No Country Can Survive Without Borrowing – Economist
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An Expert in Economy in the person of Mr Evans Tetteh Korli and a financial expert has opined that no Country can survive without borrowing.
He made this revelation on Monday October 29 2018 when speaking to Captain Kofi Wusu, host of Susubiribi Morning Show on Radio1FM, 100.7MHZ.
This was as a result of the President of the Nation, H.E. Nana Addo Dankwa Akufo-Addo said Ghana won’t stop borrowing which people are arguing goes contrary to his oblectives as when in opposition.
“We will borrow money; everybody borrows money. The United States of America is one of the biggest debtors in the world. So borrowing money is not necessarily a betrayal of the concept of independence. The key for us in borrowing money is that we borrow money to create assets that will allow us to pay the money back. That is the key…If we borrow the money and use it properly it is an asset for us in expanding our economy and infrastructure,” Akufo-Addo said.
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He said he’s not surprised Nana Akufo-Addo has said he won’t stop borrowing because in developing a nation, you either
Ghana owes GHC159bn but does not reflect in the state’s development. According to Mr Tetteh Korli, the monies borrowed must be used for adventures that would generate funds or revenues for the nation.
He said Ghana has over the years been borrowing for development citing Akosombo Dam, Terminal 3, which intend generate revenue for the nation to help pay the country’s debts.
He also advised the administrators of the Nation to be careful of misappropriation of the Loans.
By: Radio1News|Ghana
