![Ofori-Atta incurred huge chunk of the GH¢742bn debt stock, he must account for it – Jantuah](https://3news.com/wp-content/uploads/2024/07/debt-247x300.jpg)
A leading member of the Convention People’s Party (CPP), Mr Kwame Jantuah has blamed former Finance Finance Minister Ken Ofori-Atta for incurring a large portion of the GHS742 billion public debt stock with the borrowings that he did when in office.
To him, Mr Ofori-Atta should be made to explain how the money borrowed was utilized.
“Ofori-Atta is no more the Finance Minister, he is available now so the media should interview him on the debt.
“They have to explain how the borrowing benefited us, what have the loans been used for? I am not saying they haven’t done anything, they could have done more than what they have done,” Jantuah said on the Big Issue on TV3 Friday, July 27 while commenting on Ghana’s public stock which stood at GH¢742 billion, representing US$50.9 billion as of June 2024, according to the Finance Minister Dr Mohammed Amin Adam.
![width=385](https://3news.com/wp-content/uploads/2024/07/debt-247x300.jpg)
Dr Amin Adam further assured Ghanaians that the government is living within its budget.
He also said that they have exceeded the midyear revenue target by 0.2 percent by end-June, 2024.
“In effect, Mr. Speaker, we are living within our means. Indeed, consistent with our programme with the IMF, we are on course to achieving a primary surplus of 0.5 percent of GDP by end of the year.
“We have successfully concluded the second review of our Extended Credit Facility with the International Monetary Fund (IMF) which led to the disbursement of the 3rd tranche of 360 million US Dollars, bringing total disbursement to about US$1.6 billion; We have completed the Debt Restructuring programme with the Official Creditor Committee (OCC), covering US$5.1 billion dollars resulting in approximately 2.8 billion US Dollars of debt relief. This means that we will not service our debt to our official creditors from 2023 to 2026;
“We have embarked on major reforms of State Owned Enterprises (SOEs), especially those in the Energy and Cocoa sectors, to be fiscally prudent and reduce their risk on the budget,” he said.
The post Ofori-Atta incurred huge chunk of the GH¢742bn debt stock, he must account for it – Jantuah first appeared on 3News.
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