General News of Tuesday, 4 May 2021Source: www.ghanaweb.comGhanaian business mogul, Dr Kofi Amoah, has described Ghana’s economy as a real definition of a Ponzi scheme owing to how the nation acquires loans, what the loans are used for and how the debts that accrue thereof are serviced. So how do you get multiply effect? How are you going to pay it when you didn’t create a multiplying effect within the economy to create more revenue? He further emphasized that Ghana’s problem has to do with how borrowed monies are spent including majorly being used to retire old debts hence describing the economy as a Ponzi scheme. He thus emphasized the reason behind an online petition he has started in which he is asking borrowers of the nation to cease giving Ghana loans.

Source: GhanaWeb May 04, 2021 07:30 UTC