Show sacrifices, create more fiscal space post debt exchange – Financial Economist to government

Financial Economist, Professor Lord Mensah is advising government to show sacrifice and create more fiscal space, post debt exchange, in order to restore fiscal sustainability and turnaround the ailing economy.

He, therefore, wants government to give some assurances that its will drastically reduce its expenditure significantly to revive the economy.

Speaking to Joy News, Professor Mensah, said the government must sacrifice just as all other stakeholders have done.

“We shouldn’t look at the bondholders alone, it’s tight in general and my worry has always been the post debt exchange and the possible fiscal space we can create”

“We should take advantage of it and utilise it very well to revive the economy back to it form that will please the people. So effectively, the government needs to give certain level of assurance and then come out clearly with the sacrifices that it intends to do when it comes to the size of the government, when it comes to expenditure”

Professor Mensah again urged government to show more commitment towards stabilizing the fiscal economy post debt exchange.

“For me, my worry is the post debt exchange, the assurance that will come from the context of the government”.