Bawumia: Interest on Ghana's debt six times oil revenue

Read Article

Comments (67)

This article is closed for comments.

Read Comments Comments (67)

Joe 8 years ago

Ghanaians should listen to Bawumiah because this USELESS NDC government led by Mahama has destroyed this nation without nothing to show for. They should see the light and vote this USELESS NDC government out of power in 2016.

Ghanaians should listen to Bawumiah because this USELESS NDC government led by Mahama has destroyed this nation without nothing to show for. They should see the light and vote this USELESS NDC government out of power in 2016.
kaketonti 8 years ago

IT SEEMS THE COUNTRY IS BROKE?ONLY THE BONE IS LEFT.WHY CHANGE THE GOVT;AND AIM FOR POWER?.MISCHIEF.LIST ALSO THE EXPENDITURE ON DEVELOPMENTS.

IT SEEMS THE COUNTRY IS BROKE?ONLY THE BONE IS LEFT.WHY CHANGE THE GOVT;AND AIM FOR POWER?.MISCHIEF.LIST ALSO THE EXPENDITURE ON DEVELOPMENTS.
insight to the bone 8 years ago

We have on several occasions stressed and elaborated the evil Islamic pepeni criminal mafia and the callousness of the hegemony ayigbe ndc. What the ayigbe and pepeni have in common are their intrinsic evil , wickedness devoi ...
read full comment

We have on several occasions stressed and elaborated the evil Islamic pepeni criminal mafia and the callousness of the hegemony ayigbe ndc. What the ayigbe and pepeni have in common are their intrinsic evil , wickedness devoid of humanity and hatred of the christian dominated Akan majority. Winston Churchill in 1899 then a journalist noted the most retrogressive ideology/religion know to humanity is Islam and now we see the day is coming when the whole world will have to ban that fake religion and go to war to wipe them out from the face of this earth. Islamisation has intensified over the last 3 decades with mosques now in every village or hamlet , we even have a a copy of haya Sofia the blue mosque in the center of Accra. We shall know the tree by its fruits and the fruits of islam are hate ,deceit, lies, murder , destruction, mistrust , hypocrisy and retrogression never fellowship or the the spread of goodwill to your fellow man. Mankind will sooner or later begin a proper war against Islam instead of this botched up miserable attempt to show off their new weapons and toys we see today. Look at our pepeni/ayigbe infested govt and know they can never develop or do anything right as their hearts are black and consumed with hate. Common sense and practical solutions can never be implemented . Chairman Mao Zedong said it doesnt matter if the cat is white or black as long as it catches mice . Our non effective govt can never learn from the experiences and lessons of those nations that have succeeded . The essence of development is the ability to mobilize and unify the majority of the positive elements in our society toward the progressive targets of acquiring technology for the industrialization , increase productivity , secure or create new markets . This is basically what the Japanese , Germans , Koreans , Chinese have done but our govt is focused more on deny the Akans freedom , discrimination and undermining every initiative or effort of the Akans . Fifi Kwetey was one minister in charge of economic planning and development but not once did he open his mouth to outline a strategy or encourage investments in key sectors rather all we heard was propaganda bullshit. . It rotten and stinks to high heaven that true Akan statesmen and intellectuals of proven achievement such as Kofi Annan or Sam Jonah have distanced themselves . Any Akan who has made the naive mistake of joining has been hounded like a dog like Mills , or been setup to take a fall or ended up being falsely accused. Yes there is no party politics rather tribalism and an ongoing undeclared war against Christians , Akans and any who dare think with a free mind. Only a fool believes that a regime born in the blood of the innocent will end with the ballot box , it can only end in war. Our election is going to be rigged with the help of the treacherous traitor Nzema EC and the violence that follows will be used as another opportunity to kill more Akan intellectuals or potential leaders .The revenue of the govt is over 80% used to pay wages that are on the level of pocket money for a teenager anywhere else in the world but still they refuse to do what is necessary to raise the standard of our people because they believe the people weakened by poverty also loose the will to fight back against oppression and injustice , a collective Stockholm syndrome where the victims become willing perpetrators of crimes together with their captors . A miserable state of affairs indeed . As usual these pepeni /ayigbe criminals and their satelite allies such as the some Gas , Adas etc will try to insult me instead of challenging the truths , lately i laugh since they have progressed from calling me a madman , vulgarities against my ancestors or parents to openly calling me NDC . Today in Ghana the biggest insult is to call someone NDC not so long ago we had to whisper we were Akan today is booming from the highest levels and we are proud. A word to the NDC beware of the wrath and fury of a patient man as we Akans are patient until the time is right
OLD SOLDIER 8 years ago

Author:-KOJO...Mr better watchout ur head, ur tribalistic, extremism&fascist ideas smells like NDC and ISIS combined. For these are people who never think objectively about issues but are blinded by tribal or religious hatred ...
read full comment

