News

Sports

Business

Entertainment

GhanaWeb TV

Africa

Opinions

Country

Excessive borrowing pushed Ghana to IMF – Spio

This article is closed for comments.

Read Comments Comments (94)

  • SARPONG 9 years ago

    But your Boss President Mahama says he will continue to borrow despite the fact that we use 25% of our budget to service his excessive loans.

    What is Spio on to? Is he laying up a motive to challenge Mahama for the Ndc Pre ...
    read full comment

  • Ackah 9 years ago

    They will start admitting one by one. Spio is one of the few honourable men left in that party. Next!

  • facts 9 years ago

    0
    Yesterday mahama said we are in crises. A. At least the truth is gradually coming out and so arguements shall cease. And today Spio is saying they borrowed too much. Mahama was saying we didn't borrow to eat so it was OK. ...
    read full comment

  • PRINCE KWASI ADADE (OFIE) 9 years ago

    AUTHOR: KOFI-----
    THIS WICKED AND THIEVING NDC GOVT EVEN BUDGETED FOR JUDGEMENT DEBTS PAYMENTS WHEN THEY CAME TO POWER...GHANAIANS SAW THIER THIEVERY AND BAD IDEAS ABOUT GHANA SO THEY QUICKLY REMOVED IT FROM SUBSEQUENT BUDGE ...
    read full comment

  • KB,LONDON 9 years ago

    NDC GOVERNMENT TAKING PERSONAL LOANS IN THE NAME STATE. OTHERWISE, WHERE ARE THE PROJECTS THE LOANS WERE SUPPOSED TO FUND? AKOMF3M OR WHAT?

  • Ritewing 9 years ago

    The Ndc planned to loot the nation's coffers, the first few months they came into government. You are right Prince, they created a cost centre for judgment debts, first in the history of Ghana financial management. A few per ...
    read full comment

  • ogyam 9 years ago

    Yentie obiaa period.

  • DAVI 9 years ago

    OYIWA!WHAT HAVE THE BABIES WITH SHARP TEETH GOT TO SAY,SPIO SHOULD BE READY FOR INSULTS.

  • Gye Nyame 9 years ago

    Hmm.... Interesting comment by Spio considering he is part of team borrowing. I wonder what his boss thinks about the comment though what he said is the truth.

  • Otsibu Darko 9 years ago

    He's being honest and pariotic.

  • SAMO JEWELERY 9 years ago

    Call or whatsapp on 0244717600 for more latest pictures.....samo jewellery deals in yellow n gold rings for engagement n wedding rings...we can design any kind of ring...n our finnish product are just perfect....we are locate ...
    read full comment

  • Mahmoud 9 years ago

    Ghana epitomises much of the best of Africa, but also throws into relief the tragedy of the continent. It has maintained its higher education and has fewer extremes of wealth than elsewhere. But at independence in 1957, Ghana ...
    read full comment

  • Mahmoud 9 years ago

    Kufuor's eight years as President saw economic growth of more than 70 per cent - the first prolonged period since independence when Ghana was not getting poorer

  • KOLA, INSIDE LONDON. 9 years ago

    Spio is actually referring to kufuor the ex president who stole so much from loans that he got caught up with a loan from a salon in UK.

    Under the NPP, Loans were contracted from a salon. This is what Spio is talking about ...
    read full comment

  • SARPONG 9 years ago

    Illiterate fool, do you understand what Spio ? The Ndc government has been in power for six years and borrowed more than $19 billion, illiterate fool, that is what Spio is talking about.

  • KOLA, INSIDE LONDON. 9 years ago

    You chartered illiterate who is prone to a rabid cognitive illiteracy can never be smart enough to see beyond what Spio said about borrowings over the years.

  • DAVI 9 years ago

    THE NDC CAN NEVER DEVELOP GHANA WITH PROPAGANDA AND LIES.

  • Andrews 9 years ago

    Why are these NDCs so shortsighted. How much did Kufour borrowed and how much has Mahama borrowed. What about the hardship levels of the two regimes. These are some of the perimeters that can be used to judge a Govt. How tran ...
    read full comment

  • KOLA, INSIDE LONDON. 9 years ago

    hana’s government is the third most transparent and open in Africa, according to a global ranking on public access to official data.

    The ranking was released on Tuesday, January 20 by World Wide Web Foundation.

    Eighty ...
    read full comment

  • TEE 9 years ago

    MARK MY WORDS PERIOD

  • DUKE 9 years ago

    KOLA THE ILLITERATE U NEED SOME EDUCATION SEE BELOW WHERE THE STOLEN MONIES HAVE GONE




    Twenty Richest People In Ghana For 2013

    1. Ibrahim Mahama -$1.9 billion /Businessman , Brother of the current President of Ghan ...
    read full comment

  • KOLA, INSIDE LONDON. 9 years ago

    This is not from the Forbes you illiterate fool. How could all top 20 richest be men when there are know rich women in Ghana.

