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
-
Tech titan ordered to pay ex-wife $644m in divorce settlement
2 seconds -
They became best friends – then discovered they were brother and sister
30 seconds -
Experts challenge culture of silence among men on mental health
3 minutes -
How is it a crime if US$279m is allocated to Gold Board? – Sammy Gyamfi questions Abena Osei-Asare
10 minutes -
UniMAC Debate champions meet Vice-Chancellor ahead of commonwealth debate competition in sydney
15 minutes -
UK retail sales get surprise boost from hot weather and World Cup
16 minutes -
Star US Supreme Court lawyer Goldstein to be sentenced for tax crimes
16 minutes -
Inconvenient Truth: When the Elephants Forget the Grass
22 minutes -
No rift with Agriculture Ministry over funds release — Ato Forson
25 minutes -
Culture before internal communication plan: Why Africa needs the ACCRA framework
27 minutes -
Samsung introduces 2 new products into Ghanaian market
41 minutes -
Spend to complete abandoned projects – Abena Osei-Asare tells government
53 minutes -
Daily Insight for CEOs: Expanding influence through partnerships
58 minutes -
US says it will use frozen Iranian assets to fund damage to ships as strikes continue
1 hour -
Don’t just spend, invest in areas that transform lives — Abena Osei Asare tells government
1 hour