Covid-19: We Did Unprecedented Borrowing To Save Lives – Oppong Nkrumah

Information Minister, Kojo Oppong Nkrumah says government had no choice than to borrow more to tackle to Coronavirus pandemic that threatened lives and the economy.

According to him, people are not dying in Ghana as compared to India because of government’s efforts and monies borrowed to tackle the pandemic.

“We have to literally break the banks, borrowed money that we have never borrowed before, exceed some of our very fine statistical limits that we have put in place. We have to sacrifice all that so we can pump resources into ensuring that today you and I are still alive and we are not like India,” he told the media in Tamale.

He stressed: “Today you see deficit of 11%, you see debt to GDP ratio over 70%, you see revenues are falling, you see expenditure is challenged. That is to be expected if we are going to sacrifice that to protect lives”

Source: GhanaFeed.com