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$15 Billion Chinese loan unproductive – Ato Forson

Former Deputy Minister of Finance, Cassiel Ato Forson has cautioned the Akufo-Addo government to be weary of signing the $15 billion dollar loan with the Chinese government.

Vice President Dr Mahamudu Bawumia revealed the Chinese government had committed a sum of US$15billion to help developmental projects in Ghana, shortly after his arrival from a working visit to China.

Addressing the media at the Kotoka International Airport on Sunday June 25, 2017, he indicated that, an additional US$4billion was expected next month aside from the US$2billion in support of government’s One-District-One-Factory project announced on Wednesday.

Dr. Bawumia also assured that the assistance from the Chinese government would not compromise the fight against Galamsey as the Chinese government does not support Galamsey and has cautioned its residents in Ghana to be law-abiding.

But Mr Forson said the loan will yield no greater productivity or profits on the side of Ghanaians hence the NPP party should carefully run an in-depth analysis on the agreement terms before inking final signatures on terms and conditions.

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“Have they accessed what they can do to pay back as they take money from the Chinese bank? I think it will not be productive…” he said.

Nevertheless, he queried if the incumbent government has thoroughly analyzed what the country can do to pay back the ‘unproductive’ loan.

The Minority Spokesperson on Finance indicated that minority in parliament will at all cost subject the matter into a vigorous parliamentary scrutiny to ask questions on behalf of Ghanaians on the Chinese loan.

“He [Bawumia] should work things well because we will subject into a vigorous parliamentary scrutiny. Line by line, item for item to make sure there is value for the money. We will ask all the questions on behalf of the citizenry. We can’t say if the money is going to come this year. It will start around next year…”

“We are not in a hurry. Ghanaians voted them into power and as a loyal opposition we will play our part for Ghanaians to know we are doing good work…” he revealed to Okay FM

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