17 May 2017

Ghana: Policy Summit Ends in Accra

press release

The Senior Minister, Mr Yaw Osafo-Marfo, has singled out Ghana's debt as one major problem facing the country.

Mr Osafo-Marfo explained that the huge debt hanging on the nation's neck was as a result of mismanagement of some the State-owned Enterprise such as the Volta River Authority and the Electricity Company of Ghana and attributed "pricing" as the cause of the debt, adding that there would be more crises uif a way was not found for these Enterprises to recover.

Mr Yaw Osafo-Marfo, who was delivering his closing remarks at the just-ended National Policy Summit in Accra, yesterday, described the 24 billion cedi debt owed by the country as disturbing saying different options including increased revenue generation were being considered to pay off the debt.

According to him, the current administration was determined to carry out all promises made and to ensure that there was total growth in the economy hence the much talked about growth in the "Asempa budget".

The Finance Minister, Mr. Ken Ofori Atta, in an address, said he had advised government not to borrow any longer until fiscal discipline was restored.

Source: ISD (Nana Ama Bonnah &Faith Junko Edison)

Ghana

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