Politics

Govt is using Covid-19 funds to finance existing debts – Seth Terkper.

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Seth Terkper who is Ghana’s former finance Minister says the government could be using Covid-19 funds to finance existing debts on the blind side of Ghanaians.

Mr Terkper stated that funds needed to fully fight the pandemic has been exceeded through the $ 1 billion International Monetary Fund loan, $219 million drawdowns from the Stabilisation Fund, the World Bank loan as well as the funds accrued from the National Covid-19 Trust Fund.

His allegations follows the GHS 10 billion support requested by the Government of Ghana from the Central Bank to finance its budget deficit as a result of the pandemic.

The former Finance Minister,stated this in a media interaction on Friday, he demanded that the government comes clear on what it is financing with funds accrued under the guise of using it to fight the global pandemic.

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