European Fund Managers must cease granting multi billion loans to already debt-heavy Ghana

European Fund Managers must cease granting multi billion loans to already debt-heavy Ghana

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Movement For Progress started this petition to European Bond Markets and

Ghana is presently overburdened with loans. The total revenues plus grants to government can only service loan principal and interest payments, leaving nothing for investment to improve the welfare of citizens 

Additionally the costing of projects to which the loans are applied are exaggerated, creating room for corruption. The YOUTH needs jobs, importation and borrowing should be reduced!

Ghana had previously been declared HIPC, Heavily Indebted Poor Country, and over USD 4billion of Debt was forgiven to give the country a clean slate. Now we have borrowed over 40 billion dollars. Due to the large YOUTH unemployment, with little domestic production, the country is import-dependent

With high unemployment, the tax base has shrunk, rendering Govt incapable of generating enough tax revenue to service its domestic civil service salaries and loan and interest payments to local and foreign lenders

THE PONZI SCHEME OF BORROWING TODAY TO PAY FOR YESTER-YEARS ACCUMULATED DEBT MUST STOP NOW FOR AN ALREADY HIPC COUNTRY

PLEASE HELP!!!

0 have signed. Let’s get to 5,000!
At 5,000 signatures, this petition is more likely to get picked up by local news!