In this edition of Adom FM’s anti- corruption segment, Fabewoso on Dwaso Nsem, show host Captain Smart looked at loans contracted by successive governments under the fourth republic.
Using the the 2016 Annual Debt Management Report submitted by Finance Minister, Ken Ofori-Atta to Parliament, the show looked at whether the projects for which the loans were contracted have been executed.
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In a revealing turn of events, most of the projects in the list of outstanding external loans are non-existent and the monies remain unaccounted for by the governments who took them.
Reviewing the reports, Smart noted that in one instance, loans taken for the rehabilitation of the Korle Lagoon were not used for the purpose.
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Meanwhile, the loan for the “lagoon rehabilitation” will be due in for repayment in 2035”.
What has made the issue even murkier, Captain Smart said, was the fact that those who took the loans will not work to pay them because most of the loans will be paid back in 2048.
Watch the entire segment above.
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