New Patriotic Party (NPP) Member of Parliament for Bosomtwi, Simon Osei Mensah is calling for a total overhaul of the Finance Ministry to salvage the economy.
According to him, the current crop of economic managers led by Finance Minister, Seth Terkper will led Ghana to the slaughter house.
Hon Osei Mensah made the comment after a statement signed by Finance Minister Seth Terkper described the bond as a landmark one which will yield proceeds to be used to pay domestic debts.
The statement added that the bond is a soft amortizing one with a tenure of 15 years amortising in years 2028, 2029 and 2030 making Ghana the first sub-Saharan African country outside South Africa to successfully issue a 15-year bond.
But speaking on Asempa FM Thursday, Hon. Osei Mensah predicted turbulence time ahead.
He said the fourth Eurobond of one billion dollars to stabilize the economy would rather deplete the national coffers in the coming years.
The Bosomtwi MP indicated that, if nothing is done about the “Financial hemorrhage” in the country, the economy would collapse.
He noted that the incessant borrowing could cripple businesses who have already endured a hostile economic environment over the past two years.
Hon. Osei Mensah called on President Mahama to look for better economy managers to salavage the little resources left before they exit office in 2016.
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