Nana Addo Is Mortgaging Ghana’s Asserts

The Caucus for Democratic Governance, Ghana (CDG-GH) is worried about increasing rate of corruption leading to the resignation of Mr. Martin Amidu, Special Prosecutor. According to Mr. Amidu, “the mother serpent of all corruption” is Ghana`s headache.

 Mortgaging Asserts

Apart from 142 corruption cases (2017-2020) which cost Ghana over 60 billon ghc, Nana Addo is still mortgaging many asserts in our country. Our bauxite deposit has been mortgaged to Sino Hydro for 15 years for payment of $2 billion. The Agyapa deal, seeks to mortgage our 10% Mineral Royalties for 10 years; for payment of $700 million.

The ESSLER Bond which was meant to be paid off in 5 years is now being used to service debt, while the original debt is still hanging. GETFUND, used in financing schools and Universities has been mortgaged for 15years; so has our cocoa trees also been mortgaged for 10 years for payment of 600 million.

The illegal “Global Medium Term Note” deal, which neither passed through Parliament nor the Attorney General to sort approval is being sold at a discount, so Akufo Addo can get more money to spend.

Deceptive Macroeconomic figures

The sad story is that all these mortgaged asserts and the monies collected, are not recorded in the regular debt sheet. This critical accounting reduces our true debt and produces deceptive macroeconomic figures to please the public; while mortgaged payments are pushed to 20 years; when our children and grandchildren would be required to pay monies borrowed and recklessly spent by Akufo Addo the 76 year old President.

 

By: Dr E.K.Hayford, Executive Director,  CDG-GH

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