The Member of Parliament (MP) for Bolga Central Constituency and ranking member on finance , Isaac Adongo has described the $19 billion Chinese loan as a caricature that will haunt Ghanaians if care is not taken.
“Chinese loans are always work in progress because they will never reach a conclusion. They will not give you the money to embark on the projects themselves but will prefer to bring their own contractors to come and do the work for you. They will get other benefits either than what was agreed in the deal”, he revealed.
According to him, Vice President Dr Mahamudu Bawumia must be stopped from engaging in such reckless borrowing before he plunges the economy into a big mess.
Speaking on Accra-based Okay Fm, he revealed that Chinese loan agreements are always laced with hidden interests contrary to claims by the Vice President and the majority in parliament that the terms are known.
He observed that the Chinese government even though will honour the amount it is committing, it will find a different way of repatriating more than that back to China wondering where Ghana has gone wrong in allowing the current government to take over the helm of affairs.
“I am challenging you to keep tapes of whatever they are saying in defense today. They will say a different thing tomorrow. We will subject it to rigorous debate when it is brought before parliament”, he assured.
He stated that Ghana does not have the capacity to borrow nineteen billion dollar ($19 billion) and be able to service it over the next ten years.
Source: mynewsgh.com
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Borrow to develop is better than borrow to share and spend. The NDC has not learnt their lessons and continue to be in dilemma. Some of the MPs just want their voices to be heard.
This Adongo guy comes as someone with very foul mouth. His whole being smacks of arrogance and reckless talks. He is in the same category as the MP from Bongo. There must be something wrong with the 'go'
"A PESSIMIST SEES A DIFFICULTY IN EVERY OPPORTUNITY, AN OPTIMIST SEES AN OPPORTUNITY IN EVERY DIFFICULTY". The NDC is full of pessimists with cant do minds but with time they shall live to regret their pessimism. God save us from these charlatans.
So borrowing has suddenly become evil and reckless.I wonder if these ndc guys know how much the wasted on the huge amount of money they borrowed.I feel ashamed for ndc when they are criticizing borrowing eeeeeeii. We were in Ghana for eight years and we saw how you quadruple Ghana's debt without even proving what those monies were used for.I thank God that the way the electoral system is designed it will be very difficult for ndc to steal again. This time it's centered at the polling stations.Thats where the real show is.You better stop the dirty propaganda and do proper opposition work.Incompetent even in opposition
NOW, ITS BECOMING CLEAR TO EVERY GHANAIAN WHY THE N.D.C. WERE BOOTED OUT OF GOVERNMENT. PLS. N.D.C. MPS., COMMUNICATORS DO LEARN & UNDERSTAND HOW TO READ.
Isaac Adongo must be stopped from his reckless criticism. He passed similar reckless statements just before the budget was read.