June 23, 2024
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Energy sector debt poses greatest risk to Ghana’s economy – Minority warns

The Minority Leader in Parliament, Dr. Cassiel Ato Forson, has emphasised that the debt plaguing the energy sector poses an immense threat to Ghana’s economy.

Dr. Ato Forson warned that if not addressed promptly, this debt could potentially lead to a complete collapse of the nation’s economy.

Addressing President Akufo-Addo’s 2024 State of the Nation Address on Monday, March 11, the leader of the NDC Caucus in Parliament stressed the urgent need for action to prevent any further deterioration in the situation.

He expressed concern that the Ghanaian population is already bearing the brunt of the current economic crisis and cannot afford to endure additional disruptions in the energy sector.

Dr. Ato Forson criticised the Akufo-Addo government for its mismanagement of the energy sector since assuming office in 2017.

He asserted that the upcoming 2024 general elections provide an opportunity for the National Democratic Congress (NDC) to rectify these issues and restore stability to the sector.

“The reality, Mr Speaker, is that this crippling indebtedness and the mess in the power sector, created by the Akufo Addo/Bawumia government, remains the biggest threat to the Ghanaian economy,” he said.

“This Akufo-Addo/Bawumia NPP government owes in excess of $1.5 billion to Independent Power Producers (IPPs),” he added.

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