GhArticles.com Every News in Detail
Former President of Ghana John Mahama reveals Ghana’s economy is already broken.
According to John Mahama, Ghana’s economy was broken beyond measure even before COVID_19 Virus invaded the country.
“The signs have been there that this economy was been mismanaged first by over-borrowing. Over four years he has gone to the capital market and raised over nine billion dollars and the nine billion has gone into consumption, you don’t see what it’s been used for. Normally if you go on the market and you raise money, you use a bit of it to retire your high-interest local debt but some part of it you use for projects that are tangible that transform the economy but that has not happened.” He revealed in an interview monitored by Ghanaarticles.com
READ ALSO: Nana Akuffo Addo Stopped Road Projects Because Of Politics -Mahama
“The signs have been there that this economy was been mismanaged first by over-borrowing. Over four years he has gone to the capital market and raised over nine billion dollars and the nine billion has gone into consumption, you don’t see what it’s been used for.”
Speaking further,he said “He’s just waiting to hand over a broken economy to the next administration. The economy is already broken. COVID didn’t break it. The thing is if you have an economy it must have sufficient buffers and so if you say this was the best economy in Africa and he was the best finance Minister and the economy was resilient, why is it that just one pandemic and your economy is already in ICU?”
Source: Ghanaarticles.com
