Ghana’s former Ambassador to Netherlands, Dr Tony Aidoo has descended heavily on the Akufo-Addo government for its insatiable taste for loans.
The maverick politician and member of the opposition National Democratic Congress (NDC) referred to as a “viscious cycle” the borrowing and debt servicing strategy by the Akufo-Addo-Bawumia administration that promised Ghanaians not to borrow to build the country.
Speaking to host Kwame Minkah on Power FM’s Dwaboase programme Tuesday, Dr Aidoo who has observed the trend of events under the New Patriotic Party (NPP) administration warned the country was heading in the wrong direction since the current leadership has failed to embark on investment projects that will directly affect the Ghanaians people.
“When I was a member of [the late] President Mills’ cabinet, I used to tell him that our rate of borrowing is too high. But then there was a rational basis to the NDC’s borrowing. Most of them went into investment projects. Like the establishment of the gas sector. That was what we called smart borrowing,” Dr Aido recounted.
The former Head of the Policy Evaluation and Oversight Unit of the Office of late President Atta Mills from 2009 to 2013 also noted the John Mahama administration did well by injecting loans to ” impressive infrastructural development.”
He went on to say “John Mahama too borrowed for impressive infrastructural development like hospitals, schools, roads and so on. But this current administration over the past 5 years, what has the borrowing been used for? ”