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General News on Thursday, June 6, 2019
Source: starrfm.com.gh
2019-06-06
Cbadiel Ato Forson is the spokesperson for finance for minorities
The minority in Parliament said that Ghana was one of the countries with the "highest risk of debt distress" after the swelling of its public debt.
Ghana's outstanding public debt currently totals 200 billion GH in the first quarter of 2019 over the 27-month administration run by Akufo-Addo.
Ato Forson, a spokesperson for the minority finance group, told the media on Thursday that the NPP government had betrayed Ghanaians, contrary to their promise not to borrow when they were elected.
"The Minority Caucus in Parliament has taken note of the latest report of the Monetary Policy Committee of the Bank of Ghana and has taken note of the current public debt, which stands at nearly two hundred billion Ghanaian cedis at the end of the first quarter of 2019. Thus, it means that during the first twenty-seven months of President Akufo-Addo's administration, the public debt now stands at nearly two hundred billion Ghanaian cedis, "he said.
According to him, this figure represents an increase of about 80 billion dollars in the last 27 months of the administration of President Akufo-Addo.
He said that the minority had drawn attention to the change since 2016 for three reasons attributable to the Mahama era: first, because there was a promise not to borrow, L ' NDC administration launched the project and thirdly, other oil fields almost tripled their production.
Ato-Forson said that in view of current exchange rates, the only borrowing due to President Akufo-Addo's administration was $ 16 billion over the period. "It is instructive to know that the figures do not include the amount of GHG 5.7 billion provided for in the recently issued bond under the North American Industry Levy Act. energy, "he said.
Ato-Forson said Ghana's current public debt is the highest of the past four years and makes Ghana "one of the countries with the highest risk of debt distress in the world."
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