Pulse.com.gh logo
Go


Economy Ghana to go HIPC in 2019 - Minority

The Minority disclosed this at a Breakfast meeting on Monday with stakeholders ahead of the 2018 budget and economic policy in Accra

  • Published:

The Minority in parliament has said that Ghana may be a heavily-indebted poor country by 2019 following what it describes as the careless management of the economy by the government.

Speaking at a Breakfast meeting on Monday with stakeholders ahead of the 2018 budget and economic policy in Accra, Minority Spokesperson on Finance, Cassiel Ato Forson, said: “Unfortunately, the state will be ending the year with s Debt-to-GDP ratio of approximately 73.6 percent.”

“When the Energy Bond and the UT/Capital Bank bond is added, the Debt-to-GDP will rise to 76.8 percent from 72.5 [inherited from the previous government]. Ghana is heading toward HIPC. Ladies and gentlemen, don’t be surprised if by the end of 2019, we are declared HIPC,” he said.

READ ALSO: 2018 budget will bring hardships similar to 1983 famine - Minority

The Minority MPs further asked Ghanaians to prepare themselves for difficult times ahead as they cast doubts on the government’s budget and economic projections for 2018.

The president, Nana Akufo-Addo has said the 2018 budget will create jobs for the ordinary Ghanaian but the Minority MPs disagree.

“We believe that the 2018 budget won’t create jobs. How can you create jobs when commercial banks are in a big distress? The local banks don’t have the liquidity to lend to the private sector to create jobs.

“Ladies and gentlemen let us be assured that next year there will be severe austerity and hardships equivalent to 1983,” Cassiel Ato Forson said.

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 Illegal Operations Menzgold extends suspension of gold vault market servicesbullet
2 Illegal Operations Menzgold customer threatens to sue over principal...bullet
3 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
4 Ponzi schemes in Ghana These investments are Ponzi schemes in...bullet
5 Kotoka International Airport GACL to move all domestic airlines...bullet
6 How to create a verified PayPal account Learn how to create a...bullet
7 Retrenchment ATL sacks 200 workers, rest of staff not paid...bullet
8 Economy of Ghana Vice President Bawumia says Ghana's...bullet
9 Ghana-Chinese Relations 6 reasons why the StarTimes deal...bullet
10 Salaries In 2018 Here are the dates public workers...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Former Capital Bank staff grills pork for survivalbullet
3 Money Alert Meet Africa's richest womanbullet
4 Support Finance minister buys Kantanka carbullet
5 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
6 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
7 Tech 6 reasons you should buy an iPhone SE instead of any of...bullet
8 Selorm Adadevoh MTN CEO dances Agbadzabullet
9 Plane Crash Starbow suspends operations following plane...bullet
10 Bozoma Saint John 10 quotes from Uber top official,...bullet

Business

X
Advertisement