Ghana's Finances NPP's alarming borrowing might get us back to HIPC - Spio Garbrah

But Spio Garbrah said they have have gone back on this promise and are borrowing more now than the previous administration.

  • Published:
Former Minister of Trades and Industry Dr. Ekow Spio Garbrah play

Former Minister of Trades and Industry Dr. Ekow Spio Garbrah

24/7 Live - Subscribe to the Pulse Newsletter!

Former Minister of Trade and Industry under the erstwhile NDC administration, Dr. Ekow Spio-Garbrah has warned of the consequences of the incessant borrowing by the current government.

He said the rate at which the New Patriotic Party is borrowing with a just over a year in government might hurt the country soon.

Prior to the 2016 general elections, borrowing became one of the main campaign issues with the NPP promising to significantly cut it should they win power.

READ ALSO: I won't contest Mahama in 2016 - Spio-Garbrah

But Spio Garbrah said they have have gone back on this promise and are borrowing more now than the previous administration.

"They complained a lot about the rate at which the government at the time was borrowing but at the last count, “they have borrowed about 10 billion dollars”, he said.

Mr Spio-Garbrah stated further that “there is a lot of assets in the country….If you go to the airport residential area and cantonment most of the houses there have been paid for….they have been paid for twenty-thirty years ago. Most Ghanaians build their houses without mortgages so a lot of capital is locked up in people’s homes.”

The former Minister, who is seeking to lead the NDC in the 2020 general elections also said when given the mandate to govern Ghana,  he will have much tighter public sector appointment process, where the growth of the public sector will reflect the growth of the economy.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Anas Expose Investigate Akufo-Addo too - Alban Bagbinbullet
2 Number 12 Kennedy Agyapong 'fingered' in the Anas investigative videobullet
3 Anas Exposé You have no power to order for Nyantakyi's arrest -...bullet
4 Allegations Nana Addo's appointees are cheap like 'kelewele' - A Plusbullet
5 Law Suit NPP lawyer threatens to place court injunction on Anas...bullet
6 Corruption Allegations CID invites Deputy Minister of Roads...bullet
7 CID Investigations A-Plus says he knows the outcome of Kwesi...bullet
8 Anas Exposé Nyantakyi's arrest is to cover up stinking...bullet
9 GFA Woes Nyantakyi will need an Obinim 'sticker' - Jon...bullet
10 NPP Race Bawumia is the best to take over from Nana...bullet

Top Videos

1 Corruption Allegations NDC MP dares CID boss to arrest A-Plusbullet
2 Mo Ibrahim "You are crazy if you vote for old men as President"bullet
3 Gyankroma Akufo-Addo President’s daughter abandons duties as Art...bullet
4 Nana Addo $5bn ‘missing’ from gold exports to UAEbullet
5 Government News Names you can't register according to Birth and...bullet
6 State Visit Mahama holds discussions with Dubai rulerbullet
7 2020 Polls I'll contest as president in elections 2020 -...bullet
8 Politics Akufo-Addo summons US ambassador over 'shithole'...bullet
9 2018 SONA Nana Addo delivers State of the Nation Address...bullet
10 Sack corrupt police officer Sack corrupt police officerbullet

Politics