May 30, 2024 7:54 pm

‘Univ. of Ghana, Sports Stadium may be used as collaterals for loans’ – Local Governance Expert

Local Governance Expert, Solomon Amon Kotei has averred Ghana would likely use state facilities and institutions like the Sports Stadia and the University of Ghana as collateral to secure loans in future. 

Mr. Amon Kotei, who was speaking on Onua TV/FM’s ‘Maakye’ on Monday, November 29, keenly observed by Ghanasonline.com said the above is likely to happen because almost all state assets have been used as collateral for loans including mineral reserves that have not been mined yet.

“Our bauxite which is in the land, gold, oil and almost everything has been used as collateral for loans. In future we may be using the Sports Stadium and the University of Ghana because they’re the only things left now. That’s why we need to pay the taxes else the economy cannot run,” he told host, Captain Smart.

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He added the country is bound to collapse if such moves aren’t adopted to secure more loans, considering the recent failure of government Eurobonds, making her resort to more taxes to run the economy.

Parliament last Friday rejected the 2022 Budget Statement and Fiscal Policy after the Majority walked out over a heated debate on the presence of the General Secretary of the NDC and the Finance Minister, Johnson Asiedu Nketia and Kenneth Ofori-Atta respectively in the House. The House is expected to resume sitting on the budget approval tomorrow, Tuesday, November 30, 2021.

 

Source: Felix Anim-Appau//Ghanasonline.com

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