Buem MP Kofi Adams says Ghana’s economic problems could have been avoided had government put Covid -19 funds to appropriate use.
According to him, revenue generated from Covid-19 could have been used to stabilise the economy.
“Clearly, the report shows in a number of areas that covid, as has been reported to be the reason for why we find ourselves in this mess, was not because…the disease that came around but because of how our government handled the money that came into his hand during the covid,” he said.
Speaking on Newsfile on Saturday, he explained that when the country was hit by the virus Bank of Ghana, World Bank and other stakeholders donated money which was more than enough to cover the health expenses.
“We spent only about 11 billion in covid related and we got about 10 billion to support other areas. If we had done it well today we should be smiling.
He added that “Clearly, per the information, we have received now Covid indeed brought us even more money."
The legislator questioned why other countries were not in a similar economic crisis as Ghana was since the government blamed the woes on the impact of the disease on the economy.
“Why do you have other countries that suffered covid that are not facing the think of a situation that we find ourselves in?” he quizzed.
Mr Adams further raised concern about why the government wanted to include bondholders' monies in the debt restructuring when there were other revenue-generating avenues.
“Why are we today unable to honour bonds from persons including even ESLA and Daakye bonds which is linked to a revenue mobilisation of a percentage of VAT that we continue to collect - and oil, fuel, diesel, petrol, LPG that we continue to buy every day these are sources linked to this ESLA, PLC bonds and Daakye bonds,” he bemoaned.
Latest Stories
-
ECG staff walkout during Ashanti Regional Minister’s speech at May Day event
8 mins -
Seventy percent of SMEs productivity lost to power crises in Central Region
17 mins -
We commend Bawumia for waking others up to come home and develop – Savannah NPP chair
21 mins -
SML-GRA contract – Legal Practitioner counters KPMG findings on parliamentary ratification
27 mins -
Do something about dumsor now – TUC tells Akufo-Addo at May Day event
30 mins -
Viewing Economics from a female lens: Legacy of Ghana’s first female Professor of Econs
32 mins -
Vaccines are safe, get your children immunized against killer diseases – Ghana Health Service
35 mins -
Glovo, five other multinational brands, and why they left Ghana
42 mins -
Narcotics Control Commission seizes 20.5kg of cannabis
53 mins -
One suspect arrested over killing of military officer at Kasoa
59 mins -
Maritime Security Threats: Global collaboration, commitment needed to overcome risks – Akufo-Addo
2 hours -
AWUSCO develops 6-year Scientific Strategic Plan towards digital transformation
2 hours -
May Day: I’m prepared to work with you again to meet Ghana’s needs – Mahama assures workers
2 hours -
Build digital skills to enhance employability – KNUST Vice-Chancellor urges students
2 hours -
5 simple steps to take when you’re completely emotionally exhausted so you can get your fire back
3 hours