A cursory look at Ghana government’s level of borrowing and projection into the near future vis-à-vis the year 2022 plan of Nana President per his state of the nation address points to the breaking point of the economy.
Under the presidency of John Dramani Mahama, the borrowing rate (debt to GDP) from years 2012 to 2016 were 36% - 57%. A variance of 21%.
Under the presidency of Nana Addo, the borrowing rate (debt to GDP) deteriorated from years 2017 to 2020 as 57% - 87%. A variance of 30%.
Based on these rates and being conservative a theoretical variance of 25% increase in the government of Ghana debt to GDP will send it to 112% by year 2022 and 2023.
This projected 112% debt to GDP simply means that, all that Ghana earns for a year will be used to equate its marginal debt and interest payments with extra unpaid debt of 12%.
Fact is that Nana President has finally destroyed Ghana.
The 4 More 4 Nana cliché was the self destructive drug Ghanaian adults took and legally enforced by the Supreme Court knowing that no doctor has a cure.
In acceptance of the above fact and observing Nana President’s ways of running the country, he would be pushed to place Ghana on the capital market and titled, Ghana-4-Sale.
Be forewarned Ghanaians as your president’s mode of managing the economy, is on a dangerous route that can only come out at best with a long suffering austerity measure (tightening pot bellies with genuine double leather belt) or by the time Nana Addo leaves as the president your children would be taken as slaves to work and pay parental debts in foreign lands, with parents and grandparents gnashing of hunger and taste in a land once called Ghana.
Price the next generation Slave-Ghanaians would pay for their parents’ choice of Nana Addo as president looks painful, pathetic but unavoidable.
Though am without any authority, it would be good to instruct Nana President to embark on an austerity measure this year 2021 as ‘a relatively short term pain to protect our children from slavery-to-settle our government’s lavish spending of public debts’.
A word to the wise, is in the east or the west or south or somewhere else that Ghanaians must find by themselves.
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