A Deputy Finance Minister, Lawyer John Kumah, believes there is a grand scheme to force Ghana into accepting financial intervention from the International Monetary Fund.
To John Kumah, the assessment done by international economic ratings firm, Moody’s, cannot be said to be accurate since no representative has been to town to have a first-hand information about the country's economy.
Moody’s has downgraded Ghana’s long-term issuer and senior unsecured debt ratings to Caa1 from B3.
Ghana’s outlook has also been moved to stable from negative.
Moody’s projects that Ghana’s government debt ratios will continue to deteriorate in the next few years with extremely weak debt affordability significantly constraining policymaking.
Moody’s estimates that government debt ended 2021 at 80% of GDP while interest payments alone consumed half of government revenue that year (positioning Ghana with the second largest ratio among Moody’s rated sovereigns).
But speaking on Okay Fm's Ade Akye Abia programme, he explained that Moody has no credibility to disclose or rate Ghana's financial standing because they have not even visited the country to understudy the country's financial and fiscal policy.
".....they lack knowledge about the country's economy.....How can you sit behind your computer somewhere in your office and decide to rate a country you have not even visited and have no knowledge about our financial standing? he quizzed.
To him, the country needs to be patted on the back for the way it has handled its affairs relative to the pandemic.
"Covid 19 has really destabilized a lot of country's financial standing. Even the UK is reeling under serious economic hardship so if Ghana has been able to manage its economy properly in these hard Covid times, you cannot give us a negative rating," John Kumah argued.
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Source: Isaac Kwame Owusu/Peacefmonline/[email protected]
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this is very serious. maybe Ibrahim Mahama is bribing them. Moody's has changed. enye kwa.
I am worried about amoako atta. he needs help. NDC has juju him. lets pray for our mps. NDC is behind all our problems. adwoa sarfo too.
He doesn't know how credit system works. He needs international exposure. So sad
NDC FULL OF SCAMMERS IMF FOR WHAT LOOOOOSERS. LOOK AT THIS GUY SETH TERKPER HAVE NO CLUE TOTALLY CLUELESS COULDN'T MANAGE GHANA ECONOMY ONLY TO GIVE IT TO IMF KEEP TALKING ***barred word*** FOR THE WHOLE 4 YEARS IMF IS THE ONE LOOKING AFTER HIS ECONOMY EVEN HIS BUDGET HAS TO BE APPROVED BY IMF, SPENDING HAVE TO BE APPROVE BY IMF, IMF FREEZE HIRING OF NEW PEOPLE SETH TEKPER IS JOKE JOKE JOKEWASTE OF TIME ***barred word*** TALKING TO HIM. NDC IS A SCAM REMEMBER SENCHIE ENDED UP WITH IMF. WHEN DID NDC BECAME MANAGERS OF THE ECONOMY IF THE GAVE GHANA AND GHANAIANS TO IMF TO MANAGE IT. SIGNED TAKE OR PAY POWER SECTOR AGREEMENTS, DOUBLE SALARY TAKERS, BUS BRANDING LOOTERS, WAYOMY LOOTERS, SOLD OLD 120 RAIL CARS FOR SCRAP WHICH COULD BEEN REPAIRE BY SWAME MAGAZANE FOR $50,000 DOLLARS. BRANDNEW OF THESE RAIL CARS COST 500,000 DOLLARS WHICH NPP CURRENTLY HAS FIXED 10 RAIL CARS BY SWAME MAGAZANE FOR 50,000 DOLLARS SUCH A DISPICABLE ART OF LOOT AND WASTE BY NDC ***barred word*** LOOSERS ECONOMIC MISMANAGEMENT. The Vice President, Dr Mahamudu Bawumia, in 1987 obtained a first class degree in economics from the University of Buckingham, the only independent university with a Royal Charter.
Eiiii, so they should come to your office and do their work When it was done to others, you we using it as a political weapon Accept it wai
so you wanted them to sit in your farm or in your toilet? or you prefer them to sit in your girlfriend bathroom? Lazy people. what is working in Ghana?