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Parliament needs to move from being a loan approving house – Dr Adongo

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Development Economist, Dr Micheal Ayamga Adongo has admonished parliament to move from being a debt approving house to a debt and loan sealing entity.

According to Dr Adongo the parliament of Ghana needs to move away from its long practice of being a loan approving house to a debt and loan oversight entity.

Dr Adongo was speaking in an interview on Day Break Upper East show on A1 Radio on July 27, 2021 said, there is the need for parliament to set a debt sealing for government and anytime there is the need for such a seal to be raised to cater for an important national programme, it can be taken to parliament for approval.

This he believes, will force government to know at the beginning of the financial year how much it can borrow and the rest of the money for development will have to come from areas such as production, foreign earnings and internally revenue generation efforts.

Dr Adongo chided parliament for approving every loan facility from the executive and turn around to blame government for over borrowing.

“I can’t remember the last time that a loan has passed through parliament without it been passed based on party lines, the last three or four loans has been passed based on party lines, so when you do this and turn around to blame government for over borrowing is a problem”, he reiterated.

He further said the deputy minister of finance, John Kumah’s response to the minority over the looming economic crises is like “is like a woman in a polygamous marriage nagging about not being treated fairly” because the deputy finance minister was not addressing why he thinks the nation will not get to such an economic crisis.

Source: A1Radioonline.com |101.1MHz| Agana Blaise| Ghana

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