Photo source: Africa news
Let’s have a look at what happened after the elections of Ghana, 2020. This episode of Business Africa reveals it all.
According to sources, there is a statement that has got to be explained away by the government’s unnecessary spending, which suggests that they’re attracting debt also as a result of that. So clearly speaking, the debt situation is going to grow. I’m sure if the government had its way, it might still borrow more. Already it is borrowing a lot. It’s borrowed on the brink of 100 and fifty billion Ghana cedis (26 billion dollars) in three years. That’s a lot of money. And the only reason why we will sustain our debt is once we start doing things sensibly. As I said, eight per cent out of the nearly 15, 16 per cent fiscal deficit is caused by unnecessary expenditure, which can’t be salvaged by any debt sustainability plan. Because there’s no debt sustainability plan.”
According to sources, there is a massive boost in revenue for operators of Point of sale devices in Nigeria and Uganda inches closer to begin oil pipeline construction, as it validates an environmental impact assessment.
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