Parliament approves controversial $750m Afreximbank loan

Parliament has approved the controversial $750 million Afreximbank loan following a U-turn by the Minority.

This follows a plea from Finance Minister, Ken Ofori-Atta to members of the Finance Committee that the country will go bankrupt without the facility.

The Minority had shot down the two separate loan agreements amounting to a billion dollars raising concerns, especially about the $50 million insurance for the $250 million facility.

Speaking to the report of the Finance Committee on the floor of Parliament for the approval of the 750 million, the Minority stated that they will have to approve the loan save the nation though the facility will compound Ghana’s already precarious debt situation.

Majority MPs however argued the facility is for a good course such as infrastructural development.

They also refuted assertions that President Addo-Addo’s administration has run down the economy thus the situation the country finds itself in

In responding to the Majority side, the Minority leader, Haruna Iddrisu once again asked the government to stop the blame game and accept responsibility for the economic crisis the country is in.

He added the facility part of which will be used for roads in Suame is to stop attacks on MP for the area and his majority counterpart Osei Kyei-Mensah-Bonsu.

The Suame MP and minister for Parliamentary Affairs however refuted the claim the recent attacks on him by constituents got the government to quickly present separate facilities including this one for the construction of roads in his constituency.

CLICK HERE TO DOWNLOAD PRESS RADIO MOBILE APP

Kyei-Mensah-Bonsu also refuted claims from minority some of the projects listed for the 750 million dollars facility have already had funds approved for them by parliament.