Ghana is bankrupt – Sam George

Sam Nartey George, a member of parliament for Ningo-Prampram, claimed that Ghana’s economy has crossed the line from insolvency to bankruptcy.

He asserts that Ken Ofori-Atta has led the nation to a point where the government cannot be saved and that this is the difference between being broke and going bankrupt.

He reaffirmed that Ghana could not be described as bankrupt but rather as being broke on the Good Morning Ghana program monitored by Ghanatodayonline.com.

“we are not even qualified to be called broke to be borrowed money, we are bankrupt. There is a difference between being broke and be bankrupt. If you are bankrupt, we can’t bail you out and that’s is where this delusional person has taken us to with the management of his economy. He still thinks that management of the economy is about wearing white and quoting the bible.”

He claimed that anything the finance minister says is not exactly what he does, including his claim that there won’t be a haircut but implementation of one.

Anything Ken Ofori-Atta says, he means the exact opposite. He assured Ghanaians that the IMF and haircuts would not occur. We are pleading with China, the Paris Club, and everyone in addition to the IMF. That is how dysfunctional we are, he said.

The IMF Executive Board is now awaiting financial assurance from the country’s creditors before it can sign off on the deal. Ghana first approached the IMF in July of last year seeking assistance to stabilize the economy. Since then, the country has completed all prerequisite steps for a final approval.

As the administration looks to win a $3 billion assistance, a delegation of nine members of parliament are now in Washington, D.C., for the International Monetary Fund (IMF) and World Bank Spring meetings.

The delegation is a member of a group that also includes Dr. Ernest Addison, Governor of the Bank of Ghana, Finance Minister Ken Ofori-Atta, and other members of Ghana’s economic management team.

At the meetings, the group is anticipated to engage with commercial, bilateral, and multilateral creditors to persuade the IMF board to support the deal.

Source: Ghanatodayonline.com