  • From Queens City 9 years ago

    Talk sense and don't talk from your stomach Kuffour left office with the country's debt since independent was 9 billion GHS Now 6 years of NDC has more than seventy (70)million GHS but all these money goes individua ...
    read full comment

  • Hamza 9 years ago

    No matter what NDC does, ewes n d ignoramus will kiss their butts? I just switched 2 d shorty, just give him a shot!

  • kwabena 9 years ago

    Nonsense talk

  • princewilly@ymail.com 9 years ago

    A husband and wife had been having a difficult time financially for quite awhile. The wife, who was of course very attractive and who had a healthy sexual appetite, was getting a little restless sitting home all the time. She ...
    read full comment

  • Frank Agyena-Karikari 9 years ago

    Sarpong, you should know better than that. Spio has all along been eyeing the throne too. That is why the Ahwois who also had ambition did not see eye to eye with him. Hahahahahaha.That is also why he had no place in Mills ad ...
    read full comment

  • JSS DUMMIES? 9 years ago

    ?

  • Nyansasem 9 years ago

    There is no way he would make that mistake of challenging Mahama. However, as I have said, ZEO took this appointment to get himself ready for 2020.

    He could not have stayed out of NDC for so long and come back in 2016 or 2 ...
    read full comment

  • profferlio 9 years ago

    Its the past accumulation of kuffour and mills borrowing. Listen to what he said. The man used past borrowing.

  • SARPONG 9 years ago

    He could have used past, centuries ago or even before Jesus was born, the record is there for everybody to see.

    Mahama came to meet a national debt of only 7.5 billion dollars. We now have a debt of 27 billion dollars so ...
    read full comment

  • Yiadom 9 years ago

    It is gratifying to know that at least there is one sensible person among the lot in Mahama's govt. Oh, my country Ghana!

  • joojo 9 years ago

    and which government borrowed- Your own. Tell Mahama to to to hell with his policies of insults and borrowing

  • CK 9 years ago

    Is this not the guy who was hailed as the saviour of NDC? Stop talking and perform?

  • AGYAAKU 9 years ago

    If you have chosen to crticize your brother, you should make sure that your facts are spot on.

  • Osorio 9 years ago

    Dada God bless you

  • CORRUZU CORRUZA 9 years ago

    HUT THE NAIL ON THE HEAD, SPIO, THE COUNTRY BEGAN THE EXCESSIVE BORROWING ONLY SI YEARS AGO. JUST TAKE A LOOK AT HOW MUCH WE OWED SIX YEARS AGO AND HOW MUCH WE OWE TODAY. DO NOT SHARE THE BLAME. WE ALL KNOW WHO GOT US INTO TH ...
    read full comment

  • odikro 9 years ago

    God bless you

  • Paa Nii 9 years ago

    Dr. Garbrah:

    Just tell us what loans from previous Govts we are still paying for in 2015.

    How much from the Nkrumah era? How much from the Military years? How much from the P/NDC years? How much from the NPP years and h ...
    read full comment

  • Blay Miezah 9 years ago

    The total debt stock when Mahama & Co took over the reins of government in 2009 was USD6billions! At the end of 2014, the debt stock had spiralled to USD27billions! Mahama alone added USD21billions to the debt stock. And what ...
    read full comment

  • Booboo. 9 years ago

    At least, this is an honest assessment.

  • Terry 9 years ago

    You borrowed to fund wayome fraud.

    I pity the young ghanaian. The amount of debt legacy we are leaving for them

  • Masati 9 years ago

    Are we heading for another Yentua?

  • asiedu nketia snr 9 years ago

    Anyway, we dey Inside.Kafour Didi.Spio should draw his big boss mahama's attention he may listen.

  • CAO 9 years ago

    ghana

  • Stan Derban 9 years ago

    Is Spio a career politician or a technocrat ? Career politicians have no use in Ghana anymore. They only want to walk the corridors of power in a visionless way. I believe Spio has vision.

  • United Ghana 9 years ago

    He's admitting a fact all Ghanaians already know. Credit to him anyway for his honesty. The next issue is the lack of strategic considerations in borrowing and corruption. Any revelations Spio?

  • Amensco 0244523451 9 years ago

    Quality Toner and Ink refill at AMENSCO TECHNO SERVICES at Abeka-Fadama.
    We also sell and repair Canon and HP Printers and Copiers.
    Call 0244523451
    0270523451

  • TWEAA 9 years ago

    NO, NO, NO, KWAAKYE OFOSU AND FIIFI KWETEY WILL NOT AGREE WITH YOU.

  • NTRA SAKYI 9 years ago

    How much of the borrowed amount goes into people's private pockets and how much is utilised by the government for development?

