The Minority in Parliament has expressed concern about the government’s latest move regarding the ongoing financial meltdown.
This comes after the Finance Minister, Ken Ofori Atta announced that Ghana is embarking on a domestic debt exchange program to ensure that debt levels are brought to sustainable levels.
In a press conference, the Minority Leader Haruna Iddrissu stayed that, the debt exchange program will not be a panacea to the current economic mishaps.
Minority Leader, Haruna Idrissu insists that this development joined with the lack of convincing proposals does not inspire confidence in the NPP administration.
He adds that the 2023 Budget Statement is filled with needless taxation which does not augur well for Ghanaians.
“The economic situation in Ghana is so bad that currently, we are ranked side by side by a country like Sri Lanka which is concerned about the worst performing economy in the world with evidence of default even in the payment in their debt
Our public debt today hovers around 500 billion Ghana cedis,” He said.
In a related development, Former President, John Dramani Mahama shared his thoughts on the country’s debt restructuring and predicted tougher times for the private sector.
Mr. Mahama blamed the government for reckless spending and mismanagement of the economy which has called for the implementation of the debt restructuring programme.
