News:
August 4, 2017
Former Deputy Minister of Finance Kweku Ricketts Hagan says the financial approach the Finance Minister has adopted by engaging in 7 to 15 bond and debt re-profiling does not necessary means Ghana’s debt stock is going to come down.
He not that, the interest burden on the budget will go down and burden on expenditure goes down as a result of not paying the same amount of interest on short bonds.
“You get a fiscal space in your budget because you are not paying high on your short term interest rate bond or debts you obtain for a long term because you have profile and it gives you space”, he said.
According to the former Deputy Minister of Finance during the 2016 Presidential and Parliamentary camping the Vice President told Ghanaians, we have money in Ghana, but he traveled to China to look for money.
“They have not been honest with Ghanaians the complication they are having now they are now trying to dance around their own dishonesty, they said we are not going to borrow now they have to find a way to circumvent around this issue”.
He not that it is the same economic formula that the previous National Democratic Congress was using but they were being told they were incompetent.
“What are they doing differently from the previous government debt re-profiling, it is something you heard former Finance Minister Seth Terkper talk about”?
And noted that all these technical economic jargons the New Patriotic Party (NPP) government is using are only giving the impression that they are doing something different but it’s the same economic practice the NDC government used, he said.
By: Kwaku Sakyi-Danso/ghanamps.com