US$3b loan not stalled - Terkper

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SHAMU 10 years ago

Why Ghana web always publish lies? Is it been hijacked or what. I think is time for the web to be closed for the time being. It is too nonsense that such a web site representing the nation be use to publish anything lies. Is ...
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Why Ghana web always publish lies? Is it been hijacked or what. I think is time for the web to be closed for the time being. It is too nonsense that such a web site representing the nation be use to publish anything lies. Is that the work of Akans or what is really going on there? These are the only evil tribe in Ghana that derail the development of the nation since independent. I will wish if it is closed completely.
OBAA YAA 10 years ago

This was story in 2011. Three years later this government is still denying the story
Read an article which appear on this site on August 29, 2011 by a concern citizen

In early 2011, the Attah Mills/Mahama government sec ...
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This was story in 2011. Three years later this government is still denying the story
Read an article which appear on this site on August 29, 2011 by a concern citizen

In early 2011, the Attah Mills/Mahama government secured a $3 billion loan from the China Development Bank (CDB) which is state owned, for major infrastructure development projects in Ghana. The loan agreement was approved by Parliament in August 2011 amid controversy over the terms and conditions of the loan agreement, particularly, the collateralization of oil against the loan. As a result, the minority in parliament (NPP) abstained from the vote but the majority had their way.
I subsequently posted an article on Ghanaweb regarding the subject (see NPP Abstention on $3 Billion, A Political Opportunism or a Miscalculation ). President Mahama, who was the then Vice-President is reported to have made a direct appeal to CDB through the Chinese Foreign Minister to expedite the release of the loan to Ghana (see, Expedite action on release of Chinese loan - Prez).
According to the President, "although Ghana received only about $600 million from the $3 billion loan, the country continued to pay commitment fees on the whole loan. The President further said, "The fact that Ghana continued to pay commitment fees on the whole CDB $3 billion was a disincentive to it".
It's sad, isn't it? The question is, "na who cause am?" Is it not the same government that President Mahama was the then Vice-President? Did they carry out the due diligence when the agreement was signed? The answer is, no, and it was government incompetence in the negotiations that has resulted in Ghana paying more money in the form of commitment fees to China only for the Chinese to give some back to Ghana as a loan. This is madness and wanton dissipation of scarce state resources. It's criminal and those who negotiated the loan agreement must be charged and prosecuted for causing financial loss to the state.
I quote from my aforementioned article of August 29, 2011 on what I said about the terms and conditions of the loan agreement and the negotiation skills of the Ghanaian government officials.
"From some of the terms and conditions of the loan, it appears to me as if China wrote the whole agreement and presented it to Ghana for approval. If they were drawn up and negotiated by parties from both sides, then, the Ghanaian representatives either fell asleep, have had too much to drink during the negotiations or the language of negotiations was Chinese, so the Ghanaians did not understand what was at stake.
DusTY-FooT-pHiloSophER 10 years ago

Please, say the Daily Guide always publishes lies instead to suit their diabolic agenda. Why am I saying so, because their bogus news outlet was the first to publish the untrue brouhaha via Ghanaweb platform. Now, below is a ...
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Please, say the Daily Guide always publishes lies instead to suit their diabolic agenda. Why am I saying so, because their bogus news outlet was the first to publish the untrue brouhaha via Ghanaweb platform. Now, below is a piece of some associated story to that effect.

On 5/11/2013

The Government has received a loan of US$3billion from China Development Bank towards the development of major projects in various sectors of the economy.

Part of the loan will be applied to the construction of various roads. About US$112.74 million is earmarked for the Oil Enclave roads in the Western Region.
Some of the roads include Mpataba-Ekpu-New Town road-71km, Tikobo No.1-Atuabo-Alabokazo (35.7km) to connect the Gas processing plant at Atuabo to N1 highway and Yebikrom-Pumpuni Road (6km) – to connect Gas Storage Facility to main trunk road, N1 highway.

The Minister for Roads and Highways disclosed this when he took his turn at the Meet-the-press series organised by the Ministry of Information and Media Relations in Accra.

