- The Minority in parliament has vowed to block further loan agreements from the Akufo-Addo-led government
- The NDC MPs say Ghana's worsening debt situation has made them take that posture
- MP for Asuogyaman, Thomas Ampem Nyarko, made this known after the opposition MPs blocked two loan agreements
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Members of the Minority caucus have served notice of their intention to block additional loan agreements from the Akufo-Addo-led government.
This comes after the NDC MPs blocked loan agreements to the tune of $500 million that were before the Finance Committee of the house for consideration.
Ghana's Debt: Minority Warns It Will Reject Future Loan Agreements From Akufo-Addo Government
The opposition MPs say their reason for blocking such agreements stems from Ghana's worsening debt situation.
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Speaking to the parliamentary press corps on Tuesday, November 22, 2022, MP for Asuogyaman, Thomas Ampem Nyarko, said they won't approve additional loan agreements.
"We have taken a very simple decision that looking at our debt situation we are unable to support further approvals for further loans because believe that if you are in a hole you don't continue to dig further," he said.
Ghana's Debt: Minority Calls On Government To Provide Clear Path On Taking Government Out Of Current Debt Situation
He, however, called on the embattled Minister of Finance to present a clear path to take the country out of the debt quagmire.
Ghana's Public Debt To GDP Is About 100%; It Is Simply Unsustainable – Ato Forson Sounds The Alarm Bells
Earlier, YEN.com.gh reported that the Ranking Member of Parliament's Finance Committee, Dr Cassiel Ato Forson, had sounded the alarm bells on the country's debt-to-GDP ratio.
According to him, Ghana's public debt is about 100% of its GDP, which makes it highly unsustainable and scary.
Sounding the alarm bells in a Twitter post on Monday, September 26, 2022, the Ajumako-Enyan-Essiam MP said the country's debt situation is simply unsustainable, making debt restructuring unavoidable.
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