Author:-KOJO...Mr better watchout ur head, ur tribalistic, extremism&fascist ideas smells like NDC and ISIS combined. For these are people who never think objectively about issues but are blinded by tribal or religious hatred and enviness. A true Akan is not welcomes and absorbs all people into their folds. The Akans , the Bonos, Akyems and Ashantis have given large portions of their farmlands to the Northerners, Krobos and Ewes to farm on for generations.But However the NDC goes round to incite these tribes who make their livelyhoods on Akan land against their landlords. Please do not copy them, for it is only the corrupt and selfish politicians who preach such evil.One day the people will see the light and turn against them.
Mahmoud 8 years ago

If Mahama hadn't stolen the nomination from his own party, I don't think the NDC party, with all its hypocrisy, would have nominated freely someone accused of inflating the price of plans by millions of dollars corruptly as t ...
read full comment

If Mahama hadn't stolen the nomination from his own party, I don't think the NDC party, with all its hypocrisy, would have nominated freely someone accused of inflating the price of plans by millions of dollars corruptly as their presidential candidate. After the undemocratic nomination, he slept in bed with the EC and Atugbah to steal the verdict of Ghanaians and became president of Ghana fraudulently.

Mahama is not only leading the most corrupt government in the history of Ghana, he himself is corrupt and rotten to the core. Ghanaians will surly get rid of him in 2016 even if he is still in bed with the EC because they are fed up with his corrupt and inefficient government. Moreover, he is soiling the good name of northerners.
PRINCE KWASI ADADE (OFIE P33) 8 years ago

SOURCE: myjoyonline.com------Executive Director of the National Anticorruption Action Plan (NACAP) says they would be compelled to go to court to demand accountability from government over its failure to retrieve monies wrong ...
read full comment

SOURCE: myjoyonline.com------Executive Director of the National Anticorruption Action Plan (NACAP) says they would be compelled to go to court to demand accountability from government over its failure to retrieve monies wrongly paid to individuals in judgement debt.

Mrs. Linda Ofori Kwafo is baffled at government’s lackadaisical approach to pursuing beneficiaries of such monies.

The anticorruption campaigner was speaking on the Super Morning Show, Tuesday, December 9, 2014 in connection with the announcement by Deputy Attorney-General Dominic Ayine government that Gh?14.5million had been retrieved as part of the illegal money paid to contractors of the Ghana Youth Employment and Entrepreneurial Agency (GYEEDA).

President Mahama at a conference organized by NACAP on Monday, also disclosed that about 300 people have either been convicted or are facing trial for corruption-related offenses in Ghana since 2013.

“It is disheartening…We need a breakdown of the information they put across there,” Mrs. Ofori Kwafo retorted. According to her, “ the GYEEDA case is small”.

She recalled the “good cases” won in court by former Attorney-General Martin Amidu in which individuals and organisations that benefited from such wrongful payments were ordered by the Supreme Court to return the monies to the state.

The Supreme Court in June 14, 2013, ordered Waterville Holdings Ltd. to return to the state in excess of 21million Euros obtained illegally arising out of claims it brought against the state in 2009. A week after, the court again ordered businessman Alfred Woyome to refund a total of Gh?51.2 million judgement debt payment he received between 2009 and 2010.

The Court in another landmark judgment on July 29, 2014, ruled that Spanish-based Company, Isofoton pay back to the state a total of $325,472 and the interest accrued on the amount since 2011- the year in which the monies were paid.

“The amounts involved are huge…we need such monies to move our economies forward and government officials are silent on them,” the NACAP Executive Director questioned.

“Civil Society Organisations want to make the recovery of such monies…they should give us the detailed breakdown for us to know the progress that we are making.

“We cannot go and collect the monies; the state has a responsibility…we need the resources,” she demanded.

She hints the Civil Society Organisations will not hesitate to choose the option of “going to court and demanding for accountability so far us government’s responsibility in the fight against corruption is concerned”.

“We have also signed onto the United Nations Convention Against Corruption, which actually mandates us to be able to recover stolen assets that have been hidden outside this country. If within the borders of our own nation we cannot retrieve monies then how well would we able to retrieve [stolen state funds lodged] in Swiss banks and the rest?

“It’s no wonder, therefore, when citizens say that…they don’t actually have trust and confidence in government’s ability to fight corruption,” she told Kojo Yankson, host of the Show.
OLD SOLDIER 8 years ago

AUTHOR: NDC-------
If presidency was just borrowing to build bridges, construct roads, and schools then any IMBECILE can become president, but Mahama and his government can't use their brains to transform the economy to cre ...
read full comment

AUTHOR: NDC-------
If presidency was just borrowing to build bridges, construct roads, and schools then any IMBECILE can become president, but Mahama and his government can't use their brains to transform the economy to create jobs and opportunities for the teeming unemployed graduates, mahama is just useless
TRUTH HURTS 8 years ago

AWAITING FOR THE RIGHT TIME PERIOD. TIME WILL TELL AND ALL THESE NDC THIEVES WILL BE BRING INTO BOOKS, MARK MY WORDS, NATIVE GHANAIANS ARE NOT FOOLS, WATCH AND PRAY THAT IS ALL, GOD TIME IS THE BEST PERIOD

AWAITING FOR THE RIGHT TIME PERIOD. TIME WILL TELL AND ALL THESE NDC THIEVES WILL BE BRING INTO BOOKS, MARK MY WORDS, NATIVE GHANAIANS ARE NOT FOOLS, WATCH AND PRAY THAT IS ALL, GOD TIME IS THE BEST PERIOD
d'SigNstyle 8 years ago

he is just a moron..degrading akans to total pit;Most akans are open minded people that embrace everybody

he is just a moron..degrading akans to total pit;Most akans are open minded people that embrace everybody
#Kwaseabinti. 8 years ago

That's the whole problem Africa is facing,tribalism. Fools like u who think they r better human beings because they belong to a certain tribe.

