Impact of Debt Accumulation and Debt Restructuring on the Pension Space: A Case of Ghana
Journal Title: International Journal of Social Science Humanity & Management Research - Year 2024, Vol 3, Issue 09
Abstract
The Ghanaian economy has experienced persistent accumulation of public debt over the past decades. Debt Servicing over the years usually causes distress to the domestic economy whilst several external interventions seem to be beneficial only for a short while due to controversial fiscal and monetary policy decisions of successive governments. The recent financial sector clean-up followed by the onset of the Covid-19 pandemic and the Russian-Ukraine war have exacerbated the country’s debt burden which has culminated in a domestic debt restructuring programme aimed at securing an IMF bailout. Through thematic analysis, this research explored the debates and interviews organised by some selected Ghanaian TV stations with respect to the Domestic Debt Exchange Programme; with a research objective that sought to unravel the impact of the DDEP on stakeholders of the pensions space. The denouement of the study established four main themes by which the impacts were observed: namely, economic impact, social impact, psychological or emotional impact and reputational impact. The enormity of the impact presupposes going forward, government must perform an in-depth sensitivity analysis on the pensions space for prudent management of potential victims and repercussions. Additionally, with the exemption of pension fund, same will be negatively affected, how much more the inclusion of pensioners who are a vulnerable section of society, and institutional bondholders with whom pension schemes have invested funds.
Authors and Affiliations
Prince Ofosu Appiah, Nii Amu Otoo
Keywords
Related Articles
- EP ID EP748274
- DOI 10.58806/ijsshmr.2024.v3i9n02
- Views 87
- Downloads 0
Utilization of Technological Devices towards Personal Development of Senior High School Students
The study aimed to determine the perception of the respondents in the Utilization of Technological Devices towards Personal Development of the Senior High School Students Percentage and mean were used in the statistical...
Job-Related Issues of Distance Learning to Teachers’ Coping Response and Attitude towards Change
The Covid-19 virus has affected everyone, and some are still getting better. The changes the pandemic brought about pushed us to use conventional survival methods. It is necessary for both teachers and students to quickl...
Impact of Debt Accumulation and Debt Restructuring on the Pension Space: A Case of Ghana
The Ghanaian economy has experienced persistent accumulation of public debt over the past decades. Debt Servicing over the years usually causes distress to the domestic economy whilst several external interventions seem...
Technology, Unemployment and Human Psychology: Journey to Strength from Crisis
In today's world, the rapid advancement of technology causes radical changes in the business world and economy, causing significant transformations in the labor market. This article aims to discuss the advancement of tec...
The Representation and Emotional Resonances of the Joy in Indonesian Proverbs
This study combines Cognitive Semantics Analysis (CSA) and Qualitative Method (QM) to delve into the intricate interplay between language, culture, and emotion within Indonesian proverbs. Through a comprehensive examinat...