Borrowing is a smart way to develop Ghana - Kofi Akpaloo reaffirms

Founder of Liberal Party of Ghana (LPG), Percival Kofi Akpaloo, has reiterated that there is no problem for a country to borrow to develop itself.

According to him, if he were a President today, he would have gone for 100 billion dollars loan to transform the economy.

He posited that if you borrow and invest in the economy, it helps the economy grow, expand and create jobs for the people.

Kofi Akpaloo noted that the $100 billion he would have borrowed would be invested in the agricultural sector to add value to the local produce.

He emphasised that Ghana should not be importing poultry.

"With $5 billion, the poultry industry can expand and grow," he told Kwabena Agyapong on Frontline on Rainbow Radio 87.5Fm.

He said the cocoa sector could also be given $5 billion to add value to our raw materials including, cholates and beverages.

Ghana he added would be able to cut down on rice and sugar importation with a $5 billion from the government.

He indicated that he does not believe in aids but borrowing.

Mr. Kofi Akpaloo blamed the sharp increase in prices of goods and services on the importation of almost every commodity in the country.

He intends to transform Ghana as a businessman because "managing the country should be done as a business and that is what our leaders lack," he added.