Ghana's Indebtedness and The Yearly Political Promises, More Harm Or Good.

Let's talk about about Ghana's debt.  Our politicians and stakeholders of this country has laid huge debts for the growing youth to pay.  The debt of Ghana Since 2001 has been on the rise and never fell.  Our major worry needs to be focused and directed to the clearing of this overwhelming national debt. 

According to a Ghana Statistical survey,  Ghana owes a debt of USD $44 Billion.This means everyone of our 29 million population owe GH₵ 8,817.  The Kuffur-led  government somewhere  after 2001 declared  Ghana a HIPC that is A Highly Indebted and Poor Country. In this HIPC agenda, Ghana, after the necessary documentation was cleared of all it's debt. This means from somewhere 2002 Ghana should have no debt at all because after you have been declared HIPC it will very difficult to aquire fresh loans.

But just in about 4-5 years later, that is to say around 2008, Ghana's debt has increased again totally to USD $8 billion. In case you don't know the exchange, USD $1M will be equal to about 54 billion in the old currency of Ghana. So Just imagine.

The debt never decreased but kept on increasing and has left us at where we are today at about $44 billion. 

Meanwhile the the successve government has kept on promising, promising and promising. It is not weird when we have already started hearing a lot of the promises ahead of the 2020 general elections. The opposition will make their promises as the incumbent also make their more promises demanding a re-election into office. The NPP government before the 2020 general elections has made such promises to the people of Ghana as One village on dam, one district one factory, onem million dollars to every constituency every year and the famous free shs. This promises may have led to their massive win in the 2016 general elections. The free shs policy have been implemented but where are the rest.

The NDC on the other also promise ghanaians some number of infrastructural developments. They did some and left some. In a tour to  Sogakope yesterday,  the NDC flag bearer has made it known to them that, when they are been voted into power, there will be the implementation of free tertiary education from the vocational institution to the highest level that is university. 

All this promises are made each year but Ghana is still at where it was. According to the United Nations the world is to undergo a national recession of about 2 years. With all this debts, are we going to borrow more to take us through the period of economic recession or we are going to be sustained locally?