Australian High Commissioner, Andrew Barnes is advising Ghana to ensure loans secured from China are used for projects and programmes that generate revenue to pay them back.
Otherwise, the country risks being drowned in perpetual debt, almost impossible to come out of and one which will span generations.
Responding to a question about Ghana and China's recent increase in trade and how the Australians hope to get involved, Andrew Barnes, explained that what's important is for Ghana to engage in proper transparent deals that's in their interest.
Ghana and many other African countries are currently drawing closer to China for trade and loans for development. China appears to have an active policy to engage Africa in various trade activities.
The country has taken several loans and grants from Beijing. The recent being a proposed 50 billion dollar loan to be paid in a century. China is also to build a truck factory to produce the SinoTruck in Ghana.
There are concerns that Ghana will be drawn into a cycle of loans from China which will come with conditionalities that will give China an upper hand in the affairs of the country.
Andrew Barnes acknowledges that business deals and loans are essential for development, but cautions that they should be transparent and understandable to the ordinary Ghanaian.
He expressed the hope that such facilities will be used diligently to generate returns that will pay off the debts.
Source: ghanaweb.com
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I share you guys' points. Now even senators in USA are finding ways to counter China's willingness to partner Africa to develop. I pray our leaders put the loans into good use and transfer Africa and shame the so called colonial bosses who only came to take all away instead.
we need to be careful as leaders of today; not to be engaging in developments and transactions for our fame and pleasure which would please the immediate average Ghanaian but will suicide the future of generations yet unborn. A good man leaves inheritance for his children's children, "NOT Debts". Ghana can manage what we have for the next two decades as honest people: (the road toes, VAT, internal revenues, .... where do all these collections go to, and how are they been managed for development??? we need to be serious as a people, we shall account to God one day.
What has Australia done for the African countries in fixing the infrastructural development we all ask for? If you have nothing to say please keep quiet and let us take our path to development