The Akufo-Addo government will definitely borrow but in a much more different manner, Senior Minister-designate, Mr Yaw Osafo Marfo has told the Appointments Committee of Parliament on Friday, 20 January.
“We’ll be borrowing certainly but under different conditions,” he responded to a question asked by Tamale North opposition MP Alhassan Suhuyini.
“… You want to borrow to refinance such that you have room or space to operate because instead of paying a loan in five years, you’re paid off that loan but you are to repay the next one in ten years, so, there will be less cash outflow and, therefore, you create fiscal space for yourself.
“Borrowing more; certainly but differently. And you borrow to refinance to change your whole debt profile,” Mr Osafo Marfo explained.
The New Patriotic Party, accused the Mahama administration of increasing the country’s debt stock with incessant borrowing during the electioneering. According to Mr Marfo, the Akufo-Addo government will do things differently.
Source: Ghana/AccraFM.com
