You are here: HomeNewsPolitics2018 09 05Article 682551

100-year bond will ruin economy – Ato Forson


2018-09-05 17:02:42
Comment to:
100-year bond will ruin economy – Ato Forson

The $2billion infrastructure deal is off balance sheet deal. It is not a classic loan. Neither is it a grant, it is something like, I am going to build you a railway line and other infrastructure valued at $2B.

I don't want you to pay me back in cash, but in finished or processed aluminum products to be valued at future value of $2 billion. And guess what, I would buy the aluminium products valued at market price.

That is classic barter in the modern era. You know exactly what you are exchanging for the infrastructure development. The alumina plant would be Ghana owned. You won't have the choke hold of IMF conditionalities that the NDC has come to know, addicted to and always taken us back in. You borrow from the IMF, you pay back with cash not things, not finished aluminum products. That is the difference with this deal. It stays off the balance sheet. It is not free money either. So also, is batter not free money. You exchange something for something.

Our cocoa farmers even can understand this better, for that is what they have been doing for years. You hire a farm labourer to work on your cocoa farm. You do not pay him any money; his payment is the food crops he grows within your cocoa farm. The cocoa is yours, the other food crops are his, no cash exchanged hands, but a win-win business arrangement has taken place. It is off balance sheet economic arrangement.

This too Tikenenkene Ato Forson doesn't understand? He is playing politics like football. He must stop you at all cost from scoring a goal - success - and then turn around to flip his blockade as your inability to deliver, hence, he should be hired back or voted in to rule again. Wa'nim ye'hare wa'te Ato Forson. Muff there.
Your Comment:

Your Name:

09-05 17:02
09-05 17:02