The authorities has defended its borrowing over time saying the monies are to settle money owed incurred by the erstwhile Mahama administration. According to the federal government, borrowing within the covid period is being finished by many nations the world over and it is just in Ghana that borrowing has been made political matter. Ghana’s
present debt inventory stands at over GHC300 billion, with the IMF warning the nation to place measures in place to scale back the money owed. John Mahama throughout an financial discussion board organized by the opposition Monday, September 7 stated the NPP should be voted out to guard the general public purse. When I referred to as for a change in authorities within the
2024 as step one in the direction of halting this hemorrhage of badly wanted sources by way of corruption and likewise holding offending officers to account, our buddies within the authorities took offense however it stays the one viable approach to save the general public purse within the face of considerable proof that nothing will even be ever finished concerning the
scenario, Mr Mahama stated. But talking to the media, deputy finance minister John Kumah stated if he talks about will increase in borrowing, sure we’ve seen that however a lot of this borrowing went to deal with the money owed he [John Mahama] left behind, the take or pay contracts he signed within the power sector and the billions that we’ve
paid. We spent about 25 billion cedis making an attempt to avoid wasting the banks. So, if we’ve borrowed then we’ve borrowed as a result of he plunged this nation into a really troublesome scenario that we wanted to redeem. And that we’ve finished and have proven competence within the administration of this nation. He added that it’s solely Ghana that we’re making borrowing within the covid period a political matter
