A banking consultant, Dr. Richmond Atuahene has warned that Ghana is likely to require another debt restructuring within the next three years if fundamental economic reforms are not implemented.

Dr. Atuahene’s comments come in the wake of the Bank of Ghana’s commissioning of a new $250 million headquarters building amidst the ongoing debt restructuring process.

Bank of Ghana on Wednesday November 20, commissioned a new headquarters called the “Banking Square in Accra costing a huge amount of 250 million Dollars amidst the imaginable debt that is hanging on Ghana’s neck.

This has fuels debate about the government’s priorities and its commitment to fiscal responsibility.

Speaking on Starr Today with Efia Tutuwaa Danso, Dr. Atuahene emphasized the need for comprehensive structural reforms to bolster Ghana’s economy, criticizing the government’s approach to taxation and its failure to implement crucial revenue-generating measures.

“We need comprehensive structural reforms to foster the economy. Anytime you talk about property tax, which is supposed to generate about 9 billion every year, they’ll go and put it on the E-levy, where a common person, a poor man doe. Anytime you talk about this, they downplay it,” Dr. Atuahene stated.

He highlighted the World Bank’s recommendation for Ghana to introduce property taxes as a crucial step towards addressing its debt issues.