A former Parliamentary Aspirant in the Akatsi South Constituency, Mr. William Kormatsi, has averred that the country under the leadership of Nana Addo Dankwa Akufo-Addo has no economy.
According to the business tycoon, the economy is dead, with the country’s real Gross Domestic Product (GDP) above 100%.
Mr. Kpormatsi made this assertion on his official Facebook page.
“Ghana has no economy again! Historically, debt to G.D.P is now beyond 100%. Let’s take care of our small savings!” He stated.
According to him, the magnitude of suffering being experienced by Ghanaians cannot be compared to the ravages of war, advising Ghanaians to take care of their savings in the country’s banks.
Mr. Kpormatsi’s comments add to the sentiments of many Ghanaians who have decried the country’s economic woes.
Ghana, under the leadership of President Nana Addo and Dr. Bawumia, is currently experiencing a hard time, with the country’s currency consistently falling against the US dollar and other major currencies.
What will IMF assess differently? Figures are showing already that our debt is not sustainable unless debt forgiveness and partial debt-forgiveness ( hair-cut) from multi-debt partners.
Commenting on the post, Mr. Kpormatsi added that, It is very dangerous for a country to have higher internal debts than external but that is where we are now – 70 /30. So hair cuts will collapse our banks. If we want debt forgiveness, you must stop Agenda 111, reduce ministers to 30, cancel free SHS and all other wants, unless emergency projects
He went on to add that, About cedi depreciation, IMF’s promise of 3 billion dollars injection, if done, will only put or sustain cedi to the dollar at Ghc 10 for a maximum of 3 months, considering how $700 million loan sustain the cedi depreciation at Ghc 10 for 21 days at Ghc 10, which is now close to Ghc 11.
