"You will be doomed" – Ato Forson threatens Ken Ofori-Atta

Policy of Wednesday, July 31, 2019

Source: X Y Z

2019-07-31

Cbadiel Ato Forson, former member of Parliament's Finance Committee and former Deputy Finance Minister, warned Finance Minister Ken Ofori-Atta of a possible sentencing to imprisonment if the government continued to borrow and store Ghana's public debt.

Participating in the debate on the mid-year 2019 budget review, Forson called on the Minister of Finance to take a decision on the Financial Accountability Act, which will come into effect in December of this year. He added that Ofori-Ata could be the first to feel the wrath of the law.

"You are going to be sentenced," Ejumako Enyan Essiam's legislator said warning Mr. Ofori-Atta that he might be jailed if the finance minister did not abide by the law.

The former minister said that the government borrowed only to reduce its consumption.

"The government borrows for consumption … what I call chop chop," he added pbadionately.

Finance Minister Ken Ofori-Atta announced Monday that "the stock of gross government debt in nominal terms amounted to 204 billion GH ¢ (US $ 38.7 billion) at the end of June 2019, representing 59.2% of GDP ".

The increase in debt, he noted, stems mainly from the frontloading of financing requirements for 2019 in the first quarter.