Our sovereignty must tally with our ability to thrive on our own – Seth Terkper

Seth Terkper Minister Of Finance Former Minister of Finance, Seth Terkper

Mon, 24 Jan 2022 Source: www.ghanaweb.com

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Former Minister of Finance, Seth Terkper has said government’s claims that Ghana is a sovereign country must tally with its ability to thrive on its own.

Speaking on JoyNews’ News File, Seth Terkper said if Ghana was truly a sovereign country, government must be able to finance all of it programmes without going to any external body like the International Monetary Fund (IMF).

He hinted that by going to the IMF, government would no longer have the sovereign right to implement programmes it plans.

“The keyword there is sovereign rights, which we’re also exercising in not going to the IMF. Yes, you have sovereign rights, okay, but you’re not able to finance your budget. So, what is that sovereign right? Now you have your sovereign rights to do education. You have your sovereign rights to do all your government programmes. But are you able you able to finance it yourself?” Terkper said.

The former finance minister also said recent negative outward looking assessments by Blomberg and Fitch Ratings was an indication that Ghana’s economy was not in good shape.

According to him, the economy might collapse should government fail to take the assessments by Blomberg and Fitch seriously.

He said government must take these valuations very serious and put in measures to help revive Ghana’s collapsing economy adding that should unsustainable borrowing by government continue, the economy would be in serious trouble.

“We’re gradually going, and we have gone HIPC before. So HIPC is a good example for us. That is if your borrowing becomes unsustainable,” he cautioned

Source: www.ghanaweb.com
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