Acheampong.
It had borrowed more than $15.5 billion (£12.5 billion) in Eurobonds alone over the 13 to 14 years leading up to 2021, according to Mr.
In the 13 to 14 years up to 2021 it had borrowed in excess of $15.5bn (£12.5bn) in Eurobonds alone, Mr Acheampong said.
His remarks come at a time when aid organizations are urging international creditors to forgive a significant amount of Ghana's debts as the country tries to deal with an economic crisis.
It would "make a difference in bringing down the debt profile but also allowing the country a bit of budgetary room," according to Mr. Acheampong.
