Technical Advisor to the vice president, Dr. Gideon Boako has noted that the brouhaha surrounding a $19 billion fund from the Chinese government is “unfortunate”.
Earlier communiqué from government indicated that Ghana is seeking to leverage its natural resources, specifically bauxite, through its recent partnership with the Chinese government that saw the latter pledge to commit over 15 billion dollars to Ghana’s economy.
But the minority in parliament also argued that the money is a loan from the Chinese government which would plunge the country into a Heavily Indebted Poor Country (HIPC) status.
The Minority Spokesperson on Finance, Mr Cassiel Ato Baah Forson, maintained that the loan facility, which would raise the country's debt by 50 per cent, would raise the country's debt to Gross Domestic Product (GDP) of 72 per cent to about 130 per cent.
However, Dr. Gideon Boako who was among government delegation to China explained that “Ghana and China are in a joint venture. We insisted on that during a meeting with the Chinese government so the money is not loan as purported”
“The Chinese government agreed to our proposal and signed an agreement on that. we are not going to pay them anything but profits from the joint venture business will be shared among the two great countries,” he added
Speaking on NEAT FM’s morning show ‘Ghana Montie’ the vice president’s advisor said – “We made it clear to the Chinese government that, whiles they are providing the money for the joint venture business we will use the money to work on Ghana’s bauxite sector for the international market which they agreed.”
Source: King Edward Ambrose Washman Addo/Peacefmonline/Ghana
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Big and smart brains at work now...opposition will marvel at how we are going to transform the nation.
@Ryan; God is watching what? Don't bring God's name here. If you don't understand some aspects of the explanation just ask for more rather than concluding that the transaction was a cover up corruption. Look! It's a high time we allow the best brains amongst us to work for our welfare for it was the similar brains that had worked for the Chinese and the other developed countries. Please, just be a productive critic than distractive ill informed one.
Why are NDC people so du-mp? Can Dr Bawumia quantify the amount of bauxite deposit in Ghana? Is he a Geologist?
I do not have to think that you are among those who cannot read to understand. The man is now the vice president of the republic of Ghana and all the advisers and assistants go with the position. If he was brushing his shoes at first, somebody has to do that for him now. As vice president, he has so much on his shoulders that other people have to help; otherwise he would have doubled up as the minister of finance
Advisor to Mr. Know-All? How come? This is another way of protecting the public purse. Institutional corruption and legal galamsey. God is watching!!!