The Transport Minister has questioned the opposition New Patriotic Party’s (NPP) lack of foresight in appreciating the various investments President John Mahama has undertaken and mistaken them for debts.
Fifi Kwetey says the National Democratic Congress (NDC) has a remarkable record of using foreign debt to advance solid investments.
He explained that the NDC government, led by President John Mahama is harnessing a bright future and fueling national development with the foreign loans.
Speaking at a Forum for “Setting the records straight” series at the party’s headquarters in Accra Thursday, he questioned the NPP’s knowledge about debt servicing, citing how they [NPP] wasted an international loan facility of $750 million in 2007.
“For us in the NDC, foreign loans are meant for investment. Most likely, because the NPP was so wasteful with foreign loans, the party wrongly assumes the NDC has the same defect. No! We in the NDC have a great track record of using foreign debts to invest in solid investments,” he added.
The gas processing plant, the Kwame Nkrumah interchange, Kpong Water Project, Tamale Airport upgrade, University of Ghana 650-bed hospital, and the Tema Port project were some of the few infrastructural projects he mentioned.
He said President John Mahama and his National Democratic Congress (NDC) is building a bright future with foreign loans that the NPP was wasteful with.
The President, he added, has invested in both the infrastructural as well as the human development of Ghanaians citing numerous projects he said are legacies of the works of a visionary party.
“For us in the NDC, foreign loans are meant for investment,” he said adding the NDC is investing in projects and not piling up debts as the NPP would make believe.
According to him from 2001 to 2008, the NPP accumulated a total debt stock GH¢56.9 billion, “taking it from Gh¢9.7 billion in 2008. NPP, therefore, had access to 4.3 times more loan financing than NDC 1 under Jerry Rawlings.”
This notwithstanding he said the NDC 1 overshadows the NPP in virtually all critical infrastructural development.
“NDC built 3 regional hospitals against zero by the non-performing NPP. NDC within that period can also boast of a couple of public universities against zero by the NPP,” he added.
Source: Ghana | Myjoyonline.com