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Kwesi Pratt, Editor-in-Chief of Insight, has rubbished government's quest to raise a $1.5 billion Eurobond.

Speaking on Peace FM's Kokrokoo, Kwesi Pratt held strongly that the Eurobond will not help develop the economy.

According to him, Ghana has lots of natural resources and so wondered why governments fail to exploit the natural resources to the benefit of the nation.

Addressing the issue further, Mr. Pratt bemoaned the extravagant borrowing by government over the years.

To him, the culture of borrowing from the international market and the International Monetary Fund (IMF) has not helped the economy.

He found it ridiculous some of the conditionalities that IMF gives successive governments before granting loans.

Mr. Pratt believed it is about time the leaders of the country utilized the country's resources and stopped the excessive borrowing.

“What can we do to stop going for loans frequently? What can we do to quit frequent trips to foreign lands to beg them for gari and rice for consumption? How are we going to stop this beggar-nation image...Since 1083, look at the economic indicators? Are we moving forward? We’re not.”