Finance

We can’t go to IMF anymore, we have borrowed enough – Former Finance Minister

Ghana is in crisis, Former Finance Minister

Ghana’s arrears piling up, Prof Botchwey

Raising revenue domestically a challenge, Prof Botchwey

Former Finance Minister, Dr Kwesi Botchwey, has said government can’t return to the International Monetary Fund (IMF) for financial assistance.

According to him, Ghana has borrowed so much money from IMF and government’s arrears keep piling up.

He furthered that generating revenue domestically will be a challenge for government.

Dr Kwesi Botchwey indicated that Ghana currently is in crisis and it’s about time government realizes the problem and faces it squarely.

He pointed out that road contractors have not been paid their due, arrears keep piling up among other bills that government cannot settle.

Speaking at the Independence Day lecture in Accra on Monday, March 7, 2022, the former finance minister accused government of imposing more hardship on already burdened Ghanaians.

“We are in the crisis…We are unable to pay our bills, we are imposing hardship even on the vulnerable, contractors go unpaid, arrears are piling up and we have borrowed so much money that servicing it is going to create a huge problem, especially for younger generations,” he said.

“In any case, you have borrowed so much that we can’t go to that market anymore and even raising the revenue domestically is going to be a problem,” Kwesi Botchwey stated.

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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