Madam Asare, Ghana’s Huge Debt Today, Will Become Our Children’s Burden Tomorrow

Madam Abena Osei Asare
“Government will continue to borrow for development,” says the Deputy Finance Minister-designate, Abena Osei Asare. –Modernghana reference. Madam Abena Osei Asare, Ghana’s current debt stands at a total of GHC 642 million, is it not enough if you care about the country’s progress and the welfare of the children?

If till now despite all the debt Akufo Addo has incurred on Ghana, yet we don’t see any developments and surprisingly, without shame or regrets, you were able to make such a statement means neither you really understand the harm huge debts can do to a developing country, nor think about the problem the next generation is going to face.

Ghana is in a difficult period which reflects in many aspects of political, social, and economic lives, although as a country, we are focused almost exclusively on the internal political turmoil without a slight idea that there are other external factors hampering the country's progress.

According to the World Bank, 48 percent of young Ghanaians aged between 15 and 24 do not have regular employment, in the abysmal gap between the backwardness of the rural and urban population, which is increasingly technological and globalized.

This must be attributed to the strong indebtedness of the country, the poor development of the industry, and above all the unequal distribution of resources, which abound oil, cocoa, precious woods, precious stones, fish, and tropical fruit.

Nobody can explain why the foreign exchange earned from the exportation of Ghana’s resources, does not reflect on any developments in the country. Instead, life continues to be difficult for the common Ghanaians. What else does Ghana need after oil discovery to make life better for the common people?

Urbanization, which is growing at a dizzying rate, on the one hand leads to economic and commercial progress, but on the other creates new pockets of extreme poverty and a mass of underprivileged people who pour into slums in conditions below the subsistence threshold.

There is no water, electricity, drugs, and the lack of employment is breeding crime and prostitution throughout many cities in Ghana. Imagine thousands of Ghanaians still live without electricity, despite the resources to provide them.

Ghana is a country of political opportunism, the desire for power, sale of land, resources, and the desire to get rich behind the population have created the weak points of the governance structure of Ghana.

What still remains, however, after six decades of independence, are division, hate, nepotism, and tribalism. Money goes and money comes, yet it’s hard to find out how the money is used in the country.

After the promise to fight against corruption, analysts and citizens began to be skeptical about Akufo Addo's magnificent promises to improve the country's economy that changed the mind of many intelligent Ghanaians.

The lack of industries and employment, certainly below the country's potential, remains a painful experience. How I wish there will be a reasonable person, not similar to the kind of Madam Abena Osei Asare, to say “enough is enough with borrowing because Ghana hangs on a thin rope.

Madam Asare, Ghana’s Huge Debt Today, Will Become Our Children’s Burden Tomorrow, therefore, think deeply before you make insignificant comments.