Samuel Koku Anyidoho and Seth Terkper
Former Minister for Finance under the erstwhile National Democratic Congress government, Seth Terkper, has outlined some things his party would do differently if it were to be in power.
In a Twitter engagement with former Deputy General Secretary of the NDC, Samuel Koku Anyidoho, the former minister said an NDC government, among other things, would adopt strategic measures to ensure debt repayment.
"If you borrow, learn to repay (Sinking Fund & debt/ratings wahala); ii) crisis are inevitable, prepare, w/ fields (Stabex/Contingency Fund, my crisis is bigger than yours is fallacy),' he wrote.
In addition, Seth Terkper said an NDC government would reduce expenditures to cover the losses in the face of failing tax revenues.
"If tax revenue is stagnant, reduce expenditure, however lofyvor (SIC) well-meaning (recall E-schools in 2016?). Can't borrow perpetually to finance them. Be targeted when you receive $6b (unprecedented, not even HIPC flows) for a crisis like COVID, topping 3 oil fields," Mr Terkper wrote.
Over the past weeks, Ghana has been plunged into a severe economic crisis characterised by high inflation leading to an unbearable cost of living.
The opposition, amidst the hardship, accuses the government of failing to act decisively in dealing with the situation.
Former President John Dramani Mahama, on Thursday, October 27, 2022, delivered a public lecture where he addressed Ghana's economic challenges and offered some solutions to the government.
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