That's the whole problem Africa is facing,tribalism. Fools like u who think they r better human beings because they belong to a certain tribe.
Kwabena Larbi 8 years ago

You think Ghanaians are all fools like you; no intellectuals?

You think Ghanaians are all fools like you; no intellectuals?
DIET 8 years ago

NO LENDER WOULD LEND TO GHANA IF GHANA HAD NO CAPACITY TO REPAY THE DEBTS. LENDERS ANALYSE OUR ECONOMY ESPECIALLY OUR EXPECTED CASH FLOWS BEFORE THEY LEND TO US SO BEFORE THEY LEND TO US THEY KNOW WE HAVE CAPACITY TO REPAY TH ...
read full comment

NO LENDER WOULD LEND TO GHANA IF GHANA HAD NO CAPACITY TO REPAY THE DEBTS. LENDERS ANALYSE OUR ECONOMY ESPECIALLY OUR EXPECTED CASH FLOWS BEFORE THEY LEND TO US SO BEFORE THEY LEND TO US THEY KNOW WE HAVE CAPACITY TO REPAY THE DEBTS. BAWUMIA IS JUST POLITICKING.
DKB 8 years ago

Diet Have you heard of lenders who invest in risky ventures? They lend because of the huge interest rate and future returns they will make out of loans to Ghana. If all our expected cashflows will be used to service just the ...
read full comment

Diet Have you heard of lenders who invest in risky ventures? They lend because of the huge interest rate and future returns they will make out of loans to Ghana. If all our expected cashflows will be used to service just the interest on these loans what will we have left to develop other areas and who will pay the capital when it matures assuming our repayment terms are interest only and capital repayment at the end of the loan period. Lastly are you aware we currently borrow to pay our existing loans? I'm not sure you really understand the issue at stake.
JDM? 8 years ago

Lenders will give, so we should take. our children will be sold to pay Ghana's debt. what would we tell the children? "Cry the beloved country", or "Weep not child"? Posterity will judge us.

Lenders will give, so we should take. our children will be sold to pay Ghana's debt. what would we tell the children? "Cry the beloved country", or "Weep not child"? Posterity will judge us.
Do you know about Greece, Mexico etc. 8 years ago

A lot of money was loaned to Greece and they defaulted. Also, countries such as Mexico and Argentina have once defaulted on their loans. What "capacity to repay" to repay are you talking about are you talking about as far as ...
read full comment

A lot of money was loaned to Greece and they defaulted. Also, countries such as Mexico and Argentina have once defaulted on their loans. What "capacity to repay" to repay are you talking about are you talking about as far as Ghana is concerned. If Ghana has the capacity it won't be borrowing at the madding rate she is borrowing. Fairly soon this country would be belly up begging creditors for debt relief.
DAVID TEMA. 8 years ago

Ghanaians cannot listen to a useless economist like bawumia. Npp will soon kill him by poison like they did to hawa yakubu. akuffo addo is soon going to die and you soon go to congress to elect a new flag bearer. No pepeni is ...
read full comment

Ghanaians cannot listen to a useless economist like bawumia. Npp will soon kill him by poison like they did to hawa yakubu. akuffo addo is soon going to die and you soon go to congress to elect a new flag bearer. No pepeni is allowed as flag bearer in npp. Dont you know. You only know how to spew poisonous economic concepts. What did you do when you were in power. Dr. John Mahama is paying some of the debt you owed when you were in power.
Nii 8 years ago

The misuse of Ghana's resources by Mahama couple with the huge debts that he is saddling this nation with, is a threat to the security of this nation. If you borrow and waste the money on projects which costs 10 times its ac ...
read full comment

The misuse of Ghana's resources by Mahama couple with the huge debts that he is saddling this nation with, is a threat to the security of this nation. If you borrow and waste the money on projects which costs 10 times its actual cost and also share it to ur friends like RLG, just like the GHc 200million loan that was taken for SADA from Stanbic Bank, then it beats my mind that Ghanaians dont see this Mahama as a threat to they and generations to come security. Ghanaians wake up b4 its too late.
APONKYE 8 years ago

JDM, ignore the ugly noises from the NPP. That is their stock in trade since before Nkrumah. So long as the development projects are springing up as we are seeing, you have our blessing to go on borrowing. Even a debt of GHS9 ...
read full comment

