Parliament of Ghana has failed the citizenry by allowing some people in government and their businesses to benefit from the woes of the country, ace showbiz personality Kwasi Kyei Darkwah has said.
Appearing on GTV’s Breakfast Show hosted by Kafui Dey, Wednesday, KKD, as the veteran broadcaster is affectionately called, expressed utmost disappointment in the people’s representative for failing to ensure the country is not taken for granted.
According to him, it is extremely distasteful for companies of some people in government to milk the country by playing financial advisory roles for loans the country takes.
“…The Minister of Finance’s company or former company is a transaction advisor to the monies we borrow. So, as Ghana gets poorer, the Minister of Finance’s company or former company gets richer,” KKD who donned Kente with regalia said on the show.
“This is not only about the Minister of Finance. This is about Parliament. Parliament, you must be ashamed of yourself. You have failed the people of Ghana. Because I don’t think from the time of Nkrumah to date, whoever is the Minister of Finance should be benefiting every time our country goes to borrow money. Is that what happened under everybody in this country? What precedent are we setting?” he asked.
The media guru was equally unhappy about the fact that some people are unperturbed about the ramifications of the supposed financial advisory roles played by companies of some government officials as they regard it as a normal practice.
He recalled his interaction with some personalities in his quest to inquire about the existence of such bodies after reading a report on Ghana’s debt, only to be told it was “general knowledge”.
“I called four different people – some in civil society, some in government, some in the former government – and they said ‘oh, but this is general knowledge’.
“It's general knowledge? And Parliament thinks it’s okay? So, whoever wins the next election, will also set up their own companies and be the transaction advisors when we go and take a loan? What is wrong with us as a people?” KKD queried.
The New Patriotic Party while in opposition preached against irresponsible borrowing but has been accused by the National Democratic Congress of doing worse under the Akufo-Addo-led administration.
In the wake of the current economic challenges in the country, the government since the start of the year on numerous occasions insisted it would not turn to the International Monetary Fund for financial support as it believed in its homegrown policies to salvage the situation.
But Ghana, in July this year, backed down on its stance and decided to seek financial support from the Bretton Woods institution to restore macroeconomic stability, and safeguard debt sustainability, among others.
The country is said to be targeting an amount of $3 billion over three years from the IMF once an agreement on a programme is reached.
The new amount requested as a loan was double the government’s initial target of $1.5 billion.
It is expected that a possible deal with the IMF could be reached by at least the second quarter of 2023.
