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Parliament of Ghana on Tuesday, May 2, 2023, approved a loan agreement between the government of Ghana and the world bank for $ 200 million to finance the Ghana Digital Acceleration project. An amount of $ 150 million was also approved for the financing of phase 2 of the West Africa Food System Resilience program.
An amount of $ 60.6 million was approved to support the Ghana Covid -19 Emergency Preparedness and Response project and an on-lending agreement between the government and the development bank Ghana for an amount of £ 170 million to support the establishment of a financially sustainable development bank.
Hon Casiel Ato Forson speaking on the floor of parliament after the approval of the loans bemoaned the rate at which the Nana Addo Dankwah Akufo Addo’s led NPP administration keeps borrowing monies despite the already over-Burdened debts on the country.
He stated that parliament has approved a loan amount totaling about $710million at the time the country is in debt distress, and defaulted in debt repayment both domestically and externally indicating that if care is not taken the activities of parliament on May, 2 being the approval of loans will go into the Guinness Book of records as a country that keeps borrowing at their time in debt distress.
Hon. Casiel Ato Forson stresses that it is very essential to stop digging when you are in a hole but NPP Government keeps adding to the already existing unprecedented debt of the country instead of safeguarding the economic stability of the country.
He revealed that the NDC minority in parliament is not in support of the approval of the said loans and hence voted against it.
Story By: Kwaku Mensah Abrampa (High Radio – Bechem)