JDM, ignore the ugly noises from the NPP. That is their stock in trade since before Nkrumah. So long as the development projects are springing up as we are seeing, you have our blessing to go on borrowing. Even a debt of GHS99 trillion, the investments will pay for it. After all, the US government is the largest borrower in the world.
Nii 8 years ago

Dare not compare nation wrecking ndc party to Nkrumah.Is the PNDC/NDC not responsible of the stealing of equipments and destruction of over 300 companies set up by Nkrumah. When urndc came to power, Ghana committed debt stoc ...
read full comment

Dare not compare nation wrecking ndc party to Nkrumah.Is the PNDC/NDC not responsible of the stealing of equipments and destruction of over 300 companies set up by Nkrumah. When urndc came to power, Ghana committed debt stock was GHc9.5b, it has increased 10x to 99b. Be honest with ur self do u see 10 times development atound u? Dont talk of circke interchange, because K4 built more than 12 interchanges at Mallam,Achimota Forest,Tetteh Quarshie,Legon, Atomic,Alajo,Achimota,Old Peace FM,Tantra Hill jn,Ofankor,Suhum,Sofoline&Asafo. K4 doubled Ghanas road network from 33000km to 68000 km.and all what ur merciless Mahana could say was to call all this k4 development an excercise in mediocrity. It is true that "for lack of knowledge people perish"
APONKYE 8 years ago

Who completed all these interchanges? NDC
Who got the funding for Tetteh Quarshie? NDC of course.

Sadly, because of the change in government, Kufuor reduced the design the design of the Tetteh Quarshie interchange (which ...
read full comment

Who completed all these interchanges? NDC
Who got the funding for Tetteh Quarshie? NDC of course.

Sadly, because of the change in government, Kufuor reduced the design the design of the Tetteh Quarshie interchange (which was a more advanced form of Ako Adjei) and constructed something which is no longer an interchange. That enabled him to steal the lands surrounding the Circle and gave some to his daughter and she went into partnership with South Africans to build the Accra Mall. The rest of the outlying lands he left for himself with which he put up the Villgeois flats in collaboration with the Trassaco owner.

I hope you can understand that the funds for an interchange was far more than what was constructed, and Kufuor pocketed the rest.

Nii, I hope the kenkey you ate has not fermented and produced a lot of alcohol that is intoxicating you. I hope you are awake enough to know that the traffic chaos at Tetteh Quarshie is the direct result of Kufuor's greed and thievery. May God curse Kufuor and his descendants to four generations after him, and reserve the hottest part of hell for Kufuor. In fact, God should add Nii to this part for him to serve Kufuor since he adores him so much.
HolyGhost 8 years ago

We will not listen to him, Bawumia is a pathological liar, No one should trust him.

We will not listen to him, Bawumia is a pathological liar, No one should trust him.
Bawku boy 8 years ago

Bawumia financial 'WizKid' and how do you intend to pay off this debt in four years when voted into power without shifting the blame? Liars!

Bawumia financial 'WizKid' and how do you intend to pay off this debt in four years when voted into power without shifting the blame? Liars!
totoba 8 years ago

...WHAT? What is the interest on/in NPP?

...WHAT? What is the interest on/in NPP?
KFK 8 years ago

Mahama bribing chiefs opinion leaders and even NPP senior members to stay in power. Ghanaians must wise-up and vote them out

Mahama bribing chiefs opinion leaders and even NPP senior members to stay in power. Ghanaians must wise-up and vote them out
KFK 8 years ago

The rate we are going we will be Africa -Greece in no time. The sad news is that there no mechanism for debt relief as we had in HIPC. Secondly the Western World countries will not come to our aid. After all these debt we are ...
read full comment

The rate we are going we will be Africa -Greece in no time. The sad news is that there no mechanism for debt relief as we had in HIPC. Secondly the Western World countries will not come to our aid. After all these debt we are still in darkness. Ehhhh be
Y B 8 years ago

Get approved quality health product and prevent yourself from the following disease and sickness.
Are you suffering from Cancer? cancer of any kind, HIV Aids, ulcer, heart and liver disease, kidney problem, stroke, brain tum ...
read full comment

Get approved quality health product and prevent yourself from the following disease and sickness.
Are you suffering from Cancer? cancer of any kind, HIV Aids, ulcer, heart and liver disease, kidney problem, stroke, brain tumor, mental problem, typhoid and Hay fever, diabetes, high blood pressure, hypertension, asthma, sickle cell, malaria, hepatitis, anemia, leukemia, thobaclosis, prostate, urinary infections, gonorrhea and syphilis, Impotency, sexual performance, infertility, low sperm count, fibroid, menstrual disorder, body pain, waist pain, neck and back pain, constipation, stomach toxins, bacterials and viruses, body ph and immune booster, clear body fat (obesity) pot belly, weight lose, face rankle, anti again, glaucoma, poor eye sight, insomnia (sleep disorder and many more.

