Cocoa trees in Ghana owe 600 million dollars … | Politics

The Akufo-Addo government has indebted Ghana’s cocoa trees to the tune of $ 600 million, opposition lawmaker Eric Opoku said.

The Asunafo South constituency deputy told Accra-based Asempa FM that: “For the first time in Ghana’s cocoa history, the government of the nuclear power plant has used Ghana’s cocoa to buy $ 600 million. to plant cocoa trees to replace dead trees. “

“There is a two-year moratorium on that loan,” Opoku said.

After the grace period, “Ghana will use seven years to pay off that loan,” he said.

“So that means that even our cacao trees owe $ 600 million,” thanks to the government of President Akufo-Addo.

In addition to the Akufo-Addo government borrowing the cocoa trees, Opoku also said that the incumbent administration “has guaranteed the income accumulated in the Ghana Education Trust Fund (GETfund) for 10 years for a loan of 1.5 billion euros. Dollars”.

“So, over the next 10 years, 60 percent of the GETfund will be used to pay off that $ 1.5 billion debt.

“This takes away from the education sector much needed funds to solve the problems in the education sector,” he said.

Despite the $ 1.5 billion loan for which the GETfund accruals have been guaranteed, Opoku said the current administration has failed to even build a single high school or university in the past four years.

Once again, he noted that the Akufo-Addo government has used Ghana’s bauxite to obtain a $ 2 billion loan from China – the Sinohydro deal.

In his view, the government has mortgaged Ghana’s bauxite resources through the deal, which means that “there will be no bauxite for the next generation.”