Vice-President Dr. Mahumadu Bawumia of Ghana was last week on a trip to China to discuss financial assistance to the country, also unlocking a financial facility that had been blocked, for undisclosed reasons, as broadcasted on various Media stations in Ghana on the festival of celebration Eid-Mubarak, national holiday in the Christian dominated country of the West African country.
Reports are discussed in which USD 2 Billion and USD 15 Billion new financial support has been promised to Ghana by the Chinese Government. The NPP members stress out on Social Media and TV stations, this facility is different from others, it is not on the basis of borrowing money but to leverage a country, a new and modern way to solve the financial and economic crises of the country as promised in the NPP election campaign manifesto. The truth of the matter is this is not a new financial instrument but has been around for generations. NPP has no interest in the country of Ghana to boost it but to push the glory they want to see above their name in history.
Most Ghanaians have a low educational background and are partisans of either NDC or NPP, for that reason easy by the party leaders to blind them when they undertake steps to destroy the country and people of the country further and further to bring out the darkness in Ghana.
No investor holding money of that magnitude gives it for free, but will always ensure he, not the lender, will mostly profit from the agreement as the country of Ghana is in a deep mess in many ways. The USD 26 Billion debts the country has as today, the new financial agreement will not increase this sum as the mantra of the NPP goes. They agree that the leverage is based on the wealth of natural resources the country holds. This wealth is not for the NPP or NDC, but only for the people of Ghana as a whole Nation…simple as that.
The profit China is making in the coming years from the new agreement is made by the price of the various commodities they hold now in their hands. The world market is currently pressing down the price of Ghana's commodities to get them for small money. When China wants to buy oil, cocoa beans, gold or bauxite, they will not pay the right price that could have been achieved without the agreement, but squeeze Ghana more and more on this aspect by which they make their profit after all. So, it is not a direct Interest Rate they get back on borrowed money, it is profit behind the back door to the disadvantage of the Nation of Ghana.
It is in fact even worse, as the fight against the destruction of the environment will become a faze, an insult into the faces of honest Ghanaians and devastation of Ghana’s nature. The NPP government is selling the country into the hands of the Chinese, simple as that playing the card that Ghanaians and their supporters do not see the real picture and behind their wickedness.
It should not be forgotten, that Prez. Akufu-Addo had undertaken a trip recently to his counterpart in Ivory Coast to look into ways of strengthening their relationship to form an alliance to push the low price for cocoa. Each country alone is vulnerable to the big 12 companies dominating the market; but strong together, the situation can change.
When China has the option to dictate the price to Ghana CocoaBoard to an absolute minimum that Ivory Coast can never agree with and has no pressure on its mind to do so and lower its price desired and needed, how is such a cooperation possible at all? This opens and stabilizes, in fact, the power of the strong buyers in this business, even more, making cocoa farmers in both countries suffer for years to come.
The bottom line is, the NPP government has sold Ghana to the Chinese and made Ghanaians slaves to the lender with small eyes once again…so sad, so sad!
Modern slogan: Ghana for sale! How has interest?
Author: Dipl.-Pol. Karl-Heinz Heerde, Sakumono, Tema West, Ghana, phone +233(0)265078287, [email protected] , 26.06.2017