Gov’t starving NCCE of funds on purpose - Gyampo

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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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• Nokor3 Y3 9 years ago

  that is while they also want to get another opportunity to cheap money ,so that they can give stupid Ayariga to come and make fun of a noble person like Nana Addo 3y3 nkwaseas3m koraa in the first place

  that is while they also want to get another opportunity to cheap money ,so that they can give stupid Ayariga to come and make fun of a noble person like Nana Addo 3y3 nkwaseas3m koraa in the first place

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• zzz 9 years ago

  GOVERNMENT HAS NOT PAID THE GA SOUTH MUNICIPAL ASSEMBLY WORKERS SINCE JANUARY

  GOVERNMENT HAS NOT PAID THE GA SOUTH MUNICIPAL ASSEMBLY WORKERS SINCE JANUARY

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• FRED MENSAH 9 years ago

  Call or Whatsap me 0249620218
  -Am Fred Mensah,I deal with lotto numbers, which comes from trusted source

  Call or Whatsap me 0249620218
  -Am Fred Mensah,I deal with lotto numbers, which comes from trusted source

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• Nana Ntim 9 years ago

  Please stop deceiving the public. You have no games. l will expose you for the fraudster that you are everytime you post this rubbish on Ghanaweb

  Please stop deceiving the public. You have no games. l will expose you for the fraudster that you are everytime you post this rubbish on Ghanaweb

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• BRIGHT 9 years ago

  AN EXCELLENT CONTRIBUTION .GOD BLESS. YOU FOR HITTING THAT POINT

  AN EXCELLENT CONTRIBUTION .GOD BLESS. YOU FOR HITTING THAT POINT

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• Aluta 9 years ago

  You are perfectly right. Especially, the NDC wants Ghanaians to remain illetrates so they manoeuvre all the time.

  You are perfectly right. Especially, the NDC wants Ghanaians to remain illetrates so they manoeuvre all the time.

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• Adam Muniru 9 years ago

  This Governmant has succeded in killing the the state own institutions like and NCCE to the point there is no money to buy power not to talk of conducting investigation, in the case of CHRAJ.

  This Governmant has succeded in killing the the state own institutions like and NCCE to the point there is no money to buy power not to talk of conducting investigation, in the case of CHRAJ.

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• Kofi 9 years ago

  Y

  Y

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• Kom 9 years ago

  Y

  Y

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