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IMANI’s Argument On 3bn Chinese Loan Is Hollow – Fifi Kwetey   
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The Deputy Minister of Finance Fifi Kwetey has described IMANI Ghana’s criticisms of a 3 billion dollar loan agreement between the government of Ghana and the China Development Bank as hollow.

IMANI cautioned the government not to solely rely on the loan for infrastructural development since only about a third of the money is likely to be given to the country by 2013.

IMANI also cautioned that the loan agreement is not a guarantee that the money would really come.

But Mr. Kwetey told Citi News IMANI Ghana’s intervention is neither here nor there

“We are taking money that is supposed to be helping us acquire particularly a gas infrastructure which is absolutely revolutionary and transformational as far as our economy is concerned.

"This will change the dimensions of our power production and will enable us attract more investors, so what is the problem if the percentage for the Chinese is 50%? ” he inquired.

He said IMANI Ghana was attempting to sound intelligent and technical however their argument was empty as the 3 billion Chinese loan was “something extraordinary that is not happening in other parts of the world. ”

“The fact that you have financing does not mean you will have cash dropped in your hands. For instance the gas infrastructure does not mean they will bring you cash, it simply means that after the legislation and subsidiary comes in, you will have the equipment coming in to your country for work to begin,” the Deputy Finance Minister added.

Mr. Kwetey urged IMANI to deliberate on issues fairly and not to dabble in affairs in a partisan manner.

Source: citifmonline. com

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