A former Minister of State at the Ministry of Finance and Economic Planning and MP for Old Tafo, Dr Anthony Akoto Osei has warned that Ghana could be heading back in to Highly Indebted Poor Countries (HIPC) in 2012 if government continues to borrow. The government of Ghana signed a Memorandum of Understanding (MOU) with STX, a Korean company, committing Ghana to a $1.5 billion deal for the construction of 30,000 housing units payable in the next 20 years. Speaking on Adom FM, Dr. Akoto Osei noted that with the approval of the STX deal and loans from China, Ghana’s debt which now stands at 11.2 billion dollars will be close to 20 billion dollars which is even more than the oil revenue. He added if the government does not consider other options than borrow then the country's debt will increase which will undoubtedly draw the country back into HIPC. Former President Kufuor in April 2001 decided to take the country to join the Highly Indebted Poor Countries (HIPC) for the international creditors to erase the country’s debt. The policy was to enable government channel monies it would have used to service debts into developmental projects. Story by:Adwoa Gyasiwaa/Myjoyonline.com/Ghana