General News Thu, 3 Oct 2002

Don't panic over IFC loan

THE Deputy Government’s Spokesman, Mr Kofi Amponsah-Bediako has called on Ghanaians not to panic over the misgivings being expressed in certain international and local circles about the $1billion loan facility being sought by the government from the International Finance Consortium (IFC).

“The truth would come out when the money starts rolling in”, he told a radio station in Kumasi.

Mr Amponsah-Bediako was reacting to a story in an Accra private newspaper, which quoted sources within the United Nations (UN) as expressed misgivings about IFC and the $1 billion loan to Ghana.

He explained that the IFC is a private consortium and any dealings with it did not necessarily need the involvement of the UN.

Mr Amponsah-Bediako said Parliament knew what it was about before it approved of the loan.

He said the government took due diligence in negotiating for the loan” and when the results begin to show, we will all see whether we are telling the truth or not”. The Deputy government spokesperson expressed concern about the way the whole facility has been politicised.

He said the government team that led the negotiations for the loan was made up of internationally acclaimed economist and stated that if there was any wrong dealings on the part of IFC, the team would have known.

He said when the government decided that the country joins the Heavily Indebted Poor Countries (HIPC) initiative, there was a lot of noise from opponents of the government and said when benefits under the HIPC started accruing, some people are demanding more of the monies for their districts and communities, he said.


Source: Daily Graphic
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