Business News of Thursday, 4 April 2019Source: classfmonline.com$1.62bn of $3bn Eurobond will be consumed by 'family and friends' – AdongoIsaac Adongo, Member of Parliament for Bolgatanga CentralThe Member of Parliament (MP) for Bolgatanga Central, Mr Isaac Adongo, has said a chunk of the $3 billion raised from the recently-issued Eurobonds by the government will end up with “family and friends”. He pointed out that: “If you take 2019, the $3 billion they borrowed, $2 billion is for the budget. $1.61 billion will go into family and friends, you know it”. Mr Adongo also said: “In 2018, we [Ghana] went to borrow $750 million [but] we spent only $119 million on capital expenditure; $631 million, we spent on consumption. Our children will have to come and pay for this and they [the government] have nothing to show”.

Source: GhanaWeb April 04, 2019 17:48 UTC