Flagbearer of the Convention People’s Party (CPP), Mr. Ivor Greenstreet, says government under the CPP will not borrow money from international development organisations for the economic recovery of the country.
He opines that his administration, in trying to restore faith in government, will take that path of internal initiatives in the quest to generate enough revenue for the re-establishment of the economy from the ravaging effects of Covid-19.
“We will not even start new projects but concentrate on completing existing projects. The scale of our debt crises is monumental and we will begin to face it next year” he added.
Mr. Ivor Greenstreet was speaking during a Joy News’ and IMANI Africa’s “Minority Political Parties Debate” on Thursday, October 15, 2020.
According to the CPP Presidential candidate, debt accumulation for what he refers to as ‘temporary benefits’ through borrowing from external sources is outrageous.
“There are areas where we can tackle remittances for foreign companies. We can change the laws with regards to how much we earn from our resources, and those are areas we can look to generate more money internally” he noted.
Mr. Ivor Greenstreet further explained that for the economy to recover from its debt of GH¢230 billion, the CPP will engage in a detailed plan that sees to it that adverse effects in other sectors are alleviated.
“We can also have an intentional industrial policy, we can mobilise internal resources, we can control capital influence, we can earn more from our natural resources and we can be far more efficient in our own government practices” he added.