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Business News Tue, 7 Apr 2020

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Coronavirus: 'Don’t touch Heritage Fund, use IMF loans' - Seth Terkper

Former Finance Minister, Seth Terkper, has advised government not to use the Heritage Fund to fight the Coronavirus pandemic.

Speaking on Atinka TV’s Morning Show, 'Ghana Nie' on Tuesday, Mr Terkper argued that, it will not be prudent to use the fund, which is meant for future generations, to fight the pandemic now.

Mr Terkper, who was Finance Minister in President John Dramani Mahama’s administration, urged government to use other sources to fund the fight against the pandemic, which has so far recorded 287 cases.

He mentioned the Stabilisation Fund, which currently has $200 million dollars in its fold IMF loans, the Covid-19 Trust Fund, private initiatives among others as possible sources of funds to combat the deadly disease.

He indicated that several loans amounting to one billion dollars have passed through parliament for approval in the last three months and that government could do what he calls “realignment” of some of the loans in order to get some money for the fight against the disease.

He indicated that, it took close to a decade for the Heritage Fund to get 560 million dollars and that it will take another decade to get these funds back if it is depleted now.

Source: Atinka Online

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