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General News of Friday, 30 July 2021


We’re drowning in debt because of your reckless borrowing – Sammy Gyamfi to Ofori-Atta

National Communications Officer of the National Democratic Congress, Sammy Gyamfi National Communications Officer of the National Democratic Congress, Sammy Gyamfi

National Communications Officer for the opposition National Democratic Congress (NDC), Sammy Gyamfi has said Finance Minister Ken Ofori-Atta did not tell Ghanaians the true state of the Ghanaian economy during the presentation of the mid-year budget review.

Addressing the House, Ofori-Atta told Parliament that government will not spend beyond the GHc129 billion that was approved for it earlier this year.

Among other things, the minister indicated that the cedi has been relatively stable against major trading currencies this year and hinted the government has planned to create about 1 million jobs before the end of President Akufo-Addo’s tenure.

But speaking on the Gumbe Show on TV XYZ, Sammy Gyamfi said Ofori-Atta was not candid with the citizens, stressing the minister should have told Ghanaians the economy is in crisis.

“I was expecting Finance Minister Ken Ofori-Atta to say the country’s debt has brought us to HIPC status,” Gyamfi told host Mugabe Maase. “The government is borrowing and overburdening Ghanaians.”

He said the Akufo-Addo’s insatiable taste for borrowing has ballooned the country’s public debt stock, adding “Today, if we are to share the cost of the loans and pay, every Ghanaian, including newborns, will have to pay GHS 11,000.”

He added, “If they don’t change their ways and continue to borrow for ‘chop chop’, we will default in the payment of loans. If care is not taken, Ghana will be declared as bankrupt.”

Meanwhile, the Minority Leader, Haruna Iddrisu, believes the Akufo-Addo administration is banking its hopes on debt forgiveness.

His comment was in reaction to following the mid-year budget review that was presented by Ofori-Atta.

Mr. Iddrisu, who was not impressed by the government’s decision not to request more funds, described the state coffers as an empty calabash.

“You don’t drink water from an empty calabash, so we can understand why he is not here to ask for money,” the Minority Leader noted.

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