We’re borrowing indiscriminately and misusing the funds - Economist

Ghanaian economist Dr. Julius Kwaku Kattah has cautioned Ghana against its taste for loans.

The economist and lecturer argued that although we have taste for loans, we don’t put the loans to good use.

"The way we are borrowing indiscriminately; and we are not using for judicious purposes is terrible and a strain on the economy. If we cannot transform the country with the loans we contract, we are not serious and qualified to borrow."

He was reacting to the findings of the 2020 Auditor-General’s report, and the infractions identified that caused the nation to lose some GH¢12.8 billion,

He was asked to correlate the loans we take and the amount of money we lose through irregularities.

He said Ghana is not serious and has failed to hold people to account for their corrupt acts over the years.

Dr. Julius Kwaku Kattah believes as a country, we need to invest in projects that would help alleviate poverty, create jobs, and invest in projects for a purpose.

Economic systems, he said, must follow certain trends which would, in turn, ensure economic growth.

He warned Ghana would continue to be underdeveloped if we fail to put in measures to address these challenges confronting the nation.