<<Print>>

Member of Parliamentary Select Committee, Hon. Isaac Adongo has indicated that the rate of borrowing under the supervision of the Vice President Alhaji Dr. Mahamudu Bawumia in the Akufo-Addo’s administration cannot be considered as responsible borrowing.

At the closing ceremony of the National Policy Summit on Tuesday, 15 August, Dr Bawumia, who was critical of the Mahama administration borrowing streak, said: “No government can say they won’t borrow money, that is ridiculous but you have to borrow responsibly and not recklessly.”

“A lot of people misunderstand when we say we are going to be responsible, it doesn’t mean that we will not borrow money, it only means that we are going to borrow responsibly and not recklessly,” he added.

Commenting on this issue on Okay FM’s 'Ade Akye Abia' Morning Show, the NDC MP for Bolgatanga Central posited that Akufo-Addo’s government in 5 months has borrowed Ghc15 billion without any work to show for it.

He recounted Bank of Ghana’s report has shown that the first quarter of the country’s debt has increased from Ghc122 billion to Ghc127 billion, wondering how the debt has increased when there is no development going on in the country.

“If I owe 2 billion and I take loan of 2 billion to offset my debt, it means my debt remains 2 billion and how come it has increased? So the difference of 5 billion, what did they use it for? In April, they went for a loan of Ghc5 billion and did they use that for road construction or maize cultivation? In May, they went for ghc5 billion loan and so in 5 months ghc15 billion debts have been accumulated,” he indicated.

“They claim they will not take loan recklessly and so they should tell us what exactly they used the loans for? Dr. Bawumia says they are borrowing responsibly then Ghanaians should pray hard because if Ghc15 billion loan in 5 months is responsible borrowing then I don’t know what will happen if they start to borrow recklessly. I am sure Ghana will survive reckless borrowing under Bawumia,” he slammed.

He asserted that some ministers in Akufo-Addo’s government are stranded and lurching in the castle without offices and vehicles to carry out their duties; reiterating that nothing is moving in the country.

“They claim to be borrowing responsibly and yet there is nothing to show for the loans they have taken. Dr. Bawumia’s responsible borrowing therefore is dangerous than Mahama’s administration reckless borrowing,” he jabbed.