A Member of the Communications Team of the New Patriotic Party (NPP), John Kumah, has questioned the logic behind pegging the development of the nation on only the $3 billion loan government intends securing this year from China.
John Kumah who seems worried that government’s over-reliance on the facility to prosecute its 2013 economic program, especially in the infrastructure area, could lead to dislocations in the economy and frustrations on the part of its managers, believes that if the loan is not secured or even delays, the country might not witness any infrastructural development.
In his New Year address, the President of the Republic left Ghanaians in no doubt about how central the $3 billion facility has become to the government’s overall economic agenda.
Mr. Kumah was reacting to a portion of President Mills’ New Year message which states: “…expressing the confidence that government’s infrastructural development would receive a major boost, this year with the anticipation of the three billion dollar Chinese loan.”
Speaking as a panelist on Peace FM’s Kokrokoo Morning Show, the NPP activist said: “…the way government is going on about with the $3 billion loan, it will not augur well for the development of this country…why should the country’s oil resources be used as collateral for 15 years?”
“…Everything is now dependent on the Chinese loan; everything President Mills wants to accomplish in 2012 seems to be hinged on assessing the Chinese loan…a government in a New Year needs not pin its hopes on a loan which has not even been secured yet…how is that possible? Meanwhile, (since it assumed power) the amount of money the NDC has contracted through loans is in excess of over 20 billion dollars and yet we have not witnessed any remarkable or significant infrastructural development…,” John Kumah said.
Source: GhanaWeb
