Former Finance Minister Replies Bawumia
Former Finance Minister Seth Terkper has reacted to Vice President Dr. Mahamudu Bawumia’s national address on Thursday, blaming external reasons for the country’s current situation.
After a long silence on Ghana’s poor economic performance, the Vice President finally spoke up on Thursday, April 7, 2022, at the National TESCON Training and Orientation Conference held at the Pentecost Conference Centre in Millennium City, Kasoa Yesukrom in the Central Region, pointing out several factors.
He linked the COVID-19 pandemic and the banking sector clean-up causing an increase in Ghana’s debt stock.
“Ghana’s debt to GDP grew by 17.6 percentage points of GDP between 2019 and 2021. It should be noted that this figure does not include the 15.1 billion in exceptional items. The financial sector comes first, followed by energy and the COVID 19 pandemic. Instead of the current 80 percent, Ghana’s debt-to-GDP ratio would have been at 68 percent.”
Seth Terkper has criticized government leaders, notably Vice President Mahamudu Bawumia, for blaming the Russia-Ukraine War for Ghana’s current economic difficulties.
Despite the fact that Russia’s invasion of Ukraine only began in February, the ex-finance minister claims that the conflict is to blame for all of Ghana’s current hardships, which are the product of the government’s four-year failure.
Story: Milovan
