The government’s excessive borrowing has come under fire from the Minority in Parliament, with Minority Chief Whip Kwame Governs Agbodza leading the charge.
The Finance Ministry recently requested Parliament’s approval for a $250 million loan, designated for the Ghana Financial Stability Project.
During a session in Parliament, Agbodza expressed bewilderment at the government’s decision to request such a substantial loan while simultaneously seeking debt repayment extensions from creditors.
He criticized the government’s approach to borrowing, highlighting the detrimental impact of accumulating excessive debt.
Agbodza emphasized the urgent need for the government to address the country’s debt situation, cautioning that continued borrowing could lead to economic instability.
He urged the government to reconsider its borrowing practices and focus on sustainable financial strategies.
The Minority’s criticism reflects growing concerns over the government’s borrowing habits and its implications for Ghana’s economic future. As the debate over borrowing continues, it remains to be seen how the government will respond to the calls for fiscal responsibility.