SO THEN, IF THE GOVERNMENT IS HAVING DIFFICULTIES SECURING THE US$3BILLION LOAN IN IT ENTIRETY FROM THE CHINA DEVELOPMENT BANK, WHY THEN MUST MINISTER FOR ROAD AND HIGHWAYS ANNOUNCED SUCH DEVELOPMENT JUST SOME TWO AND HALF MONTHS AGO? ANOTHER QUESTION YOU SHOULD PONDER IS, IS THE GHANA GAS INFRASRUTURE IN THE WESTERN REGION ONGOING OR STALLED?
insight to the bone 10 years ago

its all about corruption and incompetence arising from favoritism and not merit

its all about corruption and incompetence arising from favoritism and not merit
Pelicles 10 years ago

Terkper, how much has been paid by the taxpayer on the $600 million released by the Chinese government? Does it even make sense to pay $100 million interest on the $600 million released so far? I do not know who sat down and ...
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Terkper, how much has been paid by the taxpayer on the $600 million released by the Chinese government? Does it even make sense to pay $100 million interest on the $600 million released so far? I do not know who sat down and signed documents on the said loan on behalf of the nation. It simply smacks logic.
MANSA MUSAH 10 years ago

WHY THESE HYPOCRISY???? OR IS IT IGNORANCE DISPLAYED AT ITS PEAK??? AHHH!!YOU THINK GHANA IS STILL UNDER A HIPIC STATE??? YOU GOT ELECTRIC POWER CHEAP, YOU GOT WATER CHEAP, YOU ENJOYING FREEDOM TO MOVE,GOOD SECURITY, NO BOKOM ...
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WHY THESE HYPOCRISY???? OR IS IT IGNORANCE DISPLAYED AT ITS PEAK??? AHHH!!YOU THINK GHANA IS STILL UNDER A HIPIC STATE??? YOU GOT ELECTRIC POWER CHEAP, YOU GOT WATER CHEAP, YOU ENJOYING FREEDOM TO MOVE,GOOD SECURITY, NO BOKOM HARAM, NO AL-QAEDA NO GROSS ARMED ROBBERY...WTH PROMISES OF MORE POWER AND MORE GOOD WATER.WHAT IS YOUR PROBLEM???IF THERE ILLS IT IS YOUR SAME GROUPING WHO ARE INTERESTED IN SEEING THIS COUNTRY BECOME UNGOVERNABLE.... HAVING GONE THROUGH THE ROUGH DAYS OF ELECTION PETITION,DOCTORS AND TEACHERS ON STRIKES; POLITICALLY MOTIVATED ALL WOEFULLY FAILING AND PAVING WAY TO A BETTER GHANA AGENDA,WHY THINK GOOD GOVERNANCE SHOULD BE FREE.THE CHINESE ORDINARY BUSINESSMAN CANNOT ACCESS THAT AMOUNT OF MONEY. SO ARE MOST AFRICAN AND THIRD WORLD STATES....SEE THE COUNTRY'S STATUS AND CREDIBILITY OF PAYING BACK IS ALL FACTORED INTO THE INTEREST RATE...INTEREST RATES AND DURATION OF PAY ARE NOT EQUAL TO ALL BORROWERS. AMERICA,BRITAIN AND GERMANY WILL BE PAYING LESS INTEREST FOR THE SAME AMOUNT. DON'T BE IGNORANT AND DON'T THROW DUST INTO THE EYES OF THE MASSES.
Turn $ 9.75 into $ 600,000.00 10 years ago

www.directpay.com/?ref=asaseaban

www.directpay.com/?ref=asaseaban
Nii Akwei 10 years ago

The $3bn loan HAS STALLED. Stop kidding yourself. Maybe the insiders know why they are calling for your head.

The $3bn loan HAS STALLED. Stop kidding yourself. Maybe the insiders know why they are calling for your head.
MANSA MUSAH 10 years ago

THESE ARE THE CARDS WE NEED TO SLAP ON THE NPP FACES WHEN THEY ARE FINISHED WITH THEIR PROPAGANDA.THESE GUYS DO NOT DESERVE ANY TUITION OF THESE KIND.LEAVE THEM WITH THEIR EMPTY PRIDE , EMPTY CONFIDENCE AND ANTIQUARIAN IDEAS. ...
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THESE ARE THE CARDS WE NEED TO SLAP ON THE NPP FACES WHEN THEY ARE FINISHED WITH THEIR PROPAGANDA.THESE GUYS DO NOT DESERVE ANY TUITION OF THESE KIND.LEAVE THEM WITH THEIR EMPTY PRIDE , EMPTY CONFIDENCE AND ANTIQUARIAN IDEAS. NPP ARE LEAVING ON PAST HISTORICAL GLORIES....BUT THEIR YEN AKAN FUOR EMPIRE IS COLLAPSED AND ITS CIVILIZATIONS WILL SINK...THE ASHANTIHENE IS THE ONLY ONE HOLDING THE EMPIRE FORWARD...HE IS LEVEL HEADED, FORWARD LOOKING, POSITIVE THINKER, PROGRESSIVE LEADER A TRUE DYNAMIC GHANAIAN KING OF KINGS I ADMIRE HIM AND WOULD BE AT THE FOREFRONT TO GATHER SOME HEADS WHEN HE DIES..."TWUOFIAKWA"!! BUT HE IS A GREAT KING!!!!!
DusTY-FooT-pHiloSophER 10 years ago

The NPP party and its numerous bogus media houses parading as genuine news outlets had wished the deal stalled and the government burdened with some huge commitment fees for delaying or not honouring their part of the deal. B ...
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The NPP party and its numerous bogus media houses parading as genuine news outlets had wished the deal stalled and the government burdened with some huge commitment fees for delaying or not honouring their part of the deal. But, that was not to be hence their falsehood grapevine news making rounds.

