Ghana’s current situation worse than days under HIPC – Kwesi Pratt
Kwesi Pratt Jr., editor-in-chief of the Insight newspaper, is unhappy in the Akufo Addo/Bawumia administration because he thinks they have failed to improve Ghana.
Speaking on Peace FM’s “Kokrokoo,” Mr. Pratt blamed the current state of Ghana on the previous administration’s poor choices.
Mr. Pratt expressed worries about the government’s poor handling of the economy, saying, “Our brother Ken Ofori-Atta went to Parliament. I didn’t tell him to go to Parliament because I wasn’t there when he left. I did not write the numbers he gave to Parliament. His own figures were used. When he arrived, he said that because of COVID, “we gained funds and received GHC 19 billion for COVID-related charges, of which 12 billion were used to directly handle the COVID.”
He continued, “After spending 12 billion out of the 19 billion, what did you utilize the 7 billion for?” was the question put to Ken Ofori-Atta. he said, “They did use it for other areas. So, if we get 19 billion for COVID and spend 12 billion to remain 7 billion, how does COVID become a problem to you. It means you even had benefits from the COVID”.
He went on; “The overall amount spent by the government over the past two years is close to $300 billion. The COVID budget for the time period is less than 10% of total government spending. Therefore, COVID does not explain anything in light of our current circumstances.”
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Ghana’s “present predicament is worse than the HIPC situation,” according to Mr. Pratt.
“Go and check your figures on HIPC. The time we were going to HIPC, we were spending 67% of total export revenue on debt servicing. That was HIPC. Today, what is the total national income that is bigger than export revenue? IFS has revealed that, when you take our total national revenue including our royalties, taxes and so forth, 128 percent are spent on public sector emoluments and debt servicing,” he explained