Vice President, Dr Mahamadu Bawumia’s integrity has been put on the chopping board by the NDC which said his townhall public lecture last Wednesday was laced with deceits and lies.
MP for Bolgatanga Central, Isaac Adongo who was the main Speaker provided evidential proof with data the Bank of Ghana, Bloomberg’s latest reports said the Cedi has “reverted to its unenviable record of being the worst performing currency in Africa.”
He said of the $3 billion Eurobond borrowed, $2 billion is for the budget and only $390 million will be spent on capital expenditure.
$1.61 billion according to his analysis will go into consumption as he put it, by “family and friends”.
Mr Adongo, a member of Parliament’s Finance Committee christened He observed Dr Bawumia now christened “Walawale Adam Smith’, used December 2018 figures of the country’s foreign debt and added same to March 2019 domestic debt.
According to the financial consultant, if you use the old series, Ghana’s debt to GDP would have been 72%, something he said was outrageous considering the fact that the government was yet to experience its first election.
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