Call For your health needs
Distributor & Local Agent needed.
0509384881
0549112157
Yahuza 8 years ago

NPP deserves power 2016

NPP deserves power 2016
kaketonti 8 years ago

NPP PARTY OF LIARS-AUTHUR K. DESERVES PERPETUAL THIRD CLASS OPPOSITION.

NPP PARTY OF LIARS-AUTHUR K. DESERVES PERPETUAL THIRD CLASS OPPOSITION.
Bobby, Denmark 8 years ago

Don't you feel say to this from Bawumia?Or maybe you also gain from this corrupt ndc government?Stop being childish.Under this current government,there is no future for the youth.Wise up!

Don't you feel say to this from Bawumia?Or maybe you also gain from this corrupt ndc government?Stop being childish.Under this current government,there is no future for the youth.Wise up!
d'SigNstyle 8 years ago

if you don't change your mindset of getting degree and sit in the office..you will not benefit from any government since the trend of these modern world job prospect dependof science and enovation..most of these youth take ea ...
read full comment

if you don't change your mindset of getting degree and sit in the office..you will not benefit from any government since the trend of these modern world job prospect dependof science and enovation..most of these youth take easy course just to finish university which its advent effect go no where
National Agenda 8 years ago

Mahama is so much jealous of you because you are far, far, farrrrr better than him in all things. Mahama therefore employed Afoko to destroy your political future BUT they have failed. God and Ghanaians will bring you and Nan ...
read full comment

Mahama is so much jealous of you because you are far, far, farrrrr better than him in all things. Mahama therefore employed Afoko to destroy your political future BUT they have failed. God and Ghanaians will bring you and Nana to rule and save Ghana in 2016.
Sawu 8 years ago

Please why always npp are talking about Ghana oil.you are not the one want and sign for 10% contract for Ghana.?did the npp love Ghana?

Please why always npp are talking about Ghana oil.you are not the one want and sign for 10% contract for Ghana.?did the npp love Ghana?
Ghana Man 8 years ago

Nigeria produces 2.5 mil barrels daily, Ghana a paltry 150 thou barrels daily yet doomsday prophet BAWUMIA and Co would have the world think otherwise.

Nigeria produces 2.5 mil barrels daily, Ghana a paltry 150 thou barrels daily yet doomsday prophet BAWUMIA and Co would have the world think otherwise.
Kakaminamor 8 years ago

You just another idiot! Nobody takes you serious again. Every nation borrows to build its infrastructure and develop. When had govt. borrowing become a transgression? Even America has borrowed from the Chinese! Shut up give u ...
read full comment

You just another idiot! Nobody takes you serious again. Every nation borrows to build its infrastructure and develop. When had govt. borrowing become a transgression? Even America has borrowed from the Chinese! Shut up give us a break with your voodoo economics!
Nun 8 years ago

Calculate ALL revenue and compare with our debt before you make judgement. You can't pick only oil revenue. Our ability to pay is the most important thing.

Calculate ALL revenue and compare with our debt before you make judgement. You can't pick only oil revenue. Our ability to pay is the most important thing.
Tsatsu 8 years ago

Why are you trying to become vice president, how much did the government under Kuffour and Akuffo addo spend, anytime the price of oil drops , you come up with analysis based in the lower price.

Why are you trying to become vice president, how much did the government under Kuffour and Akuffo addo spend, anytime the price of oil drops , you come up with analysis based in the lower price.
BEN 8 years ago

Bawumia must to told that Oil does not contribute significant to our GDP thankfully. So it is not a threat in the medium to long term. He should be told that in the medium to long term, Ghana will be in a better debt position ...
read full comment

Bawumia must to told that Oil does not contribute significant to our GDP thankfully. So it is not a threat in the medium to long term. He should be told that in the medium to long term, Ghana will be in a better debt position. But now we need to borrow to to provide people with water, electricity, roads, hospitals and school. The people can't wait any longer and we can't tax Ghanaians anymore. He should confine his theory to his text book because, well, Zimbabwe is his test case and I don't think he did anything there to change to course of their economy
TIM 8 years ago

Look, even if it is 100 times, bawumia, you and your NPP will still be in opposition because you are fools who don't know how to win power.

Look, even if it is 100 times, bawumia, you and your NPP will still be in opposition because you are fools who don't know how to win power.
NPP Abanga 8 years ago

Nana Addo and Dr Bawumia b3ba 2016, Isha Allah,Ghanaians cannot continue to suffer after 2016

Nana Addo and Dr Bawumia b3ba 2016, Isha Allah,Ghanaians cannot continue to suffer after 2016
Bright 8 years ago

And so I will be when I say Ghana needs ten times its cocoa revenue for interest payments on its loans. Both statements mean zilch. Selective statistics is dangerous to Bawumia's politics. In any case the loans in question we ...
read full comment

And so I will be when I say Ghana needs ten times its cocoa revenue for interest payments on its loans. Both statements mean zilch. Selective statistics is dangerous to Bawumia's politics. In any case the loans in question were not contracted by the present governments alone. Some date back to the 70s and some to even the last NPP government. Let's wise up on political bias and selective statistics as a country.
DB 8 years ago

