Former Finance Minister and current Government Economic Advisor, Seth E. Terkper, has revealed that the previous administration withdrew all funds from Ghana’s sinking fund and halted its replenishment.
This disclosure came during a recent interview on the program Point of View with Bernard Avle.
When questioned whether the New Patriotic Party (NPP) government stopped the sinking fund, Mr. Terkper confirmed, “Yes, they stopped it.”
In an interview monitored by Kumasimail.com, he further explained that instead of maintaining the fund, the NPP government drew down the money despite Ghana having three oilfields, whereas the sinking fund was initially established with revenues from just one oilfield.
Pressed on whether the current government is working to rebuild the sinking fund, Terkper responded emphatically, “Yes, because if you borrow whether as a household, business, or government, you must learn to pay.”
He emphasized the importance of fiscal discipline and the need for Ghana to restore financial buffers to manage debt responsibly.
Source :www.kumasimail.com /Kwadwo Owusu
