{"id":641209,"date":"2019-06-20T11:16:26","date_gmt":"2019-06-20T11:16:26","guid":{"rendered":"<br><div>\n\t\t\n\n\n\n\n<p>There was a heated debate in Parliament yesterday on debt\naccumulation by the John Mahama\u2019s previous administration and the current\nAkufo-Addo\u2019s administration when the chairman of the Finance Committee, Dr Mark\nAssibey-Yeboah, present"},"modified":"2019-06-20T11:16:26","modified_gmt":"2019-06-20T11:16:26","slug":"mps-fight-over-public-debt-in-parliament","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/06\/20\/mps-fight-over-public-debt-in-parliament\/","title":{"rendered":"MPs \u2018Fight\u2019 Over Public Debt In Parliament"},"content":{"rendered":"<p><\/p>\n<div>\n<p>There was a heated debate in Parliament yesterday on debt<br \/>\naccumulation by the John Mahama\u2019s previous administration and the current<br \/>\nAkufo-Addo\u2019s administration when the chairman of the Finance Committee, Dr Mark<br \/>\nAssibey-Yeboah, presented the annual public debt report for the 2018 financial<br \/>\nyear for adoption.<\/p>\n<p>The Minority National Democratic Congress (NDC) in Parliament led<br \/>\nby the ranking member on the Finance Committee, Ato Forson, said considering the<br \/>\nrate at which the present government is borrowing from the international market,<br \/>\nservicing of the debt would have serious repercussions on the economy.<\/p>\n<p>According to him, revenue and exports are declining under NPP government<br \/>\nso it would be difficult to service Ghana\u2019s rising debt.<\/p>\n<p>The ranking member said in 2018 alone the NPP borrowed GH\u00a225<br \/>\nbillion.<\/p>\n<p>He said in two and half years of the Akufo-Addo government, the<br \/>\ngovernment has officially added GH\u00a280 billion to Ghana\u2019s total debt of GH\u00a2122<br \/>\nbillion inherited from the NDC government but in actual fact the Akufo-Addo<br \/>\ngovernment has borrowed additional GH\u00a240 billion within the same period which<br \/>\nhas not been drawn down or added to the official debt stock.<\/p>\n<p>The minority members said there is nothing significant to show for<br \/>\nall these debts by this government.\u00a0 <\/p>\n<p>The chairman of the Finance Committee, Dr Assibey-Yeboah, said<br \/>\nthat under NPP government debt to GDP ratio has reduced significantly which<br \/>\nmeans that the NPP government is not doing reckless borrowing as was the case<br \/>\nunder the NDC government.<\/p>\n<p>According to the chairman of the Finance Committee, in 2018, the<br \/>\nNPP government took several measures to ensure efficient and effective<br \/>\nmanagement of public debt in line with the debt management strategy of the<br \/>\ngovernment.<\/p>\n<p>He said the cleaning of the financial sector which resulted in the<br \/>\nconsolidation of five local banks and closure of two banks added a whopping GH\u00a29.8<br \/>\nbillion to the public debt under this government because the government through<br \/>\nBank of Ghana issued the GH\u00a29.8 billion of bonds to protect depositors of these<br \/>\nbanks.<\/p>\n<p>The Minister of Information and a member of the Finance Committee of Parliament said that GH\u00a280 billion that the minority is claiming the government has added to the public is made up of loans borrowed by the NDC government in 2016 which had not been drawn down and so the NPP government cannot be accused of being the only government to have added the GH\u00a280 billion to the public debt. <\/p>\n<p><strong>By Thomas Fosu Jnr <\/strong><\/p>\n<\/p><\/div>\n<p>\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<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There was a heated debate in Parliament yesterday on debt accumulation by the John Mahama\u2019s previous administration and the current Akufo-Addo\u2019s administration when the chairman of the Finance Committee, Dr Mark Assibey-Yeboah, presented the annual public debt report for the 2018 financial year for adoption. The Minority National Democratic Congress (NDC) in Parliament led by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":641211,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-641209","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MPs \u2018Fight\u2019 Over Public Debt In Parliament - 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\/06\/20\/mps-fight-over-public-debt-in-parliament\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"MPs \u2018Fight\u2019 Over Public Debt In Parliament - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"There was a heated debate in Parliament yesterday on debt accumulation by the John Mahama\u2019s previous administration and the current Akufo-Addo\u2019s administration when the chairman of the Finance Committee, Dr Mark Assibey-Yeboah, presented the annual public debt report for the 2018 financial year for adoption. 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