Economist and a Senior Fellow at IMANI Africa, Dr. Theo Acheampong says Ghana still remains a favorable destination for investment despite the country’s debt to GDP ratio.

However, he says the trend where governments in their bid to attract investors are forced to give huge tax exemptions, should be halted.

Speaking on JoyNews’ Newsfile, Dr. Acheampong explained that these tax exemptions are responsible for Ghana’s debt to GDP ratio which currently stands at 68.3% but threatens to hit 76.7% by December this year.

“We are taking less of the revenue from these companies that come in, they do whatever they want to do, export outside and sometimes the profits are not repatriated to the country.

“So that is the challenge that any government that comes in from 2021 would have to address it,” he stressed.

The Political Risk Analyst who was speaking to host, Samson Lardy Anyenini said the country’s risk index of 53.9% according to an assessment by Fitch Solutions only proves that Ghana has always been a favorable investment destination not just in West Africa but in Africa at large.

Ghana’s risk index of 53.9% placed it first, ahead of four top West and Central African countries, according to the assessment by Fitch Solutions, the research arm of ratings agency, Fitch.

The first position puts Ghana ahead of Gabon, Ivory Coast, Nigeria and Cameroon.

This is because, according to Fitch Solutions, a high score index means a lower risk in terms of investment climate.