Minority to drag Finance Minister before Parl over Ghana’s debt stock

The Minority in Parliament has hinted of summoning the Finance Minister Ken Ofori-Atta before the house top answer questions over Ghana’s rising debt.

According to them, claims by Information Minister, Kojo Oppong Nkrumah that government is managing the economy well is untrue.

Addressing the press on Tuesday Minority’s spokesperson on Finance Ato Forson said the country’s debt profile which used to be at ¢137 billion in 2016, has shot up to ¢200 billion.

“The ¢200 billion national debt represents an increase of about ¢80 billion in the last two and half years alone by President Akufo-Addo and has raised the debt to GDP ratio from 56% in 2016 to almost 58%,” Mr Forson claimed.

Information Minister Kojo Oppong Nkrumah last week rubbished all the claims by the Minority on the debt of the country.

He said in a statement that a change in the nominal stock did not mean government has taken new loans.

The Minister said, ‘’As always, the very persons making the claims know the first addition to our debt stock is the current disbursements of loans contracted under their tenure.

“The ongoing disbursements of loans for the Eastern University and the Tema Mpakadan railway, just to mention a few, all contribute to the ¢80 billion change in our nominal debt stock,” he said.

But the Minority at the press conference said the explanation by government was dishonest.

“We have been very generous in sticking to the official numbers and not applying the outrageous principles and calculations used by the Vice President and the then NPP stalwarts when they were in opposition.”

He said the Minority will use parliamentary procedures to ensure better management of the debt.





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