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 ... read full comment
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
SHAMELESS NDC 8 years ago
IMPEACH MAHAMA NOW
IMPEACH MAHAMA NOW
Agbekoh 8 years ago
Foolish man son
Foolish man son
Kay 8 years ago
This is exactly what Dr Nduom said but in a more radicalised way hence Gen. mosquito making funny comment about what he said.
This is exactly what Dr Nduom said but in a more radicalised way hence Gen. mosquito making funny comment about what he said.
Sam Praise 8 years ago
RUBBER STAMP
RUBBER STAMP
anna 8 years ago
pity u so ur the veep no wonder gh is sinking
pity u so ur the veep no wonder gh is sinking
Jay+++++++++++++London 8 years ago
Using Volta-Tribaliosm such by DZITAVO OR WHATEVER HER NAME IS MORE DANGEROUS AS TRIBALISM IS GHANA'S ACHILLES HEEL.
AND THE NDC EXPLOIT IT ALL THE TIME AS A PRELUDE TO CORRUPTION IN GOVERNMENT.
Using Volta-Tribaliosm such by DZITAVO OR WHATEVER HER NAME IS MORE DANGEROUS AS TRIBALISM IS GHANA'S ACHILLES HEEL.
AND THE NDC EXPLOIT IT ALL THE TIME AS A PRELUDE TO CORRUPTION IN GOVERNMENT.
Are you afraid of your mahama?
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 ...
read full comment
IMPEACH MAHAMA NOW
Foolish man son
This is exactly what Dr Nduom said but in a more radicalised way hence Gen. mosquito making funny comment about what he said.
RUBBER STAMP
pity u so ur the veep no wonder gh is sinking
Using Volta-Tribaliosm such by DZITAVO OR WHATEVER HER NAME IS MORE DANGEROUS AS TRIBALISM IS GHANA'S ACHILLES HEEL.
AND THE NDC EXPLOIT IT ALL THE TIME AS A PRELUDE TO CORRUPTION IN GOVERNMENT.