There is going to be massive development in Ghana if the Government geos ahead with its plan of floating the $50billion centenary bond, Daniel Okyem Aboagye, Bantama MP, has said.

According to him, with this bond in place, Ghana will, in 10 years, be a developed country due to the development that will occur in the oil-producing West African country.

His comments come on the heels of claims by Member of Parliament for Bolgatanga Central, Isaac Adongo that the bond consideration exposes the visionless-ness of the Akufo-Addo-led government.

President Nana Addo Dankwa Akufo-Addo, speaking to President Xi Jinping of the People’s Republic of China during his state visit, said: “The Ministry of Finance and the economists in Ghana are looking at floating a $50 billion Century Bond”.

“This will provide us with the resources to finance our infrastructural and industrial development. We are hoping that, at some stage, China will interest itself, and take a part of it as China’s contribution to Ghana’s development”, the president said.

According to him, the centenary bond will be one of government’s means of securing long-term financial sources that “will allow us to deal with our infrastructural development, and also realise the vision of a Ghana Beyond Aid.”

However, Mr Adongo told Ghana Yensom on Accra 100.5FM hosted by Chief Jerry Forson on Tuesday, 4 September that: “This government is as visionless as a child, otherwise, how can you go for such a loan without a blueprint telling the people of Ghana what went into that loan.

“What are you going to do with the $50 billion? You can only mention that you want to use it for infrastructure, but in 100 years’ time, nobody will need the things that you want to develop today, so, why take loan for 100 years.”

He added: “I thought the NPP said they were not going to borrow when they come into office but what are we seeing now? Plunging the country into massive debt is what they are doing at the moment.”

Reacting to Mr Adongo’s comment on the same show, Mr Aboagye, said: “If there is any visionless government that ever governed Ghanaians, then we should turn our eyes to the John Mahama administration. The Mahama-led government was rather the visionless government considering all the money that came into the hands of his government but with very little to show for it.

“Loans will benefit the people or not depending on which government is in place. Unlike the Mahama administration that wasted Ghana’s money through corruption, a visionary leader like President Akufo-Addo will use the loan to benefit all Ghanaians.”

He added: “This $50billion bond we are talking about, if successful, will yield results most Ghanaians will be satisfied with. In 10 years, Ghana will be a developed country.

“Government has already rolled out programmes including the free Senior High School and part of this bond will be used in strengthening the programme and also create industries for our children to work. Development of the country will be at the centre of this bond.”

-ClassFM