Government will borrow more - Bawumia reveals

Government will borrow more - Bawumia reveals

- Government has revealed plans of engaging more partners for aids and grants

- Dr Bawumia therefore assures that these borrowed funds will be managed responsibly

- Click here for the latest stories in Ghana

Vice president Mahamudu Bawumia has revealed that government is not relaxing on its borrowing spree.

Government will borrow more - Bawumia reveals

Government will borrow more - Bawumia reveals

READ ALSO: India donates 1 million dollars to Ghana for renovation of Flagstaff House

Despite Ghana's debt stock hitting over 100 billion cedis, the vice president maintains that borrowing for more funds will help transform Ghana's economy.

According to Bawumia, his administration is doing everything possible to ensure that all funds borrowed will be put to good use and thus managed responsibly.

“A lot of people misunderstand when we say we are going to be responsible, it doesn’t mean that we are not going to borrow money, it only means that we are going to borrow responsibly and not recklessly,” he revealed at the just ended Ghana National Policy Summit.

READ ALSO: India donates 1 million dollars to Ghana for renovation of Flagstaff House

So far, Ghana's total public debt stock has risen sharply from 127.8 billion cedis to 137.2 billion cedis within the span of three months - a development which is bound to throw the economy into HIPC (Highly Indebted and Poor Country) should debt levels rise to 70 percent of GDP.

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Source: Yen.com.gh

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