You don't get it Bright. The NDC alone has borrowed more than all the successive governments from the 1970's to the end of 2008 put together. Open your eyes. It is the mismanagement of the economy and loans taken that has con ...
read full comment

You don't get it Bright. The NDC alone has borrowed more than all the successive governments from the 1970's to the end of 2008 put together. Open your eyes. It is the mismanagement of the economy and loans taken that has contributed to the dumsor which is crippling the economy. The NDC are just bad managers of the economy SIMPLE!
Nii 8 years ago

Mahama Threat to Ghana's Security
The misuse of Ghana's resources by Mahama couple with the huge debts that he is saddling this nation with, is a threat to the security of this nation. If you borrow and waste the money on pr ...
read full comment

Mahama Threat to Ghana's Security
The misuse of Ghana's resources by Mahama couple with the huge debts that he is saddling this nation with, is a threat to the security of this nation. If you borrow and waste the money on projects which costs 10 times its actual cost and also share it to ur friends like RLG, just like the GHc 200million loan that was taken for SADA from Stanbic Bank, then it beats my mind that Ghanaians dont see this Mahama as a threat to they and generations to come security. Ghanaians wake up b4 its too late.
mahama the thief. 8 years ago

current ndc is made up of fools and thieves who are ruling ghana. they dont know anything about governance . mahama is a damn fool without sense.

current ndc is made up of fools and thieves who are ruling ghana. they dont know anything about governance . mahama is a damn fool without sense.
kutsii. 8 years ago

Why are people not commenting on Bawumia's nonsense? As for me I understand typical nonsense. So this is my comment. Akufo Addo's TWO BALLS oseee yieeeeh! !! Hmmmm Hmmmm. Akufo Addo's BALLS oooo hmmm Akufo Addo's BALLS oo ...
read full comment

Why are people not commenting on Bawumia's nonsense? As for me I understand typical nonsense. So this is my comment. Akufo Addo's TWO BALLS oseee yieeeeh! !! Hmmmm Hmmmm. Akufo Addo's BALLS oooo hmmm Akufo Addo's BALLS oooo hmmm hmmm!!!
Analyst 8 years ago

Developing a country's infrastructure now rather than later, is a smart thing to do. Nothing builds the capacity of a country's economy better than having the right infrastructure - roads, electricity, clean water, well equip ...
read full comment

Developing a country's infrastructure now rather than later, is a smart thing to do. Nothing builds the capacity of a country's economy better than having the right infrastructure - roads, electricity, clean water, well equipped hospitals, schools, airports, harbours, modern markets, well equipped security services etc.
How would NPP develop these infrastructures if they were in charge? Indebtedness in itself is not a bad thing. It depends on what you did with the loans in the first place. The US for example, has a debt that is over 20 trillion (thousand billion) dollars which is more than their GDP.
There are terms under which loans is taken with each loan having well defined due date for payment. In order words, all the loans taken by Ghana are not due for payment now but in the future. Thus lumping all the loans together as one, is intellectual dishonesty.
Sam 8 years ago

Which Party claims they have more lawyers than all parties put together? Under their 8 year rule they did nothing about our colonial cocoa affairs court building until a Party of non lawyers came up with such a beautiful cour ...
read full comment

Which Party claims they have more lawyers than all parties put together? Under their 8 year rule they did nothing about our colonial cocoa affairs court building until a Party of non lawyers came up with such a beautiful court complex....Under which honorable party did ur MPs have to work from their car booths .... Until it took the dishonorable party to give our 250 MPs decent offices to work ....The Party full of intellectuals would rather borrow to Build Preseidential Palaces....
Fools Die 8 years ago

Google and check the government that started that project.

Google and check the government that started that project.
ISSA ABONGO 8 years ago

"INTELLECTUAL DISHONESTY", IS THE PREFFERED BIG NDC "BROFO", FOR INSULTING A LEARNED INDIVIDUAL. I JUST KNEW, THAT SOON IT WILL FEATURE IN THE NDC FOOLSOLDIER'S INSULTS HERE. LO AND BEHOLD, KPAM, ALL OF A SUDDEN, LIKE MAGIC," ...
read full comment

"INTELLECTUAL DISHONESTY", IS THE PREFFERED BIG NDC "BROFO", FOR INSULTING A LEARNED INDIVIDUAL. I JUST KNEW, THAT SOON IT WILL FEATURE IN THE NDC FOOLSOLDIER'S INSULTS HERE. LO AND BEHOLD, KPAM, ALL OF A SUDDEN, LIKE MAGIC,"INTELLECTUAL DISHONESTY". FROM THEIR "ANALYST". HEAR, HEAR, "INTELLLECTUAL DISHONESTY".
George Nutsugah 8 years ago

There will surely be a change in political leadership in Ghana in 2016.

