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• PRINCE KWASI ADADE ( OFIE P33 ) 9 years ago

  DR BAWUMIA ,THE PROPHET, ON THE $250 MILLION NDC TOOK OUT OF THE $1BILLION EUROBOND FROM BOG AND DEPOSITED FOOLISHLY & NONSENSICALLY AT THE UNITED BANK OF AFRICA (UBA)--------READ BELOW------ Beyond the issue of legality, the ...
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  DR BAWUMIA ,THE PROPHET, ON THE $250 MILLION NDC TOOK OUT OF THE $1BILLION EUROBOND FROM BOG AND DEPOSITED FOOLISHLY & NONSENSICALLY AT THE UNITED BANK OF AFRICA (UBA)--------READ BELOW------ Beyond the issue of legality, there is the issue of prudence in the management of Ghana’s resources. How do you go and borrow money for 10.75% (US dollar) and give it to someone to lend it to you at over 20% (GHC)? In effect you are paying over 30%! Assuming stable exchange rates, Ghana will be paying additional interest of at least $50 million a year on this transaction. It really is reckless. The government is claiming that the funds were “idle”. Really? What does that mean? Why do you borrow funds and pay interest on it if you do not have use for them at the moment? It is clear that the GIIF does not have a portfolio of projects ready to invest in and it is weird to allocate a whopping sum of $250 million to them at this time. Is the Minister aware that the country owes N-Gas some $100 million? What about other contractors who are owed money by the government? How can you owe so much, have so much to do and yet claim to have “idle” borrowed funds? The allocation of such an amount to a private bank also has major macroeconomic consequences for a relatively small economy like Ghana. It increases the deposits of the banking system and ultimately the money supply. It has inflationary and exchange rate depreciation consequences and would make it more difficult for the government to meet its inflation target. I am surprised that the government is oblivious of these consequences. The Funds should stay at the Bank of Ghana. After all the Bank of Ghana, on its own or through its external fund managers of the caliber of internationally reputable banks like UBS, JP Morgan, Citibank, Merrill Lynch etc. can undertake whatever investment of the country’s foreign exchange that the government would like it to undertake

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• NPP SENIOR CITIZEN 9 years ago

  It's obvious and crystal clear Nana Akuffo Addo the most useless politician and the NPP will soon congratulate MAHAMA in advance for winning 2016.

  It's obvious and crystal clear Nana Akuffo Addo the most useless politician and the NPP will soon congratulate MAHAMA in advance for winning 2016.

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• Agbee@Agbee 9 years ago

  We are all rational beings. We need no other person to tell us what this government stands for.You can say whatever that you like. Prez. Mahama will win the 2016 elections, come November 7

  We are all rational beings. We need no other person to tell us what this government stands for.You can say whatever that you like. Prez. Mahama will win the 2016 elections, come November 7

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• OLD SOLDIER 9 years ago

  Author:-OBAA YAA....
  Why not? Because past experience confirms that all projects undertaken by your administration has come out with bloated estimated cost.
  President incompetent –in-chief, may I remind you that even the ...
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  Author:-OBAA YAA....
  Why not? Because past experience confirms that all projects undertaken by your administration has come out with bloated estimated cost.
  President incompetent –in-chief, may I remind you that even the cost of branding inter-cities buses with your pictures was so over quantified that your sector minister has to resign on this issue. Again, have too soon forgotten the bloated cost of construction Kumasi Airport runway?
  The fact is your administration is noted for cost augmentation, especially on construction projects. Therefore, there is no beef if questions are being raised on projects undertaken by your administration

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• Jew 9 years ago

  With a very embarrassing 3rd class degree in economics and a certificateless lawyer popularly known as all die be die leading you, why won't you keep dreaming.

  With a very embarrassing 3rd class degree in economics and a certificateless lawyer popularly known as all die be die leading you, why won't you keep dreaming.

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• LOVEJOY - USA 9 years ago

  Folks, let's help solve Nana Akufo Addo's biggest problem, just the name of the Law School, he completed, please don't mention Oxford because everybody know he was sacked. Please let all help.

  Folks, let's help solve Nana Akufo Addo's biggest problem, just the name of the Law School, he completed, please don't mention Oxford because everybody know he was sacked. Please let all help.

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• # VOTE MAHAMA OUT ! 9 years ago

  The Nigerian Phantom Vote Thief Charlotte Osei Cannot Steal this Elections for Ignoramus Mahama.! A really Huge Mass of Voters will Show up on Elections Day and Cast Mahama Out from Office!.

  The Nigerian Phantom Vote Thief Charlotte Osei Cannot Steal this Elections for Ignoramus Mahama.! A really Huge Mass of Voters will Show up on Elections Day and Cast Mahama Out from Office!.

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• Salifu inusah 9 years ago

  Lets be patience about politicians,because no is perfect in life.so lets still maintain our peace through democratic means but not with clendestine activities which will leads heinous crimes affecting our awaiting gigantic su ...
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  Lets be patience about politicians,because no is perfect in life.so lets still maintain our peace through democratic means but not with clendestine activities which will leads heinous crimes affecting our awaiting gigantic sucess in 2016 election.

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• pm wa 9 years ago

  No wonder npp character and desease is in their blood because they were not teaches how to respect

  No wonder npp character and desease is in their blood because they were not teaches how to respect

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• peace 9 years ago

  What are you people talking about? change for what can Nana Addo lead Ghana if yes he should ex bite to NPP its not about sneezing drugs JM for 2016.

  What are you people talking about? change for what can Nana Addo lead Ghana if yes he should ex bite to NPP its not about sneezing drugs JM for 2016.

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• Agozho...Hohoe VR 9 years ago

  Ghana undersiege by strangers who patronise our schools and health system especially.l we listening get to a audio tape where l woman lost her brother due to lack of beds in hospital in the volta region.Our hospitals are un ...
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  Ghana undersiege by strangers who patronise our schools and health system especially.l we listening get to a audio tape where l woman lost her brother due to lack of beds in hospital in the volta region.Our hospitals are undersiege.VOLTARIAN LET'S STOP THIS TRIBAL VOTING AND GIVE NPP THE CHANCE OF MAKING GHANA GREAT AGAIN.WE ARE NOT WINNING MACHINE E OF THE NDC.THEY HAVE NOTHING TO OFFER VOLTARIANS POSITIVELY.IF NPP IS TALKING TO FOREIGNERS COMING INTO GHANA TO VOTE THE ARE THINKING OF BUILDING GHANA IN SOLID GROUNDS.FOREIGNERS CAN'T BUILD YOUR COUNTRY.THEY DESTROY AND WALK AWAY THROUGH OUR BORDERS.GHANAIAN SCHOOLS ARE OVER BURDEN.NHS IS COMPLETELY WEAKEN THESE WERE INVITED BY THE NPP GOVERNMENT.THESE ARE SIGNS OF GOOD PLANS AND LEADERSHIP

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• SAY IT AS IT IS 9 years ago

  GHANAIANS WILL TEACH DESPERATE AND PROUD NPP WHAT IS PEPPER ON 7TH NOVEMBER, 2016.
  
  THERE ARE MORE PEOPLE, ESPECIALLY, THE SILENCE ONES WHO ARE EAGERLY AWAITING FOR THE D-DAY TO COME.

  GHANAIANS WILL TEACH DESPERATE AND PROUD NPP WHAT IS PEPPER ON 7TH NOVEMBER, 2016.
  
  THERE ARE MORE PEOPLE, ESPECIALLY, THE SILENCE ONES WHO ARE EAGERLY AWAITING FOR THE D-DAY TO COME.

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