$19bn Chinese loan will benefit China – ISODEC warns

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Substitude Teacher 8 years ago

But mortgaging the resource of our future generations to the wicked Chinese? Come on, isn't it time our so called leaders should come up with better solutions to our problems than to mortgage our children's future? Bawumia, p ...
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But mortgaging the resource of our future generations to the wicked Chinese? Come on, isn't it time our so called leaders should come up with better solutions to our problems than to mortgage our children's future? Bawumia, please don't destroy our children's future.
THIS CAN BE TERRIBLE 8 years ago

WE SHOULD ADD VALUE TO OUR RAW MATERIALS BEFORE WE SELL THEM O.IT DOESNT SOUND RIGHT TO SELL OUR RAW MATERIALS AGAIN.BAWUMIA THINK AGAIN.

WE SHOULD ADD VALUE TO OUR RAW MATERIALS BEFORE WE SELL THEM O.IT DOESNT SOUND RIGHT TO SELL OUR RAW MATERIALS AGAIN.BAWUMIA THINK AGAIN.
Mas Ieso 8 years ago

How do we add value to our raw materials without factories? Trump's America is not going to help us. Most European Countries are not in a position to help us as much as we need. Because we are a stable country with lots of po ...
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How do we add value to our raw materials without factories? Trump's America is not going to help us. Most European Countries are not in a position to help us as much as we need. Because we are a stable country with lots of potential in terms of human and natural resources that is why Chine is coming to help us. There are a lot of wealthy people in China now who have money to invest all over the world. So let us take advantage of the opportunity and utilize this 19 billion to our mutual advantage. I am pretty sure they were watching Bawumia when he was lecturing the previous government on the state of the economy, and they found him to be good, that is why they are dealing with him and his government. Let us pray that whatever amount we get we use to build hospitals, railway lines, factories to add value to our raw materials, and we do not squander them on selfish luxurious items. Thanks for the space.
Shipah 8 years ago

Relax and watch brains at work....u stupidly making noise wen the money is not in yet...if wat they planning to do is right...then the jobs about to be created in Ghana is enormous....if they can set up the facilities without ...
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Relax and watch brains at work....u stupidly making noise wen the money is not in yet...if wat they planning to do is right...then the jobs about to be created in Ghana is enormous....if they can set up the facilities without corruption and can mine n refine even the bauxite alone we are good...business about risk taking.. .u calculate n u take the risk...so we shud sit down doing nothing like ndc did in 30 years...the elephant will move in the direction of industrialization.....period
ABBA ATTA 8 years ago

FOLKS WHERE ARE THE TWO PAID NEW PATRIOTIC PARTY POSTERS, PRINCE KWESI ADADE AND AGBESI KWESI, YOU WILL NOT FIND THEM HERE AT ALL, AS TOLD YOU, AS PAID COPY AND PASTE COMMENTERS THEIR MAIN ASSIGNMENT IS TO SIT BEHIND THEIR PH ...
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FOLKS WHERE ARE THE TWO PAID NEW PATRIOTIC PARTY POSTERS, PRINCE KWESI ADADE AND AGBESI KWESI, YOU WILL NOT FIND THEM HERE AT ALL, AS TOLD YOU, AS PAID COPY AND PASTE COMMENTERS THEIR MAIN ASSIGNMENT IS TO SIT BEHIND THEIR PHONES ALWAYS READING GHANAWEB NEWS ITEMS, AND BE THE FIRST TO POST CCOMMENTS ON NEWS THAT GOES AGAINST THE PAST GOVERNMENT, BY FURTHER PEDDLING LIES. THEY ARE ABSENT WHEN THE NEWS ITEM IS AGAINST THE NPP.
Abi 8 years ago

.....so we should not think, because we are Foolish and Ignorant, we should just listen, because we are Cheap and Hopeless, we should not reason...

Hmmmmmmm... COMMON SENSE IS THROWN TO THE WIND!!!!

.....so we should not think, because we are Foolish and Ignorant, we should just listen, because we are Cheap and Hopeless, we should not reason...

Hmmmmmmm... COMMON SENSE IS THROWN TO THE WIND!!!!
YOU SEY WETTIN ? 8 years ago

We claim democracy is the best form of governance, but China which does not practice our type of democracy is rather progressing. WHY ?

