The immediate past Director of the Institute of Statistical, Social, and Economic Research (ISSER), Prof Peter Quartey, says Ghana’s ineligibility for United States foreign assistance for the 2026 financial year should force the country to reduce its reliance on external support.
Speaking in an interview on Joy FM‘s Middaynews on Tuesday, September 9, he said, “If we [Ghana] have been so dependent on this money, I believe it will have severe repercussions on Ghana.”
“It’s also a lesson to us, not to mess up our economy, not to borrow and repay. We should also learn from what has happened, not to be aid dependent,” he advised.
The US government has barred Ghana from accessing funds under the Millennium Challenge Compact, citing the country’s debt default and pending restructuring agreement. The restriction is in line with Section 7012 of the FY2025 State, Foreign Operations, and Related Programs Appropriations Act (SFOAA).
Prof Quartey also warned that Ghana’s ineligibility for United States foreign assistance in the 2026 financial year could have far-reaching implications for the economy.
“This decision is certainly going to affect us. In the past, we have received significant support from the US government, including the N1 motorway, energy sector revamps, and upgrades of our substations. Missing out on this grant means we will suffer the negative consequences of losing such assistance,” he explained.
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Source: myjoyonline.com
