Government sets another record again
Now and then, successive Ghanaian governments move swiftly to seek financial assistance, meanwhile, you have properties that can pay all our debts and rebuild this nation from scratch to a world standard. Africa is not poor but lacks genuine leaders who have the tenacity to transform the continent.
Seeking International help in terms of the financial crisis is not new in the African political space and it’s mostly provided by the International Monetary Fund or Eurobond. The ‘Economic Management’ has necessitated going for financial support, for which we will appear momentarily relieved, and then get back to hard times because the bailout also comes with its cost.
Successive Governments have sought financial aid and it has been so for a very long time. However, the current administration’s borrowing supersedes all of the previous government.
The breakdown of Ghana’s Eurobond is as follows:1. Kufuor’s government borrowed USD750 million Eurobond
2. Atta-Mills did not have any Eurobonds at all
3. Mahama’s government borrowed USD3.5 billion
4. Nana Akufo-Addo’s government has borrowed USD13.5 billion in Eurobonds to date. This is just within five years.
Anybody remembers the bashings that past administrations received for their debt binge? Politics is an interesting thing.
