Associate Professor at the Department of Finance of the University of Ghana Business School, Professor Lord Mensa has said President Akufo-Addo\u2019s continuous swipe at credit rating agencies exposes the government to over-borrowing.<\/p>\n
According to him, President Akufo-Addo\u2019s comments are because of the government\u2019s inability to borrow from the capital market to cover up the non-performance of the economy.<\/p>\n
President Akufo-Addo speaking to African leaders at a tribute to the AfriExim bank accused global rating agencies of recklessly downgrading Ghana\u2019s credit rating, effectively compounding the country\u2019s economic woes.<\/p>\n
But speaking on Morning Starr with Francis Abban on Tuesday June 20, Professor Lord Mensa says the President and his Finance Minister, Ken Ofori-Atta are only upset because the country has been cut off from the international capital market.<\/p>\n
\u201cIf you look at the posture of the President and the Finance Minister, clearly it is the accessibility of the capital market that is the problem.<\/p>\n
\u201cThe capital market deals with confidence that investors will have in your economy. But by word of mouth, say that the rating agencies are being reckless and by doing so it may affect our economic performance is different,\u201d Prof. Lord Mensah disagreed with the President\u2019s statement.<\/p>\n
He continued: \u201cWe were using the capital market to shadow our non-performance of the economy, that kind of economic management where you go and borrow and come and cover up as if you have dollars meanwhile they are borrowed which you have to pay in the long run, and immediately you were blocked from the international market, look are what happened to us.\u201d<\/p>\n
Is this a good news to ghana or\u00a0 bad news?<\/p>\n","protected":false},"excerpt":{"rendered":"
Associate Professor at the Department of Finance of the University of Ghana Business School, Professor<\/p>\n","protected":false},"author":1,"featured_media":25438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,1],"tags":[],"aioseo_notices":[],"jetpack_sharing_enabled":true,"featured_image_urls":{"full":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94.jpg",1200,650,false],"thumbnail":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94-150x150.jpg",150,150,true],"medium":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94-300x163.jpg",300,163,true],"medium_large":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94-768x416.jpg",640,347,true],"large":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94-1024x555.jpg",640,347,true],"1536x1536":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94.jpg",1200,650,false],"2048x2048":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94.jpg",1200,650,false],"chromenews-featured":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94.jpg",1024,555,false],"chromenews-large":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94.jpg",825,447,false],"chromenews-medium":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94.jpg",590,320,false]},"author_info":{"display_name":"nkyeremunews","author_link":"https:\/\/nkyeremunews.com\/index.php\/author\/nkyeremunews\/"},"category_info":"Government and Politics<\/a> Nkyeremu<\/a>","tag_info":"Nkyeremu","comment_count":"0","jetpack_featured_media_url":"https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/06\/BeFunky-collag-94.jpg","_links":{"self":[{"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/posts\/25435"}],"collection":[{"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/comments?post=25435"}],"version-history":[{"count":0,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/posts\/25435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/media\/25438"}],"wp:attachment":[{"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/media?parent=25435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/categories?post=25435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/tags?post=25435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}