Ghana has no capacity to borrow $19 billion - Adongo

Ghana does not have the capacity to borrow nineteen billion dollar ($19 billion) and be able to service it over the next ten years, the National Democratic Congress (NDC) minority in parliament claims.

“We do not need any details period!” ranking member of the Finance Committee, Hon. Isaac Adongo on Asempa FM’s “Eko Sii Sen” afternoon political talk show hosted by Kojo Asare Baffour Acheampong (KABA) exclaimed.

The NDC Member of Parliament (MP) for Bolga Central Constituency in the Upper East Region in a heated interview on the station questioned the cost of projects the government plans to embark on with the stated amount.

Government of Ghana has secured $15 billion loan/grant from China to fund massive transformational agenda projects with the likelihood that another four billion dollars would be committed to various projects in the country.

Deputy Minister of Finance, Kwaku Kwarteng has revealed that full details of the loan will be put before parliament for before it is signed off allaying fears the amount will be contracted without recourse to the legislature.

But the NDC minority in parliament insists they need blue prints of government project to allay their fears despite this year’s budget document.

“Even the free School High School (SHSs) education policy the government says it will implement it this September, we do know the exact amount budgeted for. How did you know the cost of other budgets before going for this loan but that of the free SHSs is unknown”, he asked rhetorically.

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