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Ghana owes us$ 37.68 billion not us$24 billion

Comment: PRESIDENT MAHAMA IS JUST DUMB

Author:
SARPONG
Date:
2016-03-15 04:55:37
Comment to:
Show me that CIA library or book


President Mahama is just dumb and simplistic when it comes to financial matters. He just assumed our national debt of 96 billion cedis when converted by using the current exchange rate of cedi to the dollar equals 24 billion dollars. What a simplistic way of reasoning.

The CIA and Dr Bawumiah figures though I have not researched it yet seems more plausible and sensible.

What President Mahama should realise is that, his Ndc government started borrowing in 2009 when the exchange rate of the dollar to cedi was like $1.00=GHs 1.27 and the exchange rate since then has been going up. Even the money this government borrowed internally, most from Bank of Ghana was borrowed in dollars.

It is simplistic and childish on Mahama's part to use the present exchange rate to convert the cedi amount to dollars.

As it is now, Ghana will need more than 96 billion cedis to pay our debts in dollars. 96 x $3.76.

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03-15 04:21
 
 
 
 
PRESIDENT MAHAMA IS JUST DUMB
SARPONG
03-15 04:55