“If You Borrow, Find A Way To Pay”- Seth Terkper advises Govt
“Also, bringing taxes like e-levy into the system to help us pay our debts is not wrong but the structure is what you should look at. We need to come to a point that in moving forward in our country we have to be transparent”
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Former Finance Minister, Seth Terkper has advised the government to always find ways and means of paying off debts after borrowing.
Speaking at a media dialogue themed ‘Ghana’s IMF programme’ organized by PFMTAX AFRICA NETWORK, he noted that Ghana is on a slippery path as a country if we continue to use the primary balance as a means to determine our deficit.
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According to him, one of the main reasons why the country keeps facing financial crisis and keeps borrowing is because Ghana does not pay back her debts.
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“If you borrow, find a way to pay. It is very important that we do this. We also have to set up a debt management fund if we really want to stop borrowing and also take arrears seriously as a nation” he emphasized.
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He added that if we really want to stop borrowing or even pay off debts immediately as a country, we need to cut down on our expenditure.
“Also, bringing taxes like e-levy into the system to help us pay our debts is not wrong but the structure is what you should look at. We need to come to a point that in moving forward in our country we have to be transparent” he stated.
The media dialogue centered on Ghana’s fiscal situation and the country’s IMF programme.
Source:leakynews
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