Imani-NPP $3bn Chinese Loan Politics

The Daily Democrat publishes for our cherished readers and discerning Ghanaians the uninformed and confused position of IMANI about the $3billion Chinese loan and the logical explanation by Government to arrest the country’s infrastructure deficit for industrialization take off in a sustained economy for job creation and massive employment.

The country’s infrastructure deficit is currently over one billion dollar per year.

The New Patriotic Party (NPP), offshoot of the UP tradition hates to see development executed under another regime and would not hesitate to use all possible means to thwart it for the sake of political expediency and greed. The Akosombo Dam, Tema Motor Way, Tema Township and even the attainment of Ghana’s Independence suffered unnecessary criticisms and strong resistance from the hands of the UP(P) who later collaborated with external forces to overthrow Osagyefo Dr. Nkrumah’s Government. It is therefore no surprise that the anti-development posture when not in government is still manifesting through an alleged independent think tank, IMANI Ghana.

Ghanaians would therefore appreciate the truth about why efforts are being made by these political opponents to frustrate and halt the Mills –led administration’s journey of progress and prosperity in an atmosphere of peace and respect for human dignity. In our political discourse, politicians turn to be self-centred at the expense of the larger interest of the nation. As human institutions, it is inevitable but this must not be detrimental to the well-being of the good people of Ghana and the generation unborn. IMANI’s hurried report to cast doubt on the $3billion loan is unfortunate and misplaced in view of the fact that such facility is an issue of development and not politics. IMANI must be reminded that the over $500,000 MIDA support the Kufour government received from the US government has brought in a lot of development with the hope that Ghana qualifies under the second phase to continue the provision of the needed infrastructure. Why should a Ghanaian or group of Ghanaians express pessimism about foreign financial support to Ghana when other countries are yearning for it but are not able to secure it.

According to government, IMANI confuses the Framework Agreement signed with the Chinese authorities (CDB and China EXIM Bank) in September 2010 (during HE President Mills’ visit to China) with the Master Facility Agreement (MFA) which Parliament approved in August 2011.

It is regrettable that IMANI confuses the two documents and is misleading the public. Indeed, IMANI refers to a Master Framework (not Facility) Agreement in its analysis. While the Framework Agreements are Memoranda of Understanding (MOUs), the MFA is a firm and binding Agreement with CDB.