The government attacks the energy debt of 2.4 billion dollars

General News on Tuesday, April 2, 2019

Source: dailyguidenetwork.com

2019-04-02

The $ 2.4 billion energy debt inherited from the previous Mahama administration by the New Patriotic Party (NPP) administration has been addressed, said Nana Addo Dankwa Akufo-Addo president to Ghanaians living in Worcester, the state of Mbadachusetts, United States.

"But for some of the challenges that have recently made their head, we were able to manage" dumsor "today; we export energy to Burkina Faso; we will start again in Togo. "

On the importance of sustainable and reliable energy, he said that it was essential to ensure the smooth operation of the bauxite, iron and steel industries set up by the nuclear power plant administration. .

The President said that the program of the International Monetary Fund (IMF) adopted by his predecessor, John Mahama, would be the last time the country would turn to the Fund for such an intervention to restore fiscal discipline in the country's economy. .

He added that his predecessor, Mr. Mahama, had resorted to the IMF after losing control of the management of the economy between 2012 and 2016.

"Ghana, faced with the current economic challenges, had to go through the IMF pill to restore a certain amount of discipline in the country's finances.

"Even when they left office in 2016, the problem was still unresolved. But by discipline, by an honest management of public finances, we have reduced the situation where it should be. So we went out of the IMF program, "said the president to the spontaneous applause of the crowd.

He continued, "What I say to Ghanaians, to all of us, is that in the 62 years of our independence, it was the 16th IMF rescue program in which the country was engaged. This is the last time we are using an IMF program. "

President Akufo-Addo revealed that "now we will maintain discipline in the management of our public finances so that we never have to resort to an IMF bailout program".

He said, "If we are to stay out of such interventions, the current government and the following governments must stay within the boundaries of the framework. it is for the respect of this discipline that the law on fiscal responsibility has been adopted. "

He added that the government has also limited the budget deficit to no more than 5 percent of the country's GDP each year.

"We have also set up a Presidential Advisory Council, chaired by distinguished and distinguished Ghanaian economists, to advise the President on steps to ensure the maintenance of fiscal discipline. We will maintain fiscal discipline because it is on this basis that we can manage an economy in an intelligent and rational way and give investors the badurance that they can examine your economy and invest in Ghana. " , added the president.

"The big global companies are planning to build bases here because of the current economic situation," added the president.

"They all do it and do projects in Ghana because the fundamentals of the economy are now in the right place. The Ghanaian economy looks robust and is organized and managed in a disciplined way, "he said.

He stated that the law on vigilantes would be definitively adopted, regardless of the meeting of the NPP and the NDC on the subject.

"The legislation is about to ban it. We are still enacting the law of the "vigilante", "he said.