Member of Parliament for Bolgatanga Central, Isaac Adongo<\/span><\/span><\/p>\n<\/div>\nA member of the National Democratic Congress economic and finance team, Isaac Adongo, has criticised the level of borrowing by the government, indicating a chunk of the current 3 billion dollar-eurobond secured will end up in people\u2019s pocket.<\/p>\n
He stated the era where government borrowed to undertake infrastructural development for the benefit of the people was over as the Akufo-Addo government has moved shifted the gear into borrowing to consume.<\/p>\n
Delivery a public lecture on what they NDC deemed to be the true picture of the economy, Mr Adongo posited \u201c\u201dWe cannot go on the path of building up debt and not having anything to show for it\u201d<\/p>\n
\u201cIf you take 2019; the 3 billion [dollar] they borrowed 2 billion [dollars] is for the budget, only 390 million [dollars] will be spent on capital expenditure. 1.61 billion dollars will go into family and friends,\u201d he claimed.<\/p>\n
Already, he said they have started consuming the money on kenkey and fish party under the guise of celebrating economic hat-trick.<\/p>\n
He expressed regrets that the today\u2019s children who will be the ones to pay for this bond in the next 29 years, will have nothing to show for it.<\/p>\n
\u201cGhana has moved from an era where we were borrowing to build into our future,\u201d he observed.<\/p>\n
Mr Adongo who is a member a member of the Finance Committee of Parliament indicated that of the 750 million dollars borrowed by the Akufo-Addo government in 2018, only 119 million dollars was spent on capital expenditure while a whopping 631 million dollars went into consumption.<\/p>\n
\u201cWhen we were borrowing to create prosperity for children yet unborn, when we were borrowing to build the ridge hospital they said we were incompetent, when we borrowed to build terminal three they said we were incompetent when we borrowed to build regional hospitals in the country they said we were incompetent. Now that they are borrowing to pay for kenkey and fish, what will it be?,\u201d he asked.<\/p>\n
Describing the borrowing to consume approach of the current government as \u201cdisturbing,\u201d the financial consultant asked Ghanaians to \u201cwake up\u201d because that approach cannot be sustained.<\/p>\n<\/div>\n
\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"General News of Thursday, 4 April 2019 Source: 3news.com 2019-04-04 Member of Parliament for Bolgatanga Central, Isaac Adongo A member of the National Democratic Congress economic and finance team, Isaac Adongo, has criticised the level of borrowing by the government, indicating a chunk of the current 3 billion dollar-eurobond secured will end up in people\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":600282,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-605166","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n
\u2018Family and friends\u2019 will pocket $1.61bn of Ghana\u2019s eurobond \u2013 Adongo - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/04\/05\/family-and-friends-will-pocket-1-61bn-of-ghanas-eurobond-adongo\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"\u2018Family and friends\u2019 will pocket $1.61bn of Ghana\u2019s eurobond \u2013 Adongo - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"General News of Thursday, 4 April 2019 Source: 3news.com 2019-04-04 Member of Parliament for Bolgatanga Central, Isaac Adongo A member of the National Democratic Congress economic and finance team, Isaac Adongo, has criticised the level of borrowing by the government, indicating a chunk of the current 3 billion dollar-eurobond secured will end up in people\u2019s […]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/05\\\/family-and-friends-will-pocket-1-61bn-of-ghanas-eurobond-adongo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/05\\\/family-and-friends-will-pocket-1-61bn-of-ghanas-eurobond-adongo\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"\u2018Family and friends\u2019 will pocket $1.61bn of Ghana\u2019s eurobond \u2013 Adongo\",\"datePublished\":\"2019-04-05T01:33:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/05\\\/family-and-friends-will-pocket-1-61bn-of-ghanas-eurobond-adongo\\\/\"},\"wordCount\":374,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/05\\\/family-and-friends-will-pocket-1-61bn-of-ghanas-eurobond-adongo\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/05\\\/family-and-friends-will-pocket-1-61bn-of-ghanas-eurobond-adongo\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/05\\\/family-and-friends-will-pocket-1-61bn-of-ghanas-eurobond-adongo\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/05\\\/family-and-friends-will-pocket-1-61bn-of-ghanas-eurobond-adongo\\\/\",\"name\":\"\u2018Family and friends\u2019 will pocket $1.61bn of Ghana\u2019s eurobond \u2013 Adongo - 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![\"Isaac](\"https:\/\/cdn.ghanamma.com\/2019\/03\/98962100.295.jpg\" "\\"Isaac")
Member of Parliament for Bolgatanga Central, Isaac Adongo<\/span><\/span><\/p>\n<\/div>\n