Ghana’s public purse missing under Akufo-Addo – Amaliba

The Director of Conflict Resolution for the opposition National Democratic Congress (NDC), Abraham Amaliba, has bemoaned the haphazard utilisation of the public funds which he says has worsened the country’s debt to GDP.

He says the President’s luxurious lifestyle coupled with his persistent defence for persons involved in corruption in his administration, have abjectly depleted the public purse.

Despite swearing to protect the State’s coffers, the former Director of Legal Affairs for the NDC says there are series of examples to show how President Akufo-Addo has gone against his own oath in both words and deeds.

Speaking on the state of Ghana’s current debt stock on TV3’s NewDay Friday, July 26, 2024, Mr. Amaliba noted that there were many examples to show how the President has protected people found corrupt in his administration, citing Cecilia Dapaah’s case as the latest amongst the lot.

He was listing what he described as a “quadruple whammy” that has hit the country and brought it to its current state, naming President Akufo-Addo as the first one.

“Nana Addo Dankwa Akufo-Addo. This is a man who said I see no corruption, I hear no corruption in his government and there are plethora of examples to show how he [protected] appointees of his government who were found to be corrupt.

“The latest one which has to do with the Sanitation Minister where money was stacked in her bedroom and up to date, she can’t explain how that money came about. Didn’t he ask his Attorney-General to write a piece and clear her?” he quizzed.

He continued that “at a time when this country was on its knees, this man will chatter a luxurious jet and fly all over the country and even one of them was to go and watch a football match –Tottenham Hotspur and some team. How is that inuring to our benefit Mr. President? Now the public purse is even missing under his reign, he is no more protecting it.”

Dr. Mohammed Amin Adam, the Minister of Finance, announced that government’s debt stock has reached GH¢742.0 billion (US$50.9 billion) as of the end of June 2024.

The sum, according to the Minister, was equivalent to 70.6 per cent the country’s Gross Domestic Product (GDP).

The depreciation of the cedi, the Minister noted, has contributed to a 22 per cent rise of the debt, as well as creditors’ disbursements.

 

“This indicates an increase of 22.0 per cent due to the effect of the cedi depreciation and the continuous disbursements from creditors,“ he indicated whilst speaking in Parliament during the presentation of the 2024 mid-year budget review Tuesday, July 23, 2024.

Dr. Amin Adam disclosed further that GH¢452.0 billion constituting 60.9 per cent out of the total debt was external, with the remaining GH¢290.0 billion being domestic debt, accounting for 39.1 per cent of the total.

“As a percentage of GDP, external and domestic debt represented 43.0 percent and 27.6 percent, respectively,” he said.

 

Source:onuaonline.com