Citizen Kofi Amoah has had the support from World Bank in telling Government of Ghana to stop excessive borrowing. David Malpass warned that future generations are at risk.
He advised the country to pay attention to its debts which resulted in the country been classified as high risk of debt distress.
Businessman Dr Kofi Amoah’s push to have the government of Ghana to stop its excessive borrowing seems to have found favour with the boss of the World Bank.
David Malpass who is the President of the World Bank has cautioned that the country’s future generations are at risk as excessive borrowing does not cease.
He said there is a need for the government of Ghana to re-focus on fixing the country’s rising debt stock which has ballooned over the years.
The caution from Mr Malpass comes after the Ghana government through President Nana Akufo-Addo took a loan facility worth £170 million for the establishment of a Development Bank during his trip to France.
Responding to a myriad of questions including the excessive borrowing of government on Joy News. Mr Malpass said he is worried about the impact of this on future generations.
He said: “Ghana needs to take a break from borrowing and pay attention to its debts which resulted in the country been classified as high risk of debt distress”.
The latest call by the World Bank boss is only a reiteration of calls made by Dr Kofi Amoah who for the last couple of month has been championing an agenda to have the country stop borrowing for consumption.
He currently has a loan petition up and running on social media where he is calling on well-meaning Ghanaians to sign and impress on the government to stop the excessive borrowing.