  • DUKE 9 years ago

    Twenty Richest People In Ghana For 2013

    1. Ibrahim Mahama -$1.9 billion /Businessman , Brother of the current President of Ghana. Only Ghanaian to own a private jet.

    2. Alfred Mahama -$1.3 billion./ Businessman, brother ...
    read full comment

  • BILLYBILLY 9 years ago

    ON NEWSFILE, FIIFI KWETEY INSULTED ANYONE CONDEMNING BORROWING AND DESCRIBED IT AS PRIMITIVE FOR ANYONE TO CONDEMN BORROWING....SUCH AN INEXPERIENCED MAN WITHOUT ANY BUSINESS ACUMEN, HOW COULD HE BE PERSUADED THAT excessive b ...
    read full comment

  • United Ghana 9 years ago

    I heard him when he referred to those concerned abt borrowing as having "archaic mentality". The less said abt him the better except he's in a position of power. Poor GH

  • Fredsaid 9 years ago

    AND THAT OF THEIR FAMILIES N FRIENDS


    Twenty Richest People In Ghana For 2013

    1. Ibrahim Mahama -$1.9 billion /Businessman , Brother of the current President of Ghana. Only Ghanaian to own a private jet.

    2. Alfred M ...
    read full comment

  • Paa Joe 9 years ago

    OPAYIN SPIO-GARBRAH.

    WHY DID THE ECONOMIC ADVISERS(THE SO CALLED EDUCATED ECONOMISTS) HAVE TO ADVISE THE GOVERNMENT TO BORROW RECKLESSLY AND HOW WERE THESE BORROWED FUNDS USED FOR IN THE COUNTRY.

    WHEN SHALL WE BE IN THE ...
    read full comment

  • Ghanaba 9 years ago

    Thanks Spio Garbrah for your candid observation. Not long ago, NDC was taking loans by heart as if they were in competition with NPP as to who could take more loans. Actually, both parties brand loan acquisition as achievemen ...
    read full comment

  • OMANBA 9 years ago

    Half of Ghana's debt was borrowed by Busia.For the two years that he ruled Ghana it was always borrowing and nothing else.

  • abba 9 years ago

    THE SPIRIT OF JUNE 4TH 1979 REVOLUTION IS TOTALLY DEAD BECAUSE MAHAMA LED NDC HAS LOOTED THE COFFERS OF THE NATION. NOW IT IS OBVIOUS THAT THE BLOOD OF GEN.I.K.ACHAMPONG AND THE OTHERS WHO WERE EXECUTED ARE INNOCENT.

  • Frank-Justice 9 years ago

    Spio would have done Ghanaians a lot more good if he advised Mahama to stop borrowing than merely commenting on excessive borrowing.

  • BOB TEMA 9 years ago

    MR MINISTER AND WHERE IS THE MONEY YOU AND MAHAMA NDC BORROW DONT THINK YOU GUYS WILL GO FREE WITH THIS CORRUPTION WE WILL KILL YOU ALL

  • prophet BAWUMIA 9 years ago

    BAWUMIA IS AN ECONOMIC PROPHET

  • abba 9 years ago

    THE OIL DESCOVERY HAS BEEN THE PERSONAL PROPERTY OF NDC CRIMINALS. EVEN GOING TO 'IMF' TESTIFIES.

  • King Eddie 9 years ago

    Tell your Boss, probably he doesn't know

  • mensah abrampa 9 years ago

    God bless this Spio Garbrah guy, the last to get on board but the first NDC administration official to finally admit the bitter truth about the trend in our external borrowing. Excessive and reckless borrowing under this NDC ...
    read full comment

  • NEW LIGHT 9 years ago

    ONCE A BOSS ALWAYS IS: SPIO COULD LEAD THIS TEAM BETTER THAN HIS ASSISTANT /BOSS.

  • Ami 9 years ago

    Looting national for their personal gain through the commission etc.

  • Efo Kwaku Canada 9 years ago

    NDC will accountable for all the billions borrowed even the pennies will be accountable for to Ghanaians marked it

  • Keane atta 9 years ago

    The mere fact that you are credit worthy does not mean you must borrow and steal or misuse the credit! Ghana behaving this way shows how stupid we have been. Idiots all over the place!

  • VOICE OF REASON 9 years ago

    By Dumb Dramani is the main reason the Ghana has been pushed to the IMF......the country is simply broke,thanks to Dumb Dramani mindless profligate spending

  • Asona Ba Asah Bekoe Atuo - USA 9 years ago

    This Spio is also stupid just like his colleagues. They all lack wisdom.

  • Rust 9 years ago

    I said it and many doubt my observation. Spio go on and tell the nation where we went wrong. I salute you for your honesty. Long live the Rustman.