INCOMPETENT GOVT 10 years ago

NPP warned NDC about this loan but like STX the incompetent NDC led by then defacto president Mahama refuse to see then reason. If you have incompetent people in govt , this is what happen .

NPP warned NDC about this loan but like STX the incompetent NDC led by then defacto president Mahama refuse to see then reason. If you have incompetent people in govt , this is what happen .
GOWAN 10 years ago

''We need to appreciate that this is the first of such facility that this country has entered into so really its a learning curve for both Ghana and China,'' he noted.
This was the statement Fifi Fiavi Kwetey made as reporte ...
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''We need to appreciate that this is the first of such facility that this country has entered into so really its a learning curve for both Ghana and China,'' he noted.
This was the statement Fifi Fiavi Kwetey made as reported on Monday 13th January 2014 on Ghanaweb. What did Fifi Kwetey mean by a learning curve when the opposition NPP, think tanks and CSO's had all made very valid and intelligent interventions about the facility, which was dismissed by the crassly inept NDC gov't with the likes of Fifi Fiavi Kwetey who was a dep Minister at the MOFEP? It is on record that the facility and it's approval under the authority of Doe Adjaho with his NDC majority in parliament flouted all the laws in the books, notably the petroleum revenue management act. Is it any wonder that the facility has stalled based on all sorts of challenges? When a corrupt bunch of politicians who are lawless and inept would do anything at all cost to win power to exercise such unbridled unintelligence and mediocrity, Ghana suffers. Ghana needs to be bold and send these NDC gov't who cannot deliver packing in 2016.
Tibaa 10 years ago

If "commitment fees (are) based on non-performance," then Ghana is in trouble because non-performance is the rule, rather than an exception in Ghana.

In this context, China gives loan to Ghana with the right hand, and coll ...
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If "commitment fees (are) based on non-performance," then Ghana is in trouble because non-performance is the rule, rather than an exception in Ghana.

In this context, China gives loan to Ghana with the right hand, and collect all the loan back with the left hand.

Ghana is a waste-basket case.
Concerned 10 years ago

For a minute i thought 1st April had come about again. Here is the same man that says the fall in Ghana's cocoa production is a good thing. This man would tell you it's a good thing if your right arm fell off, because now you ...
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For a minute i thought 1st April had come about again. Here is the same man that says the fall in Ghana's cocoa production is a good thing. This man would tell you it's a good thing if your right arm fell off, because now you're lighter. Either this man is a complete idiot or he takes us for fools. We should never accept this as our lot - we're paying interest on a load we haven't been given.... for 3 years. We would have been better not having that loan at all the way it's gone - do we all realize this. We're taking out more loans now just because this loan is not being loaned....how does that make sense.

And all the idiot Terpfool has to offer to this conversation is "...3 billion dollar loan from the China Development Bank hasn’t stalled."
Mankind 10 years ago

Dummy!! China gave you $600,000,000 (600m) and you are paying $100,000,000
($100m) on interest for a period of 6 months. You call this a good investment?? I wonder if a primary school kid will even make such an agreement wit ...
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Dummy!! China gave you $600,000,000 (600m) and you are paying $100,000,000
($100m) on interest for a period of 6 months. You call this a good investment?? I wonder if a primary school kid will even make such an agreement with anyone. Unfortunately you have tied my family I into your stupid contract. I wish it could be enforced only on NDC members and their families. Foooooools!!
Johnny USA 10 years ago

DID GHANA GOV READ THE LOAN CONTRACT B4 SIGNING.WHY MONEY NOT AT HAND AND WE HAVE TO PAY INTEREST. CANT YOU CALL ON THE CHINE GOV TO SETTLE THAT ISSUE AND U SAID (U FEAR)?

DID GHANA GOV READ THE LOAN CONTRACT B4 SIGNING.WHY MONEY NOT AT HAND AND WE HAVE TO PAY INTEREST. CANT YOU CALL ON THE CHINE GOV TO SETTLE THAT ISSUE AND U SAID (U FEAR)?

US$3b loan not stalled - Terkper

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