Government resorting to Agyapa deal because it is broke [Video]


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A former Chief Executive Officer of the Bulk Oil Storage and Transportation Company Limited (BOST), Kwame Awuah-Darko, says the Akufo-Addo administration is pursuing the Agyapa Royalties deal “because Ghana is broke.”

“It is not because of any high idea of playing at a certain level. The government needs money and it needs it today,” Mr. Awuah-Darko insisted on The Point of View on Citi TV.

“If not, under what circumstances do you start listing your future income? You are listing your future income because you can’t wait for that. We need the money today,” he added.

Ghana’s debt stock rose to GHS255.7 billion, as of June 2020 and Mr. Awuah-Darko noted that 155 percent of Ghana’s revenue is being used to pay for wages, salaries and interest on debts.

In his view, Ghana is in an economic crisis and is “technically HIPC [Highly Indebted Poor Country].”

But he argued that the government is not proposing adequate …