Finance Minister and MP for Ajumako/Enyan/Esiam, Dr. Cassiel Ato Forson has criticised the New Patriotic Party (NPP) for what he says is their inability to service Eurobonds and debts.
The Minister says the NPP is the only party since the inception of the fourth republic with a record to default in servicing its debt and payment of domestic bonds to bondholders.
Speaking in an exclusive interview with Alfred Ocansey aired on March 14, Dr. Ato Forson insisted that the party cannot be applauded for the drop in debts because this was due to their inability to pay matured bonds to bondholders.
“For the first time, no government in this Fourth Republic has defaulted in servicing of Eurobonds before. Unfortunately, the NPP has that record, the record of default.
“In fact, in the history of Ghana, no government has defaulted in payment of domestic bonds before. NPP has once again come out as the ones to bring out such a bad record and so if they are saying that because we gave haircuts and we defaulted in the servicing of our debts and so the debt has dropped and that we should clap, that’s unfortunate,” he stated.
The Finance Minister noted that the country currently has a mounting debt of $8.7 billion to service due to the poor management of the economy by the previous NP administration.
“I did not hear them argue against the fact that the Republic of Ghana does not have debt worth $8.7 billion to service,” he added.
Source: 3news.com