Hon Ken Ofori-Atta, assumed office as Ghana’s Finance Minister on January 27, 2017. He brings to the Ministry over 30 years’ experience in Ghanaian and international financial sector. He has being challenged by a personnel that Attah gets richer-Ghana gets poorer
Ace Ghanaian broadcaster Kwasi Kyei Darkwah aka KKD is upset after discovering that a company owned by Ghana’s finance minister makes money from international loans Ghana secures.
Sharing his disappointment on GTV in a video that has gone viral, KKD said he is heartbroken as he cried out that Ken Ofori-Atta gets richer when Ghana gets poorer. According to KKD, is unacceptable for the Finance Minister’s company to benefit from loans Ghana secures.
I read a report yesterday that broke my heart. I saw how Ghana owes. I also found that apparently, the Minister of Finance’s company or former company is a transaction advisor to the monies we borrow. So, as Ghana gets poorer, the Minister of Finance’s company or former company gets richer,” he said.
Is this what we want to continue in this country?”
KKD lamented and added that “do we want to elect people into office, give them their pay and their pegs and allow them and their friends and their companies or their former companies to be the very beneficiaries of the woes of our country?”
However, Ghana’s public debt stock shot up to GH¢391.9 billion at the end of March 2022. According to data shared by the BoG, Ghana’s public debt stock at the end of March 2022 rose by some GH¢40.
1 billion to GH¢391.9 billion, data from the Bank of Ghana’s May 2022 Summary of Economic and Financial Data showed.
This, in terms of the country’s Gross Domestic Product (GDP), is estimated at 78 per cent, which is slightly lower than the 80.1 percent earlier recorded in December 2021.
According to the figures, the increase in the debt stock was largely attributed to the exchange rate instability and some borrowings from the domestic market.