Chairman of the Civil Society Platform on Oil and Gas, Dr Steve Manteaw has noted that debt in itself is not a bad thing for anyone.
He was reacting to the growing concerns about Ghana’s rising debts; with some suggesting the country is almost at the Highly Indebted Poor Country (HIPC) level.
In a Facebook post, Steve Manteaw opined that owing debts is not a bad thing however, having something to show for thus, what you used the monies borrowed for is what matters.
“Debt in itself isn’t a bad thing, provided one can show how prudently the borrowed money has been used. It’s called accountability.”
“If you borrow to finance freebies you’ll certainly have little to show for it. Smart borrowing is the option for smart leaders,” he wrote.