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Cbadiel Ato Forson, minority spokeswoman in charge of finance, said that it would be virtually impossible for Ghana to repay its alarming debt due to lack of revenue.
According to him, a debt sustainability badessment carried out by both the International Monetary Fund (IMF) and the World Bank revealed that Ghana had failed to meet four requirements to allow its revenues to meet the necessary conditions to meet accumulated debts.
His comments come at a time when the minority and the majority in Parliament seem to be at war with the state of the country's growing indebtedness.
Ato Forson said on Wednesday that Ghana had failed to secure the necessary currency, adding that the finance minister had even admitted that the country was spending much of its meager income to settle its loan arrears. .
He insisted that the government had, within two years, added 80 billion GHc to the country's public debt.
"If you can pay your debts, it does not matter. Unfortunately, recent IMF and World Bank debt sustainability badessments show that Ghana has surpbaded the four main indicators. As we speak, if you look at the present value of our debts to our income, Ghana can not pay its debts. As we speak, we are borrowing to repay some of our debt and, obviously, Ghana is not able to meet its debts if we consider the level of income. "
"What surprises me is that even the foreign currency part of the debt, for which you need foreign currency, allows you to determine whether you can pay it or not … the amount of exchange we earn does not allow us not repay our debt. The Minister of Finance told us all of us that almost 70% of our tax revenue went to pay down our debt, because the debt is high. It is increasing at an alarming rate, "he added.
Government's insistence
But the Akufo-Addo government denied the minority's claim that it betrayed the Ghanaians with its ill-considered borrowings.
Information Minister Kojo Oppong Nkrumah, who spoke on the same program, said the difficult position of the minority in this regard was only a deliberate attempt to peddle lies and write the achievements of the government.
"What our colleagues decided to do, is to create a negative impression of the case. As a government, spending is not just about infrastructure programs. It is a choice and the Akufo-Addo administration has made the choice to devote its resources to the development of populations and offer them economic opportunities. You will not see a bridge somewhere but you will see that their well-being has been impacted and invested. This is the choice that the Akufo-Addo government has made and we are pleased to be able to show in the end that the statement that $ 75 million of debt is changing because Akufo-Addo has added that his is wrong, "he said.
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