There will surely be a change in political leadership in Ghana in 2016.
PRINCE KWASI ADADE (OFIE P33) 8 years ago

SOURCE: myjoyonline.com------Executive Director of the National Anticorruption Action Plan (NACAP) says they would be compelled to go to court to demand accountability from government over its failure to retrieve monies wrong ...
read full comment

SOURCE: myjoyonline.com------Executive Director of the National Anticorruption Action Plan (NACAP) says they would be compelled to go to court to demand accountability from government over its failure to retrieve monies wrongly paid to individuals in judgement debt.

Mrs. Linda Ofori Kwafo is baffled at government’s lackadaisical approach to pursuing beneficiaries of such monies.

The anticorruption campaigner was speaking on the Super Morning Show, Tuesday, December 9, 2014 in connection with the announcement by Deputy Attorney-General Dominic Ayine government that Gh?14.5million had been retrieved as part of the illegal money paid to contractors of the Ghana Youth Employment and Entrepreneurial Agency (GYEEDA).

President Mahama at a conference organized by NACAP on Monday, also disclosed that about 300 people have either been convicted or are facing trial for corruption-related offenses in Ghana since 2013.

“It is disheartening…We need a breakdown of the information they put across there,” Mrs. Ofori Kwafo retorted. According to her, “ the GYEEDA case is small”.

She recalled the “good cases” won in court by former Attorney-General Martin Amidu in which individuals and organisations that benefited from such wrongful payments were ordered by the Supreme Court to return the monies to the state.

The Supreme Court in June 14, 2013, ordered Waterville Holdings Ltd. to return to the state in excess of 21million Euros obtained illegally arising out of claims it brought against the state in 2009. A week after, the court again ordered businessman Alfred Woyome to refund a total of Gh?51.2 million judgement debt payment he received between 2009 and 2010.

The Court in another landmark judgment on July 29, 2014, ruled that Spanish-based Company, Isofoton pay back to the state a total of $325,472 and the interest accrued on the amount since 2011- the year in which the monies were paid.

“The amounts involved are huge…we need such monies to move our economies forward and government officials are silent on them,” the NACAP Executive Director questioned.

“Civil Society Organisations want to make the recovery of such monies…they should give us the detailed breakdown for us to know the progress that we are making.

“We cannot go and collect the monies; the state has a responsibility…we need the resources,” she demanded.

She hints the Civil Society Organisations will not hesitate to choose the option of “going to court and demanding for accountability so far us government’s responsibility in the fight against corruption is concerned”.

“We have also signed onto the United Nations Convention Against Corruption, which actually mandates us to be able to recover stolen assets that have been hidden outside this country. If within the borders of our own nation we cannot retrieve monies then how well would we able to retrieve [stolen state funds lodged] in Swiss banks and the rest?

“It’s no wonder, therefore, when citizens say that…they don’t actually have trust and confidence in government’s ability to fight corruption,” she told Kojo Yankson, host of the Show.
Victor A. Young 8 years ago

Time to vote out this clueless and incompetent NDC govt from power. They are simply bent on borrowing just to create, loot and share the nation's money among themselves. Vote John Mahama and his gang of fraudsters out.Tiiifs!

Time to vote out this clueless and incompetent NDC govt from power. They are simply bent on borrowing just to create, loot and share the nation's money among themselves. Vote John Mahama and his gang of fraudsters out.Tiiifs!
Tsatsu 8 years ago

The hungry man is an angry man lol, No chop for shortiago and BaumIA will get the boot like Afoko as soon as they use him up.

The hungry man is an angry man lol, No chop for shortiago and BaumIA will get the boot like Afoko as soon as they use him up.
AMB 8 years ago

One-sided as usual with respect to oil revenue to debt interest cover. Oil price dropped at least 2x. With this what sense does it make to come up with such an absurd conclusion?

One-sided as usual with respect to oil revenue to debt interest cover. Oil price dropped at least 2x. With this what sense does it make to come up with such an absurd conclusion?
yaha 8 years ago

wat do u mean by dat

wat do u mean by dat
yaha 8 years ago

u ar more or less nicompop

u ar more or less nicompop
Anthony 8 years ago

Bawumia is just noise maker. He is irrational , dishonest and very stupid. And corrupt. He has a lot to answer for redenomination of the cedi , under his watch at CENTRAL BANK OF GHANA. He exposed his senselessness , dishones ...
read full comment

Bawumia is just noise maker. He is irrational , dishonest and very stupid. And corrupt. He has a lot to answer for redenomination of the cedi , under his watch at CENTRAL BANK OF GHANA. He exposed his senselessness , dishonest and corruption during ELECTION PETITION at the SUPREME COURT.
D.C. Boy 8 years ago

What Bawumia is not telling us is that the NPP under President Kuffuor signed the oil agreement that gives Ghana only 10% whilst allowing EO Group which it is alleged he is a partner 3%.

Now, can Bawumia tell us how much w ...
read full comment

What Bawumia is not telling us is that the NPP under President Kuffuor signed the oil agreement that gives Ghana only 10% whilst allowing EO Group which it is alleged he is a partner 3%.

