Celebrated Master of Ceremonies, Kwasi Kyei Darkwah (KKD) is bemused over why certain people in government and their businesses keep making money from Ghana's loans in the name of financial advisory, disclosing that he was heartbroken when he found out about the canker.
According to the media and tourism expert, it is unfathomable and unacceptable for the Finance Minister’s company to benefit from the predicaments of the country citing an advisory role the said company plays in Ghana’s request for loans as the basis for his submission.
“I read a report yesterday that broke my heart. I saw how Ghana owes,” he said on GTV’s Breakfast Show, Wednesday. “I also found that apparently, the Minister of Finance’s company or former company is a transaction advisor to the monies we borrow. So, as Ghana gets poorer, the Minister of Finance’s company or former company gets richer. Is this what we want to continue in this country?”
“Do we want to elect people into office, give them their pay and their pegs and allow them and their friends and their companies or their former companies to be the very beneficiaries of the woes of our country?” he asked.
Ghana’s public debt stock at the end of March 2022 rose by some GH¢40.1 billion to GH¢391.9 billion, data from the Bank of Ghana’s May 2022 Summary of Economic and Financial Data showed.
This, in terms of the country’s Gross Domestic Product (GDP), is estimated at 78 percent, which is slightly lower than the 80.1 percent earlier recorded in December 2021.
According to the figures, the increase in the debt stock was largely attributed to the exchange rate instability and some borrowings from the domestic market.