Ghana’s former Finance Minister, Seth Terkper is asking government to come clean on the use of funds generated for the fight against Covid-19.

This according to Mr. Terkper is because, despite having enough resources to finance the many adverse impacts associated with the pandemic, government continues to borrow under the guise of using it for Covid-19.

“Government is using funds from Covid-19 to finance something and it is not Covid-19.

"Government has to come clean and tell Ghanaians what it is financing with Covid-19 funds. We are not against the idea of borrowing to finance debts, but the issue is that don’t use Covid-19 as a cover-up or an excuse for it,” he said.

His assertion follows the GH¢10 billion support requested by the Government of Ghana from the Central Bank to finance its budget deficit as a result of the pandemic.

But Mr. Terkper believes funds needed to fully fight the pandemic has been exceeded through the $1 billion International Monetary Fund loan, $219 million from the Stabilisation Fund, the World Bank loan as well as the funds accrued from the National Covid-19 Trust Fund.

The former Finance Minister, in a media interaction on Friday, described the continuous borrowing in the name of fighting Covid-19 pandemic as worrying.

He urged the Finance Minister Ken Ofori-Atta who is yet to present the country's mid-year budget and government; to come clean since he suspects the funds are being used to settle existing debts.

The Finance Minister, Ken Ofori-Atta, in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921), is scheduled to present the mid-year budget review on Thursday, July 23, 2020.

The Minister is expected to touch on the progress made so far by the government on the fight against the Covid-19 pandemic on the back of approved loans and drawdowns from State funds by Parliament.