play videoIMF Board recently approved a US$3 billion bailout for Ghana
A former District Chief Executive (DCE) for Atwima Mponua in the Ashanti region, Stephen Yeboah has raised concerns about the level of mismanagement by black leaders, suggesting that it is what has led to the struggles faced by the black community.
In a local language expression, he questioned the purpose of black people on earth, stating, "Na bibinii beyɛɛ
Read full articleden wo wiase" (translated as "what is the essence of the Blackman on earth?").
The former DCE expressed his relief that the recent bailout provided to Ghanaians by the International Monetary Fund (IMF) was not given as a lump sum.
According to him, had the entire amount been disbursed, the country's leaders would have misused the funds on unnecessary expenses.
He cited a lack of accountability for $11 billion borrowed through bonds, with only $3 billion being celebrated, which further fueled his doubts about the competence of black leaders.
Speaking in a panel discussion on Hello FM on May 20, 2023, he applauded the decision by the IMF to distribute the funds in installments, according to him, that will prevent the finance minister and others from seizing the entirety of the money for their parochial benefit.
“Abronye, Dr. Bawumia, and the finance minister made us understand that people who couldn’t live their lives well are those who go to the IMF, when you go to IMF, it means that you have put your destiny and everything into their care, which means that you know nothing so they should help you out because you have exhausted all your reasoning.
“I am very happy about how they are giving us the money in bits, because should they have given us all the money at once, the finance minister and his Databank would have been taking their share of the money. They have really done well by implementing such measures because they won’t leave the money for Dr. Bawumia and Finance Minister alone because they will waste the money…because we have evidence, they have taken over something billion and couldn’t use it for anything,” he said.
He further pointed out that the outstanding bond debt alone amounted to $11 billion, and global lenders were skeptical about lending more money to the country because of its inability to repay.
He questioned the significance of being jubilant over receiving $3 billion when $11 billion had seemingly yielded no result on the economy.
“Bond alone is 11 billion, and all over the world, people are saying that they won’t give them money again because they can’t pay. So, what will 3 billion do? ‘Na bibinii beyee den wo wiase?’…because it doesn’t make sense… 11 billion couldn’t do anything but 3 billion that you are happy,” he added.
You can also watch the latest episode of People & Places here
Meanwhile, watch the latest episode of SayItLoud on GhanaWeb TV below:
