The flag bearer of the National Democratic Congress (NDC), John Dramani Mahama has accused the Akufo-Addo government of “mortgaging the future of this country for today’s spending.”
In a Facebook live session on Thursday, the former President stated the current administration has utilised most of the country’s natural resources that can be exploited for development, as collaterals for loans.
“Look at GETFund [Ghana Education Trust Fund], they are mortgaging the receipts for the next 10 years or so. And this means that in future there will be no GETFund revenue to look at. They are looking at taking our 10% reserve in gold investment and our royalties and mortgaging it and taking loans against it,” he said.
”That is the danger that we have,” he added.
According to Mr Mahama, every physical space that can be leveraged and put into useful production is being mortgaged by the incumbent government.
President Akufo-Addo in his 2016 campaign, promised not to take loans in order to reduce the financial debt the country had accumulated over the years.
However, the former President has described as the ‘greatest political con Ghanaians have ever been subjected to,” after he accused his successor of failing to live by that promise.
He challenged the government to present the capital expenditure and infrastructure it has undertaken with the loans it secured since it took over power in January 2017.
“But the point is, whatever borrowing we did in my time, you could see the investment into which it was being put; you could see the infrastructure, you could see the roads, electricity, the water.
“I mean GH?98billion down the line, show me what is there in capital expenditure and infrastructure. Show me one hospital, show me the roads, show me a new secondary school, show me a new water system,” he challenged.