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President Nana Addo Dankwa Akufo-Addo has sought to lay to rest arguments and speculations about what his government has been using monies it borrows to do.

Critics of the government have been wondering where the monies that the Akufo-Addo government borrows go and have challenged the President's sincerity to use the monies for its intended purposes.

The political opponents have accused the government of financial misappropriation and fear the President is driving the economy into an abyss.

To the Minority in Parliament, President Nana Akufo-Addo has left Ghana in tatters.

"Ghana's economy is bankrupt or insolvent . . . Mr. President, this is your score time and this is the true state of our nation," Minority Leader, Cassiel Ato Forson said following President Nana Addo's message on the State of the Nation Address delivered today, March 8.

"There is indeed a widespread of despair and disenchantment among our people. Millions of Ghanaians are going through unbearable hardships and excruciating pains. Our economy is in its worse shape in decades . . . we are currently unable to repay our debts . . . our economy is in tatters largely because it is self-inflicted. Your government inflicted it on us and failed to act," he continued.

President Nana Addo used his address to set the record straight on what his government has been primarily using their loans for, in reply to his critics.

He disclosed that "a large amount of the monies we borrow are for road construction".

"I am proud of the amount of work that we have done, especially in the road sector. Roads constitute the largest number of questions asked in this House by Members of Parliament; a large amount of the monies we borrow are for road construction. Shall we dare stop constructing roads?", he said on the floor of Parliament.

"Mr Speaker, I would like to state categorically that this Government has built more roads than any government in the history of the 4th Republic, and Mr. Speaker, the details of all these roads are attached in the annex to this Message. I have done so because, last year, when I made a similar pronouncement, I was met with howls and gasps of incredulity from the Minority benches, and so I thought it appropriate, this time, to present it as an annex to the Statement, which will be part of Hansard," he further stated.