NDC MP slams Bawumia over 'reckless and scary' $15 billion loan from China

NDC MP slams Bawumia over 'reckless and scary' $15 billion loan from China

- Vice President Bawumia signed a deal with China for a loan of about $15 billion

-This has generated much controversy as many believe the deal could have implications for the anti-galamsey fight

- The NDC MP has reprimanded Vice President Bawumia for accepting a deal, that he had criticized during his time in opposition

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Vice President Bawumia's defense of the $15 billion loan from the China government has been condemned by the Bolgatanga Central parliamentary representative, Isaac Adongo.

NDC MP slams Bawumia over 'reckless and scary' $15 billion loan from China

Isaac Adongo

READ ALSO: Top NDC leader threatens to quit politics is Nana Addo manages to build 1 factory

According to the MP, the decision to accept the loan is a risk that would plummet Ghana further down the debt line, and worsen the current economic challenges facing the country.

Speaking on Citi FM, Mr. Adongo castigated Dr. Bawumia for signing the contract on Ghana's behalf, especially since he was a heavy critic of the previous Mahama administration, when they also accepted such loans.

Mr. Adongo argued that for Vice President Bawumia to demand praise for accepting a deal that could spell doom for Ghana's debt crisis, is a 'frightening, scary and reckless' move.

He shamed Dr. Bawumia who while in opposition criticized the Mahama government for 'recklessly' accepting a $1 billion Eurobond loan, while the current government has gone much higher in figures.

"In the 2017 budget by this government, the debt to GDP of 72% was vilified as the worst this country could ever have, now to add $19bn of an additional loan in such a short period will push our debt to GDP to the region of 120% and 130% of GDP. That is the worst that you can find in the world," the MP said.

Mr. Adongo's comments follow the announcement by the vice president of government's decision to sign a loan deal of $15 billion dollars from China to facilitate the one-district-one-factory project.

NDC MP slams Bawumia over 'reckless and scary' $15 billion loan from China

Despite the backlash the government has received over the deal, Vice President Bawumia has debunked any 'backdoor motives' behind the generous gesture from the Chinese government.

He explained it had nothing to do with the Anti-galamsey Initiative, and that this contract will in no way affect the fight against the illegal mining menace.

READ ALSO: I'll cause a stir in NPP; no party elder can stop me- Abronye DC gives ultimatum

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Source: Yen.com.gh

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