You Are The Reason Why Ghana Is Bankrupt – Financial Expert Slams John Mahama

A financial expert has asked former President John Mahama to remain silent and never attempt to pin Ghana’s bankruptcy issue on President Akufo-Addo’s government.

Mr. Ishaq Kyei-Brobbey has said the former President is never fit to talk about the subject knowing very well that the two major issues that has made Ghana bankrupt is as a result of how poorly he managed the economy of Ghana.

During a studio discussion on Wontumi TV which was monitored, Mr. Kyei-Brobbey stated that if Ghanaians want someone to educate us about our debt, it certainly doesn’t have to come from Mr. John Mahama.

“If he understands that Ghana is bankrupt then he better remain silent. He contributed to Ghana’s bankruptcy issue. He has a major stake in it”, Ishaq Kyei-Brobbey said.

The financial expert insulated the Akufo-Addo led government from the issue of bankruptcy noting that two major legacy issues started by the government of former President John Mahama, led Ghana into this turmoil.

“One of them is the banking sector issue; GHC25 billion was used to clean the sector to save 4.5 million Ghanaian depositors from losing their money. 81,700 investors were also protected as the sector was cleaned up”, he said.

He continued that before former President John Agyekum Kufuor left office and handed over to the Mills-Mahama government, Ghana’s banking sector remained a vibrant one.

“This was a vibrant sector that former President Kufuor handed over to Mills and Mahama but they messed it up before leaving office…Banks were going round begging people to come for loans. The banking sector was more like a well-fed cow Kufuor gave to Mahama but before Mahama left office, the well-fed cow was vomiting blood and had grown lean”, he said.

Energy sector debt

Ishaq Kyei-Brobbey added that the energy sector debt which was a take or pay contract generated by Mr. John Mahama’s government, hurt Ghana’s economy just like the banking sector crisis.