Member of the National Democratic Congress (NDC) communication team, Sam George, has allayed the fears of Ghanaians that the nation’s debt ratio might have dire consequences on the economy.
Speaking on Peace FM’s “Kokrokoo” Friday, Sam George claimed Ghana’s debt ratio, though increased by about 2.1 billion cedis from June to August this year; is “safe” under the Mahama administration.
According to him, some foreign countries have run into much more debt as compared to the debt ratio of Ghana but the ratio has not had any collateral effects on their economy.
Citing countries like the United Kingdom and the United States, he held a strong view that these countries have incurred huge debts by over 60 per cent, yet they have achieved a stable economy.
Sam George further said that the Government of Ghana seeks loans for the right purpose, stressing that the loans inure to the benefits of the citizenry.
He alluded to the first gas flow through the Atuabo Processing Plant, stressing that the monies loaned to the government to carry out the project will, in five years, reap in much revenue to cover the cost of production.
Source : peacefmonline.com