$2bn Chinese loan: Don’t compromise Ghana’s sovereignty – Minority

The Minority in Parliament has cautioned government not to compromise Ghana’s sovereignty to the Chinese government in an attempt to secure loans for infrastructure development.

The caution by the Minority follows the recent agreement signed by President Nana Addo Dankwa Akufo-Addo and the Chinese government for a $2 billion barter agreement for projects.

Contributing to a statement on the floor of Parliament, MP for Wa Central, Rashid Pelpuo said government should learn lessons from their Zambian counterparts where reports suggest that the Chinese government has taken over sections of their economy for failing to pay debt owed the Chinese government.

“Recounting all the benefits we have had from China and the fact that we are considering the request that we continue to enhance that relation and strengthen it saddens my heart."

“Mr. Speaker, it shows that one sided relationship in which Ghana seems to the beneficiary all the time, the loans we have taken, the grants and every other time shows that it is not a relation we should continue in the direction we are going."

“It is what defines you, your worth, and your importance that cements your sovereignty as a country that cannot be taken away by another country. I have seen several African countries in which China’s presence have shown that in the end those countries have lost their sovereignty [like] Zambia...in situations where telecommunications and other benefits that are in the country cannot be decided by the country alone without China not coming in to support,” Hon. Pelpuo said.

The Chairman of Parliament’s Foreign Affairs, Frank Annoh-Dompreh said the country should adopt a bipartisan approach in the $2 billion Sinohydro barter agreement with the Chinese government.

“In exchange of the 2 billion dollars, I will urge that we rather entrust our talents in the hands of the skillful than to bury them...Mr Speaker, Ghana has a long standing relationship with China and I believe that this new agreement is another giant step to transform, enhance and fast track our development agenda."

“Mr. Speaker, the Sino-Hydro agreement is a welcome news that needs a Bi-partisan approach with a singular view of raking in the best interest for our dear country.”