The Minority Leader in Parliament, Osei Kyei-Mensah-Bonsu, has predicted that Ghana’s debt will hit quadrillion by the end of 2015 if the government’s borrowing spree does not stop.

Kyei-Mensah-Bonsu says Ghana’s debt is now $95 billion from $9.5 billion and that it will hit $100b by the end of the year 2015.

The Minority Leader was commenting on the issue of excessive borrowing by government on Atinka FM.

He said the current debt of $95billion is not sufficient for the government and will, therefore, keep borrowing to support the economy.

The Minority leader said he would not be surprised if the country’s debt hits the quadrillion mark by the end of 2015.

Meanwhile, the Minority Leader is calling for the enactment of a Financial Intelligent Act (FIA) to tackle corruption.

“We are witnessing an unprecedented corruption in Ghana and so if actions are not taken, things would get worse’, he warned.

The Minority Leader noted the FIA empowers the bank to call people to explain huge and questionable amounts transferred into their account..

He said the law will help fight corruption and money laundering.


Source: http://yfmghana.com/news/ghanas-debt-to-hit-quadrillion-by-december

John mahma is d worst president in africa.

what!!!
whoever they are owing should just forgive them of their debt cuz they can never repay the debt...

Is John Dramani Mahama still the president?


That man is worst than abacha


Ghanians sorry ehn... OneLove

kestolove95:
John mahma is d worst president in africa.

pls Don't exaggerate things. He has not been good. But he is definitely not the worse.

Dharniel:
what!!!
whoever they are owing should just forgive them of their debt cuz they can never repay the debt...

I think you also have a lot of debts and problems u need to concentrate on in Nigeria.

iamord:
I think you also have a lot of debts and problems u need to concentrate on in Nigeria.

WHO?

Quad wetin?

Lol. Quadrillion!


Place your orders for long-lasting solar power banks. See my signature.

helinues:
The Minority Leader in Parliament, Osei Kyei-Mensah-Bonsu, has predicted that Ghana’s debt will hit quadrillion by the end of 2015 if the government’s borrowing spree does not stop.

Kyei-Mensah-Bonsu says Ghana’s debt is now $95 billion from $9.5 billion and that it will hit $100b by the end of the year 2015.

The Minority Leader was commenting on the issue of excessive borrowing by government on Atinka FM.

He said the current debt of $95billion is not sufficient for the government and will, therefore, keep borrowing to support the economy.

The Minority leader said he would not be surprised if the country’s debt hits the quadrillion mark by the end of 2015.

Meanwhile, the Minority Leader is calling for the enactment of a Financial Intelligent Act (FIA) to tackle corruption.

“We are witnessing an unprecedented corruption in Ghana and so if actions are not taken, things would get worse’, he warned.

The Minority Leader noted the FIA empowers the bank to call people to explain huge and questionable amounts transferred into their account..

He said the law will help fight corruption and money laundering.


Source: http://yfmghana.com/news/ghanas-debt-to-hit-quadrillion-by-december

So, how come 100 Billion (100,000,000,000) is a Quadrillion (1,000,000,000,000,000)?

Idrismusty97:
Quad wetin?

quadrillion,mehn! quadrillion!!!

the 100 billion is not in dollar but cedis, get your fact right before posting and for your information cedis to dollar is around 4, you need 4 cedis to buy dollar

AskProf:


So, how come 100 Billion (100,000,000,000) is a Quadrillion (1,000,000,000,000,000)?

Just ask Google

Debt to GDP should be considered before concluding that the debt is too much. If Ghana's GDP can support the debt while using it optimumly for its purpose, then let the dollars roll in.

omowolewa:
Debt to GDP should be considered before concluding that the debt is too much. If Ghana's GDP can support the debt while using it optimumly for its purpose, then let the dollars roll in.

best talk here so far

AskProf:


So, how come 100 Billion (100,000,000,000) is a Quadrillion (1,000,000,000,000,000)?

media for u. Trying to pain negative stories to sell

Hmn..i hope this does not have a domino effect on other African countries like it did in America and the rest of the world.

African countries ought to start saving and thinking of long term investments. They just kicked out the government that did such in nigeria, makes you wonder

Rubbish talk! The fact that creditors are still rushing to lend to Ghana should tell you Ghana is still credit worthy and capable if paying it's debts.

Dharniel:
what!!!
whoever they are owing should just forgive them of their debt cuz they can never repay the debt...

PetroDolla3:
Rubbish talk! The fact that creditors are still rushing to lend to Ghana should tell you Ghana is still credit worthy and capable if paying it's debts.

a quadrillion!
do you realise how much that is?
that's a 1000 pieces of a trillion while a trillion is a 1000 pieces of a billion and a billion is a 1000 pieces of a million, should i continue to break it down for you?
and i'm very sure if they should double the amount in ghana's treasury, it cant pay the debt...

You believe that sh1t about a quadrillion? you mean you believe everything you read,especially on nairaland, about Ghana?

yes, Mahama has performed poorly but the Ghanaian economy is not as bad as some of you nigerians wish to portray. And your own economy isn't doing better, even with 2.5 million barrels of oil per day production.

Dharniel:


a quadrillion!
do you realise how much that is?
that's a 1000 pieces of a trillion while a trillion is a 1000 pieces of a billion and a billion is a 1000 pieces of a million, should i continue to break it down for you?
and i'm very sure if they should double the amount in ghana's treasury, it cant pay the debt...

PetroDolla3:

You believe that sh1t about a quadrillion? you mean you believe everything you read,especially on nairaland, about Ghana?

yes, Mahama has performed poorly but the Ghanaian economy is not as bad as some of you nigerians wish to portray. And your own economy isn't doing better, even with 2.5 million barrels of oil per day production.

i never for once wish ghana's economy bad...

Is it $95 billion or 95 billion cedis?
It can't hit a quadrillion by the end of the year. That's implausible. What kind of BS is that?
And can the economy maintain that loan portfolio?
Even if the economy can, I don't think I will be comfy if Nigeria owe $95 billion not to talk of Ghana but then again if the lawmaker (or whoever reported this) got the quadrillion thing wrong, this might just be either a lie or the currency is cedis.