It should baffle the mind of any reasonable being to know that Ghana has so much yet we go out to borrow very little at a high interest rate.
As we speak, Ghana is at IMF hoping to get a bailout to salvage the collapsing economy. The government hopes to get a maximum of 2 billion dollars from the international monetary fund before it can pay workers in the next couple of months. Preliminary investigations from the IMF suggest that Ghana is at a critical situation.
A team that met parliamentary select committee on finance told parliament that the situation is such that any further delay in approving a 1 billion dollars loan facility before parliament could send the economy to bankruptcy. It has thus persuaded with the minority to support the government to secure that fund in order to keep the country running.
Interestingly, while we are at IMF with cup in hand begging for just 2 billion dollars equivalent 15 billion Ghana Cedis, the auditor general is reporting of bigger money going missing.
The 2021 Auditor General’s report summarised the total amount that has gone missing between 2017 and 2021 and quotes the figure as 50 billion Ghana Cedis.
This was revealed by the MP for North Tongu Hon. Samuel Okudjeto Ablakwa. According to the maverick legislator, if Ghana was serious enough, it would had chanelled its energy into retrieving the missing money instead of going to IMF or imposing E-levy. He posted this on Facebook intercepted by CitizenOne.
“According to Ghana’s Auditor-General, between 2017 and 2021, financial irregularities have cumulatively cost Ghana some GHS 50billion.
Instructively, our government is chasing the IMF for a $2-3 billion bailout which is less than half of the GHS 50billion lost to irregularities”, Ablakwa wrote.
Many people are already calling on the government to bring back Mr. Daniel Dumelovo because he demonstrated his readiness to fight corruption when he was the auditor general. He was able to surcharge Yaw Osafo Marfo, the senior minister.
Unfortunately the President was not happy and he directed him to leave his office. Since then, the new auditor general has not been bold enough to surcharge anyone.
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