Economist and former ISSER Director, Peter Quartey, has urged government to extend the same commitment it demonstrated to the external debt repayments to the financial support for Metropolitan, Municipal and District Assemblies (MMDAs) and other public institutions.

His comments come at a time where devastating floods hits parts of Accra and other parts of the country, disrupting businesses, damaging public infrastructure, exposing longstanding challenges relating to drainage maintenance, waste management, and the financial capacity of local authorities to respond effectively and in a timely manner.

Speaking on these developments on Channel one on Tuesday July7, 2026, Quartey signaled to government to demonstrate the same level of commitment to funding critical public institutions.

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“I would like to add that we should extend the same to the local economy, I mean, to institutions, the assemblies and other ministries, departments and agencies,” he noted.

“There is a lack of funding to undertake activities, including waste management, flood-related issues… we should extend the same kind of commitment to them,” he added.

His remarks follow the Ministry of Finance’s announcement that Ghana had settled a US$700 million Eurobond debt service obligation ahead of schedule.

The Eurobond dept payment was completed on July 2, 2026, which consist of US$525.2 million in principal and US$174.8 million in interest, which brings total repayments since January 2025 to US$2.1 billion under its debt restructuring programme.

Quartey’s call adds to the growing debate over how Ghana can balance efforts to restore confidence in the international financial markets with the need to provide adequate fiscal support for local governments and public institutions responsible for delivering essential services and strengthening climate resilience.

ANAS/VPO

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