
Ghana's debt stock rises 20% in 4 months. Borrowing and debt in itself is not the problem we are told. It is the essence, the necessity of that Borrowing that should be a matter of concern. That being the case, the mighty question that demands an answer is, why are we borrowing so much money, and what is it being used for?
Borrowing, either excessive or not, would require repayments. Our current situation with regard to debt repayments clearly shows a disposition on our part when it comes to clean maintenance of our debts. We are not in control of our finances. To cut a long story and not to draw in long references, Ghanaians are now overburdened with huge public finance responsibilities.
The financial stress Ghanaians are under was completely avoidable if the government had been less reckless in the management of public funds. For this reason, when it turns out that public officials and politicians have huge sums of hard currencies stockpiled in rooms in their residences, this is too hard to accept. There's nothing honourable about a sanitation minister being found to have quantities of raw foreign and local cash in her house. At home.
These days, the rest of the world communities eulogizes the economic and financial management acumen of the Chinese people and government. The Chinese, though, have not achieved such economic heights through just a dint of good fortune or divine miracle or luck. China has had to work diligently on strict economic and financial practices to get to where they are today.
One of the many measures employed by China to arrive at this stage of economic relevance was or is the strict adherence to discipline in the handling of public funds. They have zero tolerance to financial irregularities or indiscipline. We know of public figures and even members of the communist party of China who had to pay the ultimate penalty.
Literally, some paid with their lives for misuse of public funds. At this point, the re-introduction of the death penalty for persons clearly proven by a civilian Court of lawful jurisdiction, this must be brought back, to get the system cleaned, for the good of the motherland. Financial irregularities or corruption by public office holders kill people as well, and we must not lose sight of this fact. Thank you



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