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Economic crisis to worsen without approval of $500m loan facility - Ursula to Minority

Ursula Owusu Ekuful  Reregisteration Communications and Digitalisation Minister, Ursula Owusu-Ekuful

Wed, 23 Nov 2022 Source: www.ghanaweb.com

The Minister for Communications and Member of Parliament for Ablekuma West Constituency, Ursula Owusu-Ekuful, has urged the minority in parliament to reconsider their decision not to approve any further loans by government.

According to her, the country may face a more difficult financial situation if these loans are disapproved.

She explained that one of the loans which have to do with her ministry will be funding for entrepreneurial skills, development training and start-up capital to start the innovation ecosystem and also provide jobs in the country.

She added that there is a need for parliament to approve these loans as digital technology provides us opportunities in these difficult times.

“This loan facility that the world bank board has already approved and are willing and eager to give this money to us but we cannot contract any loans without parliamentary approval. This loan for the Ghana Digital acceleration project will provide funding for entrepreneurial skills, development training and start-up capital to stare up the innovation ecosystem of our country.

"If we didn’t learn anything form the pandemic; it is that one lesson we all must have learnt is that without digital technology it is impossible for any country to grow its economy to communicate in the rapidly unfolding environment in which we live.

"Yes, we are having economic challenges but the Digital technology provides us with the ladder to climb out if the difficulties we currently face and so even though the minority has already taken the stand that they will not approve any further loans. I urge upon them that they should take another look at their position and reconsider because if we don’t take the right decision today, our country will be in probably even more difficult circumstances tomorrow,” she told journalists in parliament.

The minority side in parliament has vowed that it will not approve any further loan agreement by the government of Ghana in Parliament.

According to the minority, the approval of further loans will worsen the debt situation of the country.

Member of Parliament for Asuogyaman Constituency Thomas Nyarko Ampem said in an interview that “Government of Ghana has brought a loan agreement for us to approve and three different loans agreement. One for two hundred million dollars and two each for one hundred and fifty million dollars. We have taken a very simple decision that looking at our debt situation we are unable to support further approvals for further loans because believe that if you are in a hole you don’t continue to dig further.”

It is based on this the Minister of Communication has asked the minority to reconsider their decision.

NYA/DA

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Source: www.ghanaweb.com