Richard Acheampong, a member of the Finance Committee in Parliament, has accused the Majority caucus of using the absence of Minority members to approve certain loans.
The Bia East Member of Parliament (MP) stated that the Majority caucus awaited his party's departure for impending election campaigning before recalling parliament for loan approval.
"I am stating for the record that the loans that were authorized in parliament on Tuesday were loans that had already been referred to and approved by the finance committee. However, disagreements prevented the loans from being presented to the floor for a vote.
"Because the NPP lacked the necessary numbers, they waited for us to begin our campaigns for the upcoming primaries next week before initiating the recall," he explained.
The lawmaker explained that the Finance Committee approved the loans because the Majority caucus outnumbered the Minority caucus.
"The committee report indicates that it was a majority decision, implying that the minority caucus does not support the government's decision to accept such loans during these difficult economic times and in light of Ghana's enormous debt.
"On the finance committee, there are 13 members of the majority caucus and 12 members of the minority. The 13 granted the government approval to pursue the loans, while the 12 dissented. In light of this, the committee informed the House that it is a majority decision and not a consensus. If we had all concurred, the report would have stated that the committee recommended approval of its report by consensus," he explained on Accra's Neat FM.
Aside from Ghana's enormous debt, Mr. Acheampong stated that his side disapproved of the loans due to unresolved issues involving the government's mismanagement of Covid-19 funds and fund diversion as detailed in the Auditor General's reports.
"We have not resolved the issues pertaining to the Covid-19 expenditures and discrepancies in the Auditor-General's report. What assurance do you have that the money will be used for its intended purpose if you were unable to provide an accurate account of how it was spent?"
"Covid is no longer as serious locally and globally, so how can you apply for a loan in the name of Covid when you need foreign currency to replenish your depleted forex reserves? Government is dishonest with Ghanaians, knowing full well that there is no Covid emergency for us to address."
Parliament authorized seven separate loan agreements totaling $780 million for various interventions on May 2, 2023.
It has been suggested that Ghana's debt stock, which hovers around 600 billion cedis, is crucial to the country's current economic crisis.
Dr. Cassiel Ato Forson, however, believes that the number of loan agreements that continue to be presented to the House is not deserving of approval and can be avoided.
Former Minority Leader Haruna Iddrisu also advocated for the immediate implementation of a debt ceiling to prevent excessive government borrowing.