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We implacably opposed new loans – Minority


The Minority in Parliament says it opposed the three new loans approved by Parliament recently.

According to the caucus, it did not give its blessings to the new loans and thus they were not approved unanimously.

The Minority Chief Whip, Governs Kwame Agbodza thus wants the public to disregard assertions that they supported the approval of the new loans.

Mr Agbodza added that they will not support any new loan approvals for the government until the government’s reckless borrowings is brought under control.

“Let it be placed on record that the Minority was implacably opposed to these loans coming at a time our nation has defaulted on both domestic and external debt servicing and is struggling to secure an IMF program due to our debt overhang.

“Indeed, we took turns to express our opposition, and still stand firmly in our conviction that only an irresponsible and unpatriotic Majority Group will support any additional borrowing of the Akufo-Addo/Bawumia NPP government that has defaulted on our debt repayments. Such recklessness will truly find expression in the Guinness Book of Records,” he said in a Facebook post.

Parliament on Tuesday approved an amount of $150 million dollars for the financing of the West Africa Food System Resilience Programme phase 2 under the Multi-phase programmatic approach.

Parliament also approved an on-lending agreement between the government and the Development Bank Ghana for an amount of £170 million Euros to support the establishment of a financially sustainable development Bank.

The House also approved a loan agreement between the government of Ghana and the World Bank for an amount of $200 million to finance the Ghana Digital Acceleration Project.

However, some New Patriotic Party (NPP) MPs have said the loans were approved unanimously.

This is what has compelled the Minority Chief Whip to issue this the rebuttal.

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