Gov’t has not borrowed $27 billion – Ofosu Kwakye tells NPP

Felix Kwakye New NewA Deputy Minister for Communications, Felix Kwakye Ofosu, has debunked the New Patriotic Party’s claim that the government has borrowed $27 billion in six years.

According to him, the actual figure that has been borrowed by the National Democratic Congress (NDC) administration in the last six years is $13.6 billion.

Ofosu Kwakye also rejected the assertion that the government spent only $3.5 billion of the borrowed money for infrastructural development.

Posting on his Facebook wall Thursday, the deputy minister said there were records at Parliament which detailed the projects the loans were used for.

Read his comment below:

“For the avoidance of doubt,the total debt stock as of September 2014 was US $21.733 billion. This represents our debt since Independence. The NPP government left a total of US$8.1 billion as of January 2009 when they were leaving office.This means that since 2009 Government has added US$13.6 billion to our debt stock.

How then can the Minority claim that we have borrowed US $27 billion in six years?

Also their claim that the total amount of money that has gone into projects is US $ 3.5 billion beggars belief. More so when they have a list of all loan agreements brought to Parliament for approval. These agreements state clearly what the loans will be used for.”

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