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Ghana News

$170 Million Loans Approved by Parliament – NPP Member Defends Government’s Borrowing Habit

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The approval of $710 million loans by Parliament has sparked controversy among Ghanaians. While many citizens are unhappy with the government’s borrowing habit, George Ayisi, a member of the communications team of the New Patriotic Party (NPP), believes the loans will help the government focus on solving national issues.

According to Mr. Ayisi, there are times when a little push is necessary to stabilize the country’s economy, and the loans will enable the government to invest in areas that will generate significant returns.

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However, Bernard Oduro, a member of the NDC, opposed Mr. Ayisi’s statement, saying that going into debt is not always the best solution from a financial economy point of view.

In response, Mr. Ayisi disagreed with Mr. Oduro and defended the government’s borrowing habit. He insisted that the government’s investment in certain areas will yield phenomenal returns.

For the most part, Ghanaians are concerned about the country’s increasing debt stock, which has reached a worrying level. Many are worried that the government’s borrowing habit will have negative consequences for future generations.

Despite these concerns, the government believes that borrowing is necessary to address the country’s infrastructure deficit and create jobs. The government has promised to ensure that the loans are used for the intended purposes and will not burden taxpayers.

Parliament’s approval of the loans has caused a stir among Ghanaians, especially as fifteen minority members were absent during the emergency sitting. Many are questioning the transparency and accountability of the process, and the need for urgent borrowing.

In conclusion, while borrowing may be necessary in some situations, the government must exercise prudence and accountability in managing the country’s finances to avoid burdening future generations.

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