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Loans Contracted By NDC Are Project-Related...NPP Should Make Sensible Criticism
 
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28-Feb-2013  
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Tony Aidoo, Head of Policy Monitoring and Evaluation unit at the presidency says loans that were acquired by the Mills-Mahama administration were all project-related.

This is in response to an accusation from the New Patriotic Party (NPP) that the country’s debt burden has increased since the NDC administration took over office in 2008.

In what they call a ‘true state of the Nation’s address’, the NPP led by the Minority leader, Osei Kyei-Mensa-Bonsu said; “The Mills-Mahama administration inherited a total public debt of US$8 billion (paragraph 94 of 2009 budget statement), the equivalent of GH˘9.5 billion at the beginning of 2009. Within just 4 years, this debt has escalated to GH˘33.5 billion. It means every year, from 2009 to 2012, the NDC led government added GHC 6billion to our public debt, 55% of which was borrowed locally”.

Interacting with Shamima Muslim on Citi Eye Witness news on Wednesday, the kingpin of the National Democratic Congress (NDC) said unless the NPP has evidence to prove that the loans that have been contracted so far were not used for projects, their argument is ‘senseless’.

“Every money that the Mills-Mahama administration borrowed was project related borrowing. If they can show evidence to the contrary, then I will say they are making sensible criticisms. Anybody criticising the government must provide details…then we will say that they are making sensible criticisms…”

According to him, ‘a considerable amount of the national debt burden has still not been disbursed’ and this includes the 3 billion Chinese loan from the China Development Bank.

“Let the critics bring out the details of the borrowing and the purposes for which the money was borrowed. Every loan passed through parliament and they (the minority) took active part in it. At which point did they realise objections against the loan...Most of the statement that is being made regarding the public debt unfortunately turns to be banal without any details…” he intimated.
 
 
 
Source: Rebecca Addo-Tetteh/peacefmonline.com
 
 

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