RE: I am not Impressed - RE: China Loans Ghana $3Bn +

What is happening is NOT a new Scenario of Natural Resource rich nations in Africa. If Ghana treads the path of Nigeria's Oil money management, Ghana and the future generation will pay dearly. If all these borrowing could be used to positively impact on our GDP then we have the key to development. Normally, natural resource rich governments in Africa use such loans to quell down dissenting voices and groups. This leads to massive corruption in the country which in turn leads to high social vices and injustices.

This loan excludes other facilities that the government had contracted for other sectors of our economy. One cannot say even in corporate finance terms for Ghana to be highly geared, taking GDP of $36.83Bn with growth of 4.6%. It is a plus for Prof. Mills government to get these loans for which we all know is due to our Oil find not necessarily prudent economic policies. The begging bow of governments of Africa leaks terribly as G. Ayittey puts it.

Let us rise up to scrutinize the uses of these loans and raise the red flag where necessary to ensure that these loans are put to good uses. If the approach and attitude for this loan is like the STX deal then God save us.

Foreigners are taking even the informal and traditional sectors of our economy. The traders Union, Agro-business, met in Kumasi this morning at Cultural centre. All of them are losing their business to foreigners at the retail level, even “Obroniwawu” traders are losing business to these foreigners.

Let us give them some benefits but the classic politician takes banana decision often coming out with the straight portion of the banana whilst the implementation is the crooked portion which is always hidden from the masses. Though parliament passed the STX deal and ignored all sound argument but thank God they are still struggling to sign it finally. What a democracy or autocracy or democratic dictatorship?

What I cannot fathom with Prez Mill's government, is what decision processes do the government go through before announcing its intention of implementing a policy. Look at the sad ramification of SH Schools with regards to resource allocation when the government took the decision to reduce the years from 4years to 3 years. Now most of these schools cannot re-open due to logistical constraints.

Thanks and Regards,

Jacob Osei Yeboah