President John Mahama has dismissed claims that his government has misused the various loans it has acquired since it assumed the reigns of the state.

According to him, every loan his government has taken so far is specifically targeted at a particular project.

Members of the main opposition New Patriotic Party have often accused the Mahama-led administration of procuring excessive loans but shows little by way of development.

The running mate of the NPP Dr. Mahamudu Bawumia is on record to have accused the government of heaping debts on the country with its excessive borrowing.

But responding to the claims, Mr. Mahama said every loan his government has ever taken is approved by parliament as required by law.

“You say we haven’t used the loans for anything and that we are misusing monies, meanwhile every loan we take is taken through parliament for approval so what have they been doing, have they been sleeping?

“They approve the loans in parliament, there is no loan we have taken without taking it through parliament, they should come and tell us what they have been doing,” the President mocked at a rally in the Volta region as he rounded his 'Changing lives' tour.