Now, can Bawumia tell us how much we get for our 10% share? Merely mentioning oil revenue may sound to some people as huge amount but in real fact, it may just be peanuts.
BEN 8 years ago

At Least the government has reversed the negative trends compared to 2015 budget. We are indeed on the right path even though some people had wished the country bad luck so we can campaign on it. Those who complain about huge ...
read full comment

At Least the government has reversed the negative trends compared to 2015 budget. We are indeed on the right path even though some people had wished the country bad luck so we can campaign on it. Those who complain about huge borrowing, I will take comfort from the fact that some of us can see the physical infrastructural across the country and that the funds were not used to pay salaries and buy gold chains. But in anyway, I will entreat readers to read about M&M Theory in Finance at least to educate themselves about debt and equity mix in increasing profitability of firms.
Kwame Nkrumah's Ghost 8 years ago

I thinks is time this honorable intellectuals address solutions to the so called problems they find wrong with the ruling government and stop inciting people with their comments. If they have no solution then they should keep ...
read full comment

I thinks is time this honorable intellectuals address solutions to the so called problems they find wrong with the ruling government and stop inciting people with their comments. If they have no solution then they should keep mute if not they will inherit the worse economy of the state. Is time the two political parties join forces together to propel the country forward. They are just fooling the masses with their comments. I think every Ghanaian should be selfless for a better Ghana. People demand for salary increase but they dont work, they take bribes and keep on saying Kwame Nkrumah has killed an elephant so everyone can enjoy. Together we stand divided we fall as a nation. Okomfo b)ne se )man b3 b) a wote mu bi.
d'SigNstyle 8 years ago

without debt ;there will be no credit rating..Mr economist-turn _politician

without debt ;there will be no credit rating..Mr economist-turn _politician
SARFOWAAA 8 years ago

His is pathology intellectual lire.
He was a deputy governor of bank of Ghana when that draconian 4 zero slashes of our cedis throwing dust to Ghanaians that our currency is now matching US dollar.
Since when have you hear ...
read full comment

His is pathology intellectual lire.
He was a deputy governor of bank of Ghana when that draconian 4 zero slashes of our cedis throwing dust to Ghanaians that our currency is now matching US dollar.
Since when have you heard in a Ghanaian history of our budget statement being declare surplus or profit.
Flagstarhouse was built with a loan from Indian Govt.
Where was he when
BEN 8 years ago

Bawumia must to told that Oil does not contribute significantly to our GDP, thankfully. So it is not a threat in the medium to long term. He should be told that in the medium to long term, Ghana will be in a better debt posit ...
read full comment

Bawumia must to told that Oil does not contribute significantly to our GDP, thankfully. So it is not a threat in the medium to long term. He should be told that in the medium to long term, Ghana will be in a better debt position. But now we need to borrow to to provide people with water, electricity, roads, hospitals and school. The people can't wait any longer and we can't tax Ghanaians anymore. He should confine his theory to his text book because, well, Zimbabwe is his test case and I don't think he did anything there to change to course of their economy
BEN 8 years ago

Bawumia must to told that Oil does not contribute significant to our GDP thankfully. So it is not a threat in the medium to long term. He should be told that in the medium to long term, Ghana will be in a better debt positi ...
read full comment

Bawumia must to told that Oil does not contribute significant to our GDP thankfully. So it is not a threat in the medium to long term. He should be told that in the medium to long term, Ghana will be in a better debt position. But now we need to borrow to to provide people with water, electricity, roads, hospitals and school. The people can't wait any longer and we can't tax Ghanaians anymore. He should confine his theory to his text book because, well, Zimbabwe is his test case and I don't think he did anything there to change to course of their economy
Grew 8 years ago

I believe there are lots of Economist in Ghana with more business experience than Bawumia. Am a financial Economist myself with lots of business experience and I can comfortable say that being indepted is not always a bad thi ...
read full comment

I believe there are lots of Economist in Ghana with more business experience than Bawumia. Am a financial Economist myself with lots of business experience and I can comfortable say that being indepted is not always a bad thing especially in the medium to long them particularly if you are resourceful and investing in the right way. Nations have the right to borrow to invest. What's is bad is borrowing for subsidizing and creating inefficiencies.
Mr Shortman 8 years ago

What percentage of the oil revenue did your government leave for Ghana? Talk is cheap.

What percentage of the oil revenue did your government leave for Ghana? Talk is cheap.
MAHAMA CHEAP TALK 8 years ago

MAHAMA IS A THIEF PERIOD

MAHAMA IS A THIEF PERIOD
OMAN BAPA 8 years ago

DOC ALL THE WAY,IF INCOMPETENT,THIEF,JUJU MAAFIA MAHAMA DEAD GOAT CAN STAND HIM HE SHOULD STEP DOWN PERIOD,FOOOLISH CRIMINAL MAN,NONSENSE

DOC ALL THE WAY,IF INCOMPETENT,THIEF,JUJU MAAFIA MAHAMA DEAD GOAT CAN STAND HIM HE SHOULD STEP DOWN PERIOD,FOOOLISH CRIMINAL MAN,NONSENSE

Bawumia: Interest on Ghana's debt six times oil revenue

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (67)

Read Comments Comments (67)