A Political lecturer at the University of Ghana, Professor Ransford Gyampo has lamented that, the way Ghana handles it’s money even in times of economic crises is very hopeless.
In a post shared on his official Facebook page on Tuesday, 30th August 2022, he wrote;
“The handling of our money even in times of crisis is so hopeless.”
Prof Gyampo buttressed his point by saying that, Ghana got a loan of USD750m but received only USD713m. Then we want to use USD140m for games? We need the priceless games but can’t we solve basic needs and demands first? He quizzed.
Background
As part of the agreement of the Afrexim Cocoa loan, Bank of Ghana has recieved it’s first trenche of $750 million.
A release by John Ampatuah Kumah, the Deputy Minister of Finance says that In this particular transaction, an amount of USD37.0 million from the USD750millon has been set-aside for debt service obligations. This leaving USD713m as Prof Gyampo said.
All African Games was bidded by Ghana and won some two years ago. Although Ghana is in economic crisis but its seven months to the event and hence the country needs USD140m to host the tournament.
Reactions
Some users said that Prof Gyampo’s analysis is bias because the all African games were bidded and won two years ago. Ghana can’t pull out since it’s just few months to the events.
“What is wrong with our leaders?..Do they really care about citizens? Do they really think through fiscal and monetary policies before adopting them?” A User asked.
Others lamented that, Ghana should let go of the event since the economic crisis is daring enough.
“Sorry analysis. How can you say or in the least even think hosting All African Games should be put on ice . Prof I have been doubting your analytical prowess for sometime now more so when you almost sample comments people have made copiously on you page without a second look.” A user wrote.
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