I have read some, if not all , of the arguments against Ghana s joining the HIPC initiative, thanks to the electronic media. I would really want someone to tell me how HIPC makes Ghana worse off than its pre-HIPC position. The idea that we do not belong HIPC is a self-inflated ego argument. HIPC or not, and despite the self-denial of some of us, outsiders know that we are economically poor and thus they regard us as such. Almost all African countries are.
Reality is different from potentiality.
A country must satisfy a set of criteria to be eligible for special assistance. It takes no Einsteinian brain to know that the above conditions apply to Ghana. Thus Ghana would not have to endure additional conditionalities and reforms by joining the HIPC because these conditions and reforms are well entrenched in our economic lives. Secondly, It is clear, at least to all who care to know, that our foreign debts are not sustainable and strangulating. The higher this burden, the greater the likelihood that the debt is unsustainable, in the sense that the debtor country finds itself unable or unwilling to repay.