A communication team member of the opposition National Democratic Congress (NDC), for the Tema East constituency Reginald K. Yeboah popularly known as Kizito has expressed his bummer on how the Akufo Addo-led government is continuously borrowing but there is nothing to be shown as he criticizes the Mahama-led administration of mismanagement and incompetence in 2016 when he was vouching for the presidential seat.
“Although i am an NDC member we all thought that Nana Addo was the Messiah sent to this country to redeem Ghana from bad ruling as they claimed in 2016 but what we are witnessing under Nana Addo’s administration is a worse experience than before and no Ghanaian wants to go through such hardship anymore, we have the money so no borrowing, Ghana beyond Aid, we will build a resilient economy and all the big promises made by this government seems to be a mirage” he stressed.
He stated this on Plan B Fm morning show NKOSUONSEM when speaking to Ohene Addo on the issue of IMF cautioning the government of Ghana to stop borrowing from the Central Bank because its debt is ballooning.
IMF urges Ghana govt to stop borrowing from its central bank
An IMF spokesperson didn’t immediately respond to an email seeking comment. Spokespeople for the Ghanaian finance ministry and the central bank didn’t immediately respond to requests for comment.
The decision would bring a halt to central bank loans to the government that amount to about 40 billion cedis ($3.2 billion), according to one of the people.
Central-bank lending to Ghana’s government ballooned last year as investor concern about the state of the nation’s public finances depressed demand for its domestic bonds.
The central bank stepped in to provide funding for the budget and to roll over maturing loans.
An agreement would also bar state-owned enterprises such as the Ghana Cocoa Board, which owes about ¢7 billion, from using more central bank financing, according to the person.
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