Energy Sector Debt Remains Biggest Threat to Ghana’s Economy – Minority

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Source: Joy online

During the State of the Nation Address (SONA) in parliament on Monday, Dr. Cassiel Ato Forson, the Minority Leader, highlighted that the energy sector’s debt poses the most significant threat to Ghana’s economy.

He emphasized, “The reality, Mr. Speaker, is that this crippling indebtedness and the turmoil in the power sector, caused by the Akufo Addo/Bawumia government, remains the biggest threat to the Ghanaian economy.”

Dr. Forson pointed out that the substantial revenues allocated from the Energy Sector Levies Act (ESLA), intended by President John Mahama to settle all legacy debts in the energy sector, had been mismanaged by the current administration. He added, “This Akufo-Addo/Bawumia NPP government owes in excess of $1.5 billion to Independent Power Producers (IPPs).”

Furthermore, he criticized the Akufo-Addo/Bawumia government for employing a short-term approach, leaving the burden of debt repayment to future NDC administrations. He stated, “The Akufo-Addo/Bawumia government has resorted to a fire-fighting strategy, deliberately kicking the can down the road for the next NDC government to inherit its huge indebtedness to the IPPs.”

Source: Citi online

 

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