Parliament approves $812million loan

Ghana’s parliament, in a three day emergency meeting, has approved loan facilities worth $812million for various infrastructural projects across the country.

These projects include the over $140million construction of the Kasoa interchange in the Central region, $170million for additional works around the Kwame Nkrumah Interchange in Accra and 45.8million for the Accra street resurfacing project.

The Minority were however not pleased with the outcome.

Deputy Minority leader Dominic Nitiwul insisted the Executive should have given parliament more time to examine the issues more critically because the sums were huge.

He was however assured by the Deputy Majority leader that the loans will used for what it was intended.

The Deputy Minority leader Dominic Nitiwul fears the work of parliament may not have been diligent enough.

Nonetheless, Speaker of the House Rt. Hon. Edward K. Doe Adjaho, tasked the select committees on Roads and finance to follow up on the executive’s use of the loans.

“It is the expectation that the select committees continue to perform their oversight responsibilities after the approval and I want to assure them that, I will give them all the support in that direction.” the Speaker said.

Ghana is currently in negotiations with the IMF for financial assistance whereas the country’s public debt hit 63.6billion by September 2014.