Percival Kofi Akpaloo has expressed a strong detest against borrowing of money by government for the purchase of Cocoa.
He told www.leakynews.net that he will never borrow money to buy cocoa if he becomes President of Ghana.
His reasons are that, Ghana has much money sitting in the coffers of Bank of Ghana and that high interest on the loans comes with a great financial burden.
The political leader of the Liberal Party of Ghana (LPG) believes that Ghana has much money and for that reason there is no sense in bypassing Bank of Ghana to borrow from other countries.
“I will not borrow money to buy cocoa because prior to 1992 constitution, we were not borrowing to buy cocoa. Why should we borrow and suffer high charges on interest”, Kofi Akpaloo stated.
If elected as the President of Ghana, he promised to tap from BOG and invest the money in the cocoa industry.
“Our dependence on foreign currency especially the dollars is the reason why Ghana is suffering”.
Source:leakynews