Audio By Carbonatix
The Communication Officer of the NDC, Sammy Gyamfi says every Ghanaian would have to pay ¢10,000 to settle the debt incurred by the country in the Akufo-Addo-led administration.
At the party's Weekly Press Briefing on Wednesday, he urged the electorates to "ignore government's deceptive semantics about Ghana's catastrophic debt position."
According to him, the NDC would reveal all the lies of the Akufo-Addo administration and set the record straight.
Mr Gyamfi noted that the current never-ending borrowing by government has worsened the national debt per person ratio.
"Per our current total public debt of ¢258.8 billion as at June 2020...every Ghanaian in Ghana today is indebted to the tune of about ¢10,000," he stated.
He explained that the unprecedented borrowing by the Akufo-Addo-led government has never been recorded in the history of Ghana.
"President Akufo-Addo has added more debt; a whopping ¢138 billion and still counting to Ghana's public debt in only three and half years, far more than any government has done in the history of this country, and far more than all successive governments since independence," Mr Gyamfi said.
Mr Gyamfi said even with a Heavily Indebted Poor Country (HIPC) status in 2001, the debt-to-GDP ratio of 61% cannot be compared to the current debt ratio held by the country.
"Indeed, our current debt position is worse than where we were when we joined the HIPC debt relief program in the year 2001, at which time our debt to GDP ratio stood at 61%.
"As a matter of fact, our debt position this year is the worst ever in the history of our Fourth republican democracy," he further added.
According to him, the government has been unable to show "any significant or self-financing projects that their unprecedented borrowings have been used for."
Latest Stories
-
Legal lifeline for Ghanaians in America as lawyers association, Embassy move to tackle diaspora challenges
22 minutes -
Photos: First Atlantic Bank PLC officially listed on Ghana Stock Exchange
43 minutes -
Energy minister assures stable power as Ghana hits peak demand in December
2 hours -
Miguel Ribeiro Fiifi Brandful
2 hours -
Adom TV’s ‘Nine Lessons and Carols’ electrifies National Theatre in a festive extravaganza
2 hours -
Mahama orders $78m payment to Justmoh to resume Agona–Nkwanta road works
2 hours -
Christmas rush deepens traffic woes in Accra Central
2 hours -
Three arrested after viral video shows toddler being fed alcohol
3 hours -
Survivors ‘nervous and sceptical’ about release of remaining Epstein files
3 hours -
‘No room for egos’: Sam Jonah issues bold challenge to UCC graduates and Ghana’s future leaders
4 hours -
Eggs-traordinary success: Multimedia Group’s Christmas Egg Market sells out in record time as patrons demand extension
5 hours -
Galamsey crackdown: IMANI boss challenges Mahama to purge NDC of mining interests
5 hours -
Fela set to become first African to receive Grammy Lifetime Achievement Award
6 hours -
636 new ‘Blue Water Guards’ deployed to frontlines of anti-galamsey war
6 hours -
Ghana to launch E-visa by Q1 2026
7 hours
