Connect with us

Ghana Politics

NDC Charges Govt To Seek IMF Debt Relief

Published

on

NDC Charges Govt To Seek IMF Debt Relief

The opposition National Democratic Congress (NDC) has charged the government to seek urgent debt relief from the International Monetary Fund (IMF) through the newly proposed Debt Relief Initiative.

This, NDC said, is because the current debt profile of the country makes it unsustainable and is putting severe pressure on the nation’s finances making it difficult to meet debt service deadlines while meeting other expenditure commitments at the same time.

READ ALSO: Blame Nana/Bawumia For Ghana’s Woes, Not COVID-19 – Ato Forson

Member of Parliament (MP) for Ajumako-Enyam-Essiam Constituency and Minority Ranking Member on the Finance Committee of Parliament, Cassiel Ato Forson, disclosed this at a Policy Dialogue held at the University of Professional Studies, Accra.

NDC

“The Akufo-Addo and Bawumia government must seek urgent debt relief from the International Monetary Fund through the newly proposed Debt Relief Initiative, known as the Common Framework for Debt Treatments Beyond the Debt Service Suspension Initiative, which can be likened to the HIPC Initiative,” Mr Forson said at the event attended by a cross-section of Minority MPs and some academics drawn from various universities in the capital.

READ ALSO:   Ken Ofori-Atta To Present Mid-year Budget Review

He said available figures show that up to 87% of the government’s tax revenue went into debt servicing which is the payment of interest and amortisation alone leaving very little for investment in critical sectors of the economy.

READ ALSO: John Dumelo Suggests 5-years Presidential Term; Twitter Users Divided

This, he said, would worsen if the current borrowing situation continues into the foreseeable future.

“Failure by the Akufo-Addo and Bawumia government to do as recommended, within the next 18 months, would expose Ghana to a high risk of default on its debt service obligations which will plunge the country into much deeper economic crisis,” he said.

Source: GhArticles.com

Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Ghana Politics

Kwame A Plus Blames President Akufo-Addo’s ‘Under Performance’ Partly On His Age

Published

on

Kwame A Plus Blames President Akufo-Addo's 'Under Performance' Partly On His Age

Controversial Political activist and businessman, Kwame Asare Obeng popularly called Kwame A-Plus has rated the performance of the president as poor claiming his age has affected his ability to govern the country effectively, giving him 20%.

Berla Mundi shared a tweet of what A-Plus supposedly said on TV3’s NewDay about the president’s performance in the last 5yrs saying his age has affected his ability to govern the country effectively.

According to the post, Kwame A-Plus gave the president’s performance  20% and he thinks he’s overwhelmed, and his age has affected his ability to govern the country effectively which has turned him into a pastor now as he’s more lenient than he used to be.

READ ALSO:   Messi Makes Huge Sacrifice To Sign New 5-year Deal With Barcelona

To A-Plus going by the post Berla Mundi made, the president has become soft and not able to govern the country effectively because he’s overwhelmed and his age is also playing a very vital role in his inefficiency.

See post below

We Will Love You To Join Our Over 190k Members Instagram Family With Just One Click @gharticles

Continue Reading

Ghana Politics

We Can’t Continue To Borrow; E-Levy Is Our Only Option – Ursula Owusu

Published

on

E-levy Saga: If You Send MoMo More Than GHS 100, You're Not Poor - Ursula Owusu

Ursula Owusu-Ekuful, Minister of Communications and Digitization, believes Ghana cannot keep begging or borrowing to finance its growth.

As a result, she claims the only way to increase income is to collect the 1.75 percent E-tax on financial transactions.

She said the E-levy would offer Ghana the much-needed resources to carry out its various developmental initiatives during a government town hall gathering in Koforidua, Eastern Region.

The cash must be created domestically or we must borrow, and we cannot continue to borrow to support our progress.

READ ALSO:   Present A Revised Budget To Parliament - Bagbin Tells Finance Minister

“To achieve Ghana beyond assistance, we must all support the e-levy and contribute to national development,” she stated.

Ursula Owusu-Ekuful cautioned that continuing to borrow from donors might rob Ghana of its independence and autonomy.

“Donors will control our growth speed as long as we are reliant on them,” she envisaged.

We Will Love You To Join Our Over 190k Members Instagram Family With Just One Click @gharticles

Continue Reading

Ghana Politics

Fmr Prez John Mahama To Launch Atta Mills Memorial Heritage

Published

on

Fmr Prez John Mahama To Launch Atta Mills Memorial Heritage

Former President John Mahama is set to launch a memorial heritage in honour of late former President John Evans Atta Mills.

The establishment named John Evans Atta Mills (JEAM) Memorial
Heritage was announced by a group of academics, professional colleagues, students, family and appointees of the former President.

The launch has been scheduled to take place at the Cedi Conference Centre, the University of Ghana on February 1, 2022.

The Memorial Heritage is a non-profit, independent, non-partisan organization anchored in Professor Mills’ passion and commitment to inclusivity, transparency, accountability, and his relentless quest for peace and a better society.

It will be chaired by Nana Kobina Nketsia V, Paramount Chief of the Essikado Traditional Area in the Western Region.

Senior Economist and elder statesman, Mr Kwame Pianim, is also expected to deliver the main speech at the launch themed The man John Evans Atta Mills – 10 years on.

READ ALSO:   Divorce, Suicide On The High In Jomoro Due To Closure Of Borders - Jomoro MP

There will be thematic presentations by Professor Akua Kuenyehia, former President of the International Criminal Court, the Hague, Professor Francis Dodoo, a former Pro-Vice-Chancellor of the University of Ghana and four-time Olympian.

Dr Esther Ofei-Aboagye, a former Director of the Institute of Local Government Studies will also be present.

These were contained in a statement signed by a former Health Minister, Alexander Segbefia which

A group of academics, professional colleagues, students, family and appointees of President John
Evans Atta Mills today announced the establishment.

We Will Love You To Join Our Over 190k Members Instagram Family With Just One Click @gharticles

Source: GhArticles.com

Continue Reading

Trending