It’s been more than 60 years since Ghana achieved independence. But the economy shaped by colonialism faces a debt crisis and speculators continue to extract large profits from the country.

Ghana is in a debt crisis. Despite having had significant amounts of debt canceled a decade ago, the country is losing around 30% of government revenue in external debt payments each year.

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Such huge payments are only possible because Ghana has been able to take on more loans from institutions such as the International Monetary Fund (IMF), which are used to pay the interest on debts to previous lenders, whilst the overall size of the debt increases.

And it’s at the back of the growing crisis of Ghana after 60 years of independence that Rev Isaac Frimpong has bemoaned the future of his motherland in a sermon.

According to the man of God, Ghanaians living in Ghana had better living conditions and more under colonialism than after Kwame Nkrumah and his cohorts achieved independence for Ghana then Gold Coast.

He noted that considering the hardships and poor living conditions of the citizens in the midst of an abundance of resources, nothing shows that the country is truly independent as the politicians claim.


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