Former Deputy Minister of Energy John Jinapor has accused the Akufo-Addo-led government of using the COVID-19 pandemic as an excuse to drain the country’s reserves and called on government to prioritise expenditures in order to protect the public purse.
This follows the recent announcement by Finance Minister, Ken Ofori that the Central Bank had decided to grant government a GHS10 billion.
Mr Ofori-Atta on Friday, 29th May 2020 in a statement presented to Parliament confirmed the BoG’s decision to lend GHS10 billion to government with a 2 year moratorium for 10 years.
Governor of the Central Bank had earlier confirmed before the appearance of Mr Ofori-Atta in parliament that the first tranch totalling GHS5.5 billion at the rate of 14.5 percent had been made to government.
However, the former Deputy Minister has decribed the action by the Central bank as “illegal and a clear violation” of the Bank of Ghana (BOG) Act.
In a write up by the former Deputy Minister, Mr Jinapor noted that: “the Akuffo-Addo led Government has certainly run out of ideas and hiding behind the COVID-19 pandemic to deplete our reserves including the Petroleum Funds.”
He further called on Parliament to “ensure that the Executive Arm of Government does not engage in a reckless management of our financials as we approach the 2020 elections.”
According to Mr Jinapor, “Rather than engaging in such wasteful and frivolous expenditures, the Akufo Addo/Bawumia Economic Management Team must prioritise expenditure in order to protect the national purse.
Current statistics reveal the country’s debt as a percentage of GDP is in excess of 60% with the IMF projecting end of year 2020 Debt to GDP at about 67%.
Source: Class FM
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This crop of ndc are a disgrace to the founders of the party and there is no doubt none of the founders is talking! What are they going to say when uncul*tured and unco*uth babies with sharp teeth and their greedy bastard leaders have hijacked once vibrant party to use it as a wealth creation machine they have nothing to say but just look at their beloved party go to the deepest depth of the valley. I don't know when ndc can be recovered! When ***barred word*** get confused wisdom suffer ! Food for thought !
O Jinapoooor why are you always spewing garbage. This is what you guys did when you were in power so you think they are doing same.
Just like you and your c0rrupt Airbus Mahama used Dumsor to drain our coffers when you were in power... You went into use11ess power agreements. Ev!l NDC party.. leave us alone. Your ex-gratia payments and double salaries drained our coffers before you guys left power..
Give us specifics of how government is draining the coffers. Typical NDC personality with propaganda. The guy knows nothing about economics. Yet, he has been jumping from one station to another with noise as usual. It is only in NDC that such characters are hailed as heroes.