It will be a shame if Ghana returns to IMF- PIAC Chairman

Former Vice Chairman of the Public Interest Accountability Committee (PIAC), Mr. Kwame Juantua has said Government should be transparent else the country may head back to International Monetary Fund (IMF).

According Mr. Juantua, it will be a shame for the current government to return the country to IMF. 

The Minority in Parliament has accused the government of increasing Ghana's debt burden and using the money on consumption instead of capital expenditure or infrastructure development.

Speaking at a press conference in Accra Thursday, the Minority Spokesperson on Finance, Mr. Cassiel Ato Forson, said the government met a debt of GHc120 billion and added GH¢80 billion bringing the total debt to GH¢200 billion.

"You can do all the propaganda about the cosmetic fiscal deficit numbers, but republic debt will show your smoothness level", he said.

"The GH¢ 200 billion national debt represents an increase of about GH¢ 80 billion in the last two and half years alone by President Akufo-Addo and has raised the debt to gross domestic product (GDP) ratio from 56 per cent in 2016 to almost 58 per cent", he said.

Commenting on the issue Friday on a media platform, Kwame Juantua said the government should bring opposite economic gurus on board to stable the system in economic crisis.