Parliament Goes On Recess After Approving Two More Loans

Ghana’s Parliament has adjourned sine die after passing the Appropriation Act 2022 to authorise government expenditure for 2023. However, this was not before adding two new loans to the debt burden of Ghana’s already debt-distressed economy, which is seeking support from the International Monetary Fund (IMF) and is currently negotiating tumultuous debt exchange programs with domestic and international creditors. According to the House, 30 million Euros has been authorised as a loan to Finance the “Government Goes Solar Project” and another 116 million Euros to finance “the 330kv Accra-Kumasi Transmission Line Project.” Despite the precarious state of Ghana’s debt situation,…