Ghana needs US$10billion annually to meet infrastructure demand according to its Finance Minister, Ken Ofori-Atta

The Minister explained that even though Ghana’s debt keeps rising like other African countries, borrowing remains an alternative for raising funds for the country’s development.

“The problem is how do you tackle your infrastructure if you don’t borrow and whether we can find means of long-term facilities, 50 odd years low financing to be able to do that.”

Mr. Ofori-Atta believes infrastructure is a human right issue that must be addressed.

“Because it is through that when the farmer works, the goods can come to the market, people can go to school, health, etc. These are all things that people should have. But the cost is what will put any country down.”

Ken Ofori-Atta was speaking to the press after the African Caucus Meeting held in Accra.

The annual African Caucus Meeting brought together Finance Ministers and Central Bank Governors across the continent as well as African Governors of the World Bank Group and the International Monetary Fund

The event was used to discuss penitent economic and development issues confronting the continent.

The meeting was opened by President Akufo Addo. It was on the theme “Africa beyond Aid – Enhancing Institutional Capacity and Innovative Finance for Sustainable Growth”.Ghana needs US$10billion annually to meet infrastructure demand according to its Finance Minister, Ken Ofori-Atta

Ghana’s Finance Minister Ken Ofori-Atta says the government will need up to US$10 billion a year to achieve its infrastructure demand.

Justification

The Minister explained that even though Ghana’s debt keeps rising like other African countries, borrowing still remains an alternative for raising funds for the country’s development.