NDC piles on huge unprecedented debts, but nothing to show for it

One of the sources of government is borrowing (domestic & external). Since independence to the year 2001, Ghana’s overall public debt stock was $7.5billion. This is what Jerry Rawlings’ NDC left for the Kufuor government.


In the year 2009, the total National Debt left by Kufour’s NPP administration was GHC9.6billion and this amount included all the debts from 1957. Apart from many social interventions – NHIS, free maternal care, NYEP etc left for the NDC government in 2009, the Kufuor government bequeathed to the nation oil in commercial quantities, HIPC funds, and $547 million from the Millennium Challenge Accounts.


However, for the past 4 years under the Mills/Mahama NDC government, Ghana’s total public debt has jumped from GHC9.6bn to GH¢33.5 billion, a difference of GHC23.9billion or 248%. This amount excludes the $3billion Chinese loan in the pipeline.


From the above, it is clear that each Ghanaian, adult or baby, now owes GH¢1,361.79 (13.6m old cedis)


The figures were contained in a report of the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG).


Now looking at the State of the Nation, and for that matter the economy, can any NDC sympathizer justify this excessive borrowing by the government?


Today, our roads are terrible to ply on; our energy is not sustainable; and as for water, the least said about it, the better. We can’t talk about our educational system; we can’t talk about the Tema Oil Refinery. Unemployment situation is worse because the present government has no knowledge about job creation. They only create jobs through propaganda and on the radio.


If you listen to John Mahama’s State of the Nation Address, it’s more than an NDC manifesto presentation. The address is full of “We will”; “We shall”; “My government intends” etc. Mahama seems confused with State of the Nation Address and party manifesto or electoral promises.


For the past 4 years, I have been hearing the Eastern Corridor, Western Corridor, SADA, free school uniforms, expansion of school feeding programs to all basic schools etc. What is the execution period for the above projects and programs, if I may ask? When will these projects disappear from presidential speeches? The only thing John Mahama missed this time around is the construction of 30,000 housing units to the security officers. He couldn’t talk about it because of the humiliation from the abortive STX Korea deal.


They can’t even complete Suhum-Apadwa portion of the Accra-Kumasi, yet they are talking about construction of railway lines. They keep increasing fuel prices without a corresponding creation of job opportunities, yet they talk about putting people first and reducing poverty.


The NDC can find money to construct a new statue for Kwame Nkrumah and celebrate his birthday. They can find money to build $20m party headquarters. They can find GHC51.2m to pay fraudulent judgement debt to Woyome. They can find money to pay John Mahama 120 million old cedis every month. They can find money to buy laptops, and saloon cars to young girls to vote for them.


But the same John Mahama will complain about public sector wages. Why do people support this party at all?


For me, the Supreme Court could do mother Ghana good if the Judges do the right thing by declaring Akufo-Addo the winner of the 2012 presidential election.


Until then, Ghana is doomed!
Katakyie Kwame Opoku Agyemang, Enfield, London.

(Free SHS Ambassador) Official blog: (www.katakyie.com) katakyienpp@yahoo.co.uk 07577626433

A native of Asante Bekwai-Asakyiri


“Vision, coupled with persistency, results in true success”




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