Sandy promises to manage the country’s debt burden

As he bade farewell to the International Monetary Fund (IMF) after nine years as Senior Economist, Mathew Sandy has committed himself towards managing the country’s debt without it being a burden on the economy. In an interview with Awoko Newspaper, the newly appointed Director of Public Debt at the Ministry of Finance Matthew Sandy said that he will use his knowledge and experience at the IMF to manage the country’s public debt. Sandy said, the area of debt management rest within his purview, for he has acquired a rounded knowledge working for both the IMF and the Ministry of Finance. “A few years ago, when the country was highly indebted, the main goal was to ask for debt relief, I was one of those who moved for the country’s debt reform which led to the removal of the burden on the debt distress of the country,” he said. Sandy furthered that the country is currently in high debt distress. However, I have a focus, and that is, one cannot ask for debt relief when your baggage has been exhausted. “The rate of debt distress has been very stiff over the years, and now we are back in it,” he said. “The approach is to look at the macro approach to debt management, and try to broaden the economic base, and that is one skill I have acquired … that is to manage debt without having a burden on the economy. He said, any new loan that is to be contracted, should have the proclivity on the economy faster than it will have the burden on the debt. He said, the proclivity should generate GDP, it should create foreign exchange, and should increase tax buoyancy.

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