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Mahama left huge debt behind – Akufo-Addo

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President Nana Addo Dankwa Akufo-Addo has revealed that former President John Dramani Mahama left huge debt behind for him instead of money.

The President, who restated his earlier stance that the administration of the former President is to be blamed for the poor state of the Ghanaian economy, said: “I inherited a poor economy.”

President Akufo-Addo stated this on Thursday while rounding off his 2-day visit to the Brong Ahafo Region.

He said: “My predecessor did not leave me much money. What he, rather, left me was a lot of debt.

“Nonetheless, we are beginning to turn the fortunes of our country around, and we will find the money for the construction of the stadium and the completion of the University.”

Speaking on his resolve to accomodate different opinions from Ghanaians on national matters, the President said it was for that reason he invited his three predecessors to seek their views on certain governance and developmental related issues.

“They accepted my invitation and gave me invaluable advice. This will not be a ‘one-day-wonder’. It will be a feature of my administration.


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Contaminated fuel not yet in the market, NPA assures

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The National Petroleum Authority, NPA, has assured Ghanaians that the contaminated fuel the Bulk Oil Storage and Transportation Limited (BOST) sold to Movenpiina and subsequently to Zup Oil has not hit the market yet.

According to the Acting Chief Executive Officer of the NPA, Alhassan Tampuli, who gave the assurance, the Authority has no reason to believe that some of the contaminated products have ended up in any of the retail outlets.

“Our investigations and preliminary report also indicates that, we don’t have any reason to believe that anything has been put into the market. We are still monitoring.”

It would be recalled that the Minority caucus in Parliament had called for a thorough investigation into the sale of the contaminated fuel and an immediate withdrawal of the product from the market.

However, the NPA boss, while speaking on Okay FM, said: “As at now, we do not have any reason to believe that some of the contaminated products have ended up in any retail outlet. We want to send that message clear to the general public so that the fear and panic out there will be completely debunked.”

On the silence from the NPA on the matter, Tampuli said, the NPA as the regulator is doing its investigation before addressing Ghanaians on the issue with BOST, insisting that his organisation would be the last to speak inspite all the information already available in the public domain.

Speaking further, the NPA boss said with the investigation done so far, it was established that BOST Managing Director, Alfred Boateng sold 5 million litres of contaminated petroleum products to a private company called Movenpinaa.

He however maintained that the 5 million litres of product is still in the custody of BOST except for the 18 trucks that have been moved out; revealing that out of the 18 trucks, 8 of the trucks are still with BOST PD Terminal.

“According to our tracking machines, 10 trucks have moved to a location operated by Zup Oil. We went to Zup Oil premises and we have seen what they have and we have taken a sample and we are yet to confirm the sample. We are also yet to confirm the volumes of products they have in order to ascertain whether or not some of the products have ended up as they are being alleged in the petroleum stations,” he disclosed.


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$15b China Loan is reckless, scary, NDC MP blasts VP Bawumia

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The National Democratic Congress, NDC, Member of Parliament representing Bolgatanga Central, Isaac Adongo, has condemned the Vice President, Dr. Mahamadu Bawumia for justifying government’s decision to borrow $15 billion from the Chinese government.

The MP also described the move as “frightening, scary and reckless,” against the backdrop that the same Vice President criticized the government of former President John Dramani Mahama for contracting a much lesser amount.

According to him, the loan will worsen Ghana’s debt status and adversely affect the country’s economic growth and development.

It would be recalled that the Vice President announced that the government of China has agreed to commit 15 billion dollars worth of investment in Ghana after his return from the Asian country recently.

The VP also added that Ghana was able to secure the commitment due to a new financing model designed by the Economic Management Team.

However, the MP, while speaking on Eyewitness News on Tuesday, condemned Dr. Bawumia for spearheading the agreement to contract the loan despite heavily criticising the former NDC government’s decision to contract a similar loan.

“We are dealing with a country where borrowing $1bn of Eurobond was described by Bawumia himself as very reckless borrowing and he put in perspective the GDP ratio when we were borrowing just $1bn. In the 2017 budget by this government, the debt to GDP of 72% was vilified as the worst this country could ever have, now to add $19bn of an additional loan in such a short period will push our debt to GDP to the region of 120% and 130% of GDP. That is the worst that you can find in the world.

“For a person like Bawumia to now be saying that we should be clapping for him for ditching us into 130% debt to GDP is frightening, scary and reckless,” he noted.


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Chinese $15b investment will not affect fight against illegal mining – Bawumia

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China’s commitment to invest $15 billion in the Ghanaian economy will not affect the fight against illegal mining, widely known as Galamsey, the Vice President, Dr. Mahamudu Bawumia has said.

There had been insinuations that the investment of the huge sum by the Chinese government may lure government to allow Chinese nationals exploit the country’s mineral resources.

However, Dr. Bawumia, who recently returned from China, said the commitment made by the Chinese government will not deflect the country’s attention to deal with the galamsey menace, believed to have a many Chinese nationals as perpetrators.

“The issue of galamsey is not a China matter. The issue of galamsey is a Ghana matter and we will deal with anybody who’s involved in galamsey, per our laws. And the Chinese are very happy with us enforcing our laws.They won’t tell us how to enforce our laws, as we can’t tell them how to enforce their laws. And I think that the fight against galamsey is no respector of person regardless of where you come from whether is Ghana or Burkina Faso or Uruguay or Ukraine, China, you’re going to be dealt with the same. So that is not an issue and they are very supportive of us dealing with the galamsey issue as per our laws”, the VP said.


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