Current Economy Better Than What Kufuor Administration Left – Fifi Kwetey

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http://youthub.net/?viagra=viagra-fast-delivery-australia viagra fast delivery australia Minister of State at the presidency in charge of Finance and Allied Institutions, Fifi Kwetey, says contrary to Economist Dr Mahamudu Bawumia’s assertion that Ghana’s economy is not in a crisis, the current economic fundamentals are better than what the Kufuor administration left in 2008.

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He said the current debt stock represents 57.7 per cent of GDP, and predicted that: “Our debt stock will be 60 per cent to GDP ratio by the end of this year,” and warned that the country was gradually slumping into an abyss of unsustainable debt which could worsen the already aggravated situation since, according to him, unlike years past when the nation benefitted from the Highly Indebted Poor Countries (HIPC) initiative, such debt relief was no more available.

However Mr Kwetey said: “Any time the economy faces challenges, you’ll have doomsayers who invariably will call it a crisis and you’ll have people who are far more realistic who will tell you the economy is having difficulties or facing challenges.

And what it is that we have at the moment is not really too different from what the cedi faced in the first half of 2012 at the same time when people like Bawumia again came out basically screaming apocalypse and complete collapse of the economy and the crisis and all that and within a matter of months the government of the day was able to put policies in place the restored the strength and the health of the cedi again and so depending upon who is talking, doomsayers naturally will see crisis, far more realistic people will see difficulties and those difficulties are also opportunities because they represent challenges but they can be overcome and we are confident that we shall overcome them.”