You are here: HomeNews2016 10 28Article 481637

Business News of Friday, 28 October 2016


NDC MPs lambast gov't over last minute loans

New Juaben North MP Dr. Mark Assibey Yeboah has criticized government for asking parliament to approve a 900 million dollar loan before the house rises next Friday.

He said given the time before the house rises, it makes no sense that government will contract loans for projects that cannot begin before the elections.

The loans are expected to fund the Accra urban transport project, Volivo bridge, UMaT, kommenda sugar factory, railway line, Kumasi Airport, Tamale Airport and audit service among others.

The 900 million dollars adds to the over 26 billion dollars the country owes in loans. The new Juaben lawmaker insists the action demonstrates the president's desire to just pile up debt on Ghanaians.

"I'm surprised all of these have come by executive approval, this means the president failed to even engage his team of experts in cabinet," Dr. Yeboah said.

"Most of these loans were signed by the president on Monday, brought to parliament on Tuesday and was referred to the committee on Wednesday and we are expected to approve them, can a thorough job be done?" The MP questioned.

Top on the list of loans is the 398 million dollars for the railway project.

Some members on the government side who spoke to Starr News correspondent in parliament on condition of anonymity said the timing of the loan is wrong.

"Look at the numbers in the house and the time left, why contract loans for projects you can't initiate before elections", the member said.

Join our Newsletter