Tue, 23 Apr 2024 Politics

Akufo-Addo has moved Ghana from 'Beyond Aid' to ‘Beyond Borrowing’ — Haruna Idrisu

Haruna Idrisu, former Minority Leader and MP for Tamale SouthHaruna Idrisu, former Minority Leader and MP for Tamale South
23 APR 2024 LISTEN

A former Minority Leader and Member of Parliament for Tamale South, Haruna Idrisu has accused President Nana Akufo-Addo of moving Ghana from its goal of achieving self-reliance beyond aid to a situation of uncontrolled borrowing.

In an interview with JoyNews during a campaign event for the National Democratic Congress (NDC) in the Upper West Region on Monday, April 22, Haruna Idrisu said the reckless borrowing under the Akufo-Addo administration has left Ghana 'Beyond Borrowing.'

"We are quite satisfied with the performance of the NDC in the Upper West Region. At least we didn't borrow as recklessly as they have - 60 billion against 120 billion; a debt to GDP ratio which is unprecedented," he said.

"So, Nana Addo Dankwa and Dr. Bawumia have only moved Ghana from 'Ghana Beyond Aid' to 'Ghana Beyond Borrowing.' They can't borrow again themselves and they are making it impossible for the country to rely on external borrowing to finance the budget and deal with the deficit," the MP added.

With the current economic situation, the NDC legislator expressed optimism that the opposition party is in a better position to win the 2024 general elections.

"(We are going to win) because we stand strong on the side of morality, on the side of truth and we are proud of our legacy as a party and government in the past, with President John Dramani Mahama as the 4th President of the 4th Republic and our candidate for the 2024 presidential and parliamentary elections,” he said.

President Akufo-Addo promised in 2017 to lead Ghana to a stage of self-reliance and sustainable development beyond foreign aid.

However, the NDC claims the current government's excessive borrowing has ballooned the debt stock and pushed Ghana's debt sustainability to dangerous levels, effectively moving the country from 'Beyond Aid' to a situation where it can no longer access money markets.

Isaac Donkor Distinguished
Isaac Donkor Distinguished

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