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Parliament Finance Committee Member Daniel Okyem Aboagye says the amount of GH ₵ 258.8 billion loaned by the Akufo-Addo-led government in June 2020 was to pay off debts accumulated by John’s former administration. Mahama.
Aboagye criticized the NDC government for falling into costly debt and underperforming during the IMF’s April 2015 report.
“Ghanaians pay £ 12 billion for excess capacity that we don’t need and you come in and ask us what we are doing with the money, we are using it to clear your mess,
“So when you see us borrowing, we are borrowing to profile your debt, we borrow cheaper to pay off your expensive debt,” he said.
Speaking on the JoyNews PM Express with host Evan Mensah, Mr. Aboagye, who is also the NPP MP for Bantama Constituency, described the management of the economy by the Mahama-led administration and the opposition NDC as bad .
According to him, the NDC could not win the trust of the banks, so it was made to borrow at higher interest rates, unlike the NPP.
“The NDC borrowed from UBA using the highway fund at a rate of 32% when we came to power, we refinanced it into Commercial Bank and Fidelity Bank at a rate of 21%,
“In 2014, the NDC raised $ 1 billion in funds at a rate of 8.125%. In 2018, we raised the same money at 7.6%, ”he said.
According to him, if the NDC had managed the economy well, all the borrowed funds would have been used for better projects.