  • VOICE OF REASON 9 years ago

    Any leader with love for country will not plunder that country's resources the way Dumb Dramani has done.....putting the citizenry through a traumatic two year ordeal

  • EC 9 years ago

    The Mahama NDC gov't has as at the last count of their 7 years in gov't borrowed more than all gov'ts combined since independence.
    $27billion and counting is the debt stock. About $4-5billion dollars has been used for proje ...
    read full comment

  • Amavie 9 years ago

    Silly, Mahama doesn't understand anything about credit worthiness. If he was living abroad he would have filled for bankruptcy a long time ago. He is the kind of guy who will borrow and borrow without thinking that NO MONEY I ...
    read full comment

  • Samuel Asare-Nkansah(USA) 9 years ago

    Where were or where have been all those so-called economic advisors to the president? Ghana must shift from being good at reporting a nonconformance to proactively applying effective corrective and preventive actions. Just co ...
    read full comment

  • ATONGU 9 years ago

    This man has presidential ambition!

  • Ewe Nation 9 years ago

    Its ashanti fraud,corruption,waste and abuse of public resources that has pushed Ghana to a bailout.We know that 95% of corruption inside govt is done by ashanti bureaucrats and their foreign partners.This tribe is greedy,cor ...
    read full comment

  • Papa yaw 9 years ago

    No

  • EZEKIEL 9 years ago

    And WHAT USE did we put the EXCESSIVE BORROWING TO ????? THIS IS WHERE ACCOUNTABILITY comes in and we hear of ONLY PETTY THIEVES going to jail! The BIG THIEVES in suits and big Agbadas are walking free...WHY ?????

  • Queen 9 years ago

    AT LONG LAST. SOME WISE MAN IN NDC MAKING LOTS OF SENSE.

  • MAHAMA LOOT ND SHARE 9 years ago

    MAHAMA IS CRIMINAL,CORRUPT,USELESS FOOOOLISH MAN

  • ISSA ABONGO 9 years ago

    JOHN MAHAMA IS IN POLITICS TO MAKE HIMSELF AND HIS BROTHERS AND FAMILY BETTER. JOHN MAHAMA IS NOT IN POLITICS FOR THE PROGRESS AND DEVELOPMENT OF GHANA. HE IS IN POLITICS TO MAKE HIMSELF AND HIS FAMILY RICH. JOHN MAHAMA DOES ...
    read full comment

  • pataku 9 years ago

    Now, you guys are crying?you better stop crying immediately .Ghanaians don't want to pay taxes that's your biggest problem.I know a lot of people in Ghana who make big money a month if am saying big money I mean huge money ev ...
    read full comment

  • Karikari Ofori Mensah 9 years ago

    So , the question becomes , which administration had behaved in such reckless manner ?! . The country has been administered by only two ( 2 ) parties during this fourth republic . The record of N D C one , from 1992 to 2000 ...
    read full comment

  • Francis USA 9 years ago

    Kola let me tell u Kufour nd npp economic growth was 7 percent but not 70 percent. for only 8yrs they left a debts of 83 trillion Ghana cedis after hipc. Go back n check ur records well b4 u come to the platform

  • Lopez 9 years ago

    I hope you can advise your boss about this, since he said he will not listen to anybody and please be straight forward with us and stop blaming all governments. At least the economy was on a right footing until your NDC took ...
    read full comment

  • MARFO 9 years ago

    I LIKE THIS MAN.

  • oheneba 9 years ago

    YOUR ANNOYING MAHAMA (YAM)
    DROP THAT YAM

  • Hamza 9 years ago

    I'm switching from NDC, ENOUGH IS ENOUGH. Too much hatred from d ewes, Ghana is more united but most ewes are so trow backs. But d normal ones are cool.

  • Nana Egyir Aggrey 9 years ago

    Excessive corruption/thievery by the greedy bastards in your party; mister Spio Garbrah,- has pushed Ghana to IMF. I hope your party the NDC will buy a submarine if you do get the loan from the corrupt and immoral institution ...
    read full comment

  • Emmanuel Nuamah 9 years ago

    Dr.Bawumia draw the attention of the government about excessive borrowing else ghana will be a highly indepted country.they said it politics. Please let protect economy for the future

  • Hamza 9 years ago

    I'm switching from NDC, enough is enough. All this hatred coming from some of d trow back ewes. We're in twenty first century n still playing tribalism. Ghana is united!

  • TerriblY Spe cifiC 9 years ago

    The unknown happened. Npp unleashed an unconventional redenomination policy which today ended the country in an irreparable economic disaster.

  • Sam 9 years ago

    Why should Spio take up an appointment in a government whose policies he disagree with? If he has any principles, he should resign from Mahama's government because Mahama is financing his government and Spio' s salary with lo ...
    read full comment