The Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has rejected the decision of the government to continue borrowing.
This was after Parliament on Tuesday May 2 approved a total of $710 million in 5 loan agreements in an emergency sitting.
Despite a resistance from the Minority, the Majority side pushed over and had the facilities approved for expense by the executive.
Dr Kwakye tweeted “It is bizarre for bankrupt Ghana to continue to borrow, no matter the terms. Why don’t we look inwards to mobilize our own resources from revenues and natural resource wealth?”
It is bizarre for bankrupt Ghana to continue to borrow, no matter the terms. Why don't we look inwards to mobilize our own resources from revenues and natural resource wealth? #Let'sImpose60%CeilingOnOurDebt!
— J. K. Kwakye (@JohnKwabenaKwa1) May 2, 2023
The Minority Leader Dr Cassiel Ato Forson also said he was surprised that the government had the courage to take additional loans despite the concerns that had been raised against excessive borrowings.
He invited all Ghanaians to join the Minority in criticizing the government in order draw it onto the right path.
Speaking to TV3, Mr Ato Forson who is also Lamwaker for Ejumako Enyan Essiam said “I am surprised that the NPP government has the courage to take additional loans, we call on the people of Ghana to join the NDC minority in opposing the government.
“The Minority alone cannot do it, there are people in this country, they voted for the NPP yet they have left only for the NDC to criticize to point this government into the right leadership, I think that is sad. We call on Civil Society, well-meaning Ghanaians, academia to join the Minority.”