‘Akufo-Addo is most reckless borrower Ghana has ever seen’ – Rashid Pelpuo

The Member of Parliament for Wa Central, Dr Abdul-Rashid Pelpuo has taken a swipe on the Akufo-Addo administration for engaging in what he describes as “reckless borrowing” that is leading the country nowhere.

It is believed the Akufo-Addo-led administration has already borrowed to the tune of almost GHS50 billion in less than two years since it took power.

Dr Pelpuowho is also the Ranking Member on Parliament’s Government Assurances Committee says he weeps for the country, taking into consideration how the New Patriotic Party (NPP) government is taking loans at a faster pace without any meaningful developmental projects to show for the loans.

Speaking on Inside Politics on Radio XYZ 93.1 Thursday, November 1, 2018, the former Sports Minister said the government has taken more loans but the effects of the loans cannot be traced in the country, yet some elements in government keeps criticizing the erstwhile Mahama administration for taking a lot of loans.

Double Standards

It will be recalled that the then flag bearer of the New Patriotic Party (NPP), Nana Akufo-Addo, in 2016 heavily criticized Mr John Mahama who was then the president for borrowing recklessly, with a pledge that when voted to power, he would not depend on taking loans.

 

President Nana Akufo-Addo

But Dr Pelpuo, who believes the NPP government is engaging in double standards, said it is rather the Akufo-Addo government that take loans recklessly without any caution.

Explaining what the NDC government did with their loans, the MP said: “…with this 37 billion [NDC borrowed] we know what has happened. Roads, schools, hospitals universities, airports. Everywhere littered with projects… He [President Akufo-Addo] has borrowed more than that 37 billion. Show me one project they have done with that,” he said.

“They are coming back to Parliament and they are asking 500 million dollars again. They said they want to do some projects and Parliament approved it. When people ask what they have done with their 45 billion they have b borrowed, they have no answer,” he told Mugabe Maase.

Dr Rashid Pelpuo’s comments come on the back of President Akufo-Addo’s u-turn position on borrowing.

Recently, President Akufo-Addo who was speaking at the Tony Elumelu Foundation Entrepreneurship Forum in Lagos, Nigeria, went contrary to his stance on borrowing, saying taking loans was not a bad act.

“Borrowing money is not aid, what President Xi Jinping offered is a $60 billion fund which Africa countries can assess, not as aid but loans. If you can produce a project which the Chinese think it is worth supporting you can have access to such money and you have to pay it back. We’ll borrow money, everybody borrows money” he said when asked whether there was no contradiction between one of his popular mantras ‘Ghana Beyond Aid’ and borrowing from the Chinese which seems to be his government’s new found love.

“The facility from the President of China is a fund that African countries can access and use to support their infrastructure development, that cannot be aid because it’s for a purpose and we have accepted it because of the business potential of our nations,” he said.

NDC’s Loans Justifiable

As a former presidential staffer, Dr Pelpuo said the loans the previous National Democratic Congress (NDC) took were for a good cause.

He mentioned the Terminal 3 at the Kotoka International Airport, the numerous hospitals the Mahama administration built as well as roads which can be seen as a few projects the previous government spent the loans on.

“Let me tell you, this is the most reckless borrowing spree we have ecer seen in the history of Ghana,” he stated, chastising the government for borrowing more in less than two years and doing virtually nothing.

“We can say we have built ABCD with the money. What has they built with more than the money we borrowed?” he quizzed.

He went on to urge Ghanaians to vote against the NPP government and bring back the NDC to power to continue with its projects that will transform the economy.

 

By: Henryson Okrah/myxyzonline.com