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“We Borrow to Service NDC Debt”

…MP Justifies Gov’t Borrowings


The New Patriotic Party (NPP) Member of Parliament for Bantama in the Ashanti region, Daniel Okyem Aboagye has justified the borrowings of the Nana Akufo Addo-led government.

According to him it is imperative for the NPP government to borrow to service the huge debt the Mahama-led NDC government left behind.

Okyem Aboagye who was speaking on a UTV Programme, recently said warned the member of the opposion NDC party not to criticize the NPP’s administration for borrowing to support the economy.

“President Nana Akufo-Addo’s government inherited a huge debt and so we are forced to borrow to service the debt”, he said “as a good government, we also use part of the borrowed money for projects”, he said.

The Bantama Lawmaker accuse the NDC administration for enrichening themselves with borrowed monies instead of using them to develop the country’s economy.

“The NDC borrowed from left, right and center like nobody’s business when they were in political power and they failed to use the borrowed monies for ventures, which has the potential of improving the lives of the ordinary Ghanaian”, he said.

Mr. Okyem Aboagye said unlike the recent- past NDC government, the competent President, Nana Akufo-Addo has instituted mechanisms to make it possible for some of the borrowed money to be directed into infrastructural projects for the peoples’ benefit.

NDC’s Huge Debt

The vice president Dr. Mahamudu Bawumia during the electioneering campaign in December 2016 election said the erstwhile Mahama-led NDC administration borrowed some $39 billion in the last eight years that it was in power.

He said some 66 percent of Ghana’s debt…GH¢69 billion of it, was accumulated under the presidency of John Dramani Mahama, increasing Ghana’s debt to GDP ratio from 32% in 2008 to 72% at the end of 2015, adding “the real effects of the reckless borrowing undertaken in the last seven years is seen in the magnitude of interest payments.”

By: Afia Sarpong Amankwa

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