We claim democracy is the best form of governance, but China which does not practice our type of democracy is rather progressing. WHY ?
Otsibu Darko 8 years ago

"Monkey dey work, baboon dey chop", why complain let's work hard until we drop dead, after all our future generation will continue to do same. In Ghana and for that matter Africa in general we have the best educated and unedu ...
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"Monkey dey work, baboon dey chop", why complain let's work hard until we drop dead, after all our future generation will continue to do same. In Ghana and for that matter Africa in general we have the best educated and uneducated stupid fools in the leadership and the populace, I think we should mortgage the continent of Africa to the North Koreans and I bet, they will do a better job with us. The Chinese don't give loans for nothing, they stand to gain more than we see. It is about time Ghana(Africa) had an Economic/Financial Think Tank to address the economic woes facing us; the first of their task designing an economic policy that will help pay and eliminate our debts, second structuring and strengthening the economic base for industrial and social development and third create a sustainable job base!
Homework 8 years ago

First, none of our development partners are coming into Africa because of the air, or because they like our pigmentation. Every single one of them in Africa, in the Middle East, in South America, North Africa, Asia are all th ...
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First, none of our development partners are coming into Africa because of the air, or because they like our pigmentation. Every single one of them in Africa, in the Middle East, in South America, North Africa, Asia are all there because of natural resources.
Your task is to leverage those resources knowing the full and complete worth of those resources to develop your country. Dubai, leveraged it's oil wealth, under all that sand and transformed the desert into what it is today.
We have not managed to capitalise on our cocoa and gold over the years, to turnaround our fortunes. The question is why?
And that is the issue in contention now. How do we leverage on some amount of those resources, knowing the full and complete worth of those resources across the whole value chain, from the raw form to the final end-product, and how do we capitalise on that to link that to our development goals?
Cocoa for example is sold as the raw beans, although we all know about the other uses for which we do not benefit. So if we are leveraging about 100 million metric tonnes of our iron ore deposits, have we assessed the full and complete worth of the ore from the raw form to the various final products, bearing in mind, other mineral elements could be part of material?
And with the $15 billion or whatever amount would come from wherever, the most important issues becomes, how do we use that to position ourselves to ensure we capture some equity at the high end of the process, where the magic is, because the magic definitely will happen and when it happens it is huge and that is where the win-win situation and all it entails, comes in.
Victor A. Young 8 years ago

ISODEC or whichever organization they call themselves are all oblivious to business and international protocol. So they're trying to inform Ghanaians that the Chinese gov't should consider a worthless investment in Ghana?

...
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ISODEC or whichever organization they call themselves are all oblivious to business and international protocol. So they're trying to inform Ghanaians that the Chinese gov't should consider a worthless investment in Ghana?

Everyone wants good returns on their investment, so why should Ghanaians think that China should expect not to benefit from their huge investment in Ghana; is that the mentality of our people? Ghanaians should note ISODEC's statement somewhere for future reference; they'll come back someday to say that they didn't make such a statement when Ghana begins to reap the fruits of this noble investment ventures undertaken by Ghana and China. Personally, I think ISODEC is a bogus organization!

There lots of bogus organizations that sprung up during and after the AFRC/P-NDC era, most of whom are sycophants in the system.

People should just shun them; they've become distracters to Ghana's economic prosperity and development by contributing negatively on matters of national interest.

Nii 8 years ago

Can you tell me the system of governance in China ?

Can you tell me the system of governance in China ?
Patriot 8 years ago

You do not need to be told. Even the US takes loans from China knowing fully it is a communist country and so what?

You do not need to be told. Even the US takes loans from China knowing fully it is a communist country and so what?
baah 8 years ago

only 20 people vote for the President in china and the reelection is after 10 years...... 1. 3 billlion population every providence has different laws and you must due with law.......... even they are foreigners with t ...
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only 20 people vote for the President in china and the reelection is after 10 years...... 1. 3 billlion population every providence has different laws and you must due with law.......... even they are foreigners with their own country how much more Africa....... they are trained to stay every where they go......
SAQ 8 years ago

Sign of failed agendas, Bawumia the talkative, he also seem to lack common sense (Phd and all). According to Bawumia China would give Ghana $15 billion. Recent memory tells us the Chinese could NOT fulfill a promise for $5 bi ...
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Sign of failed agendas, Bawumia the talkative, he also seem to lack common sense (Phd and all). According to Bawumia China would give Ghana $15 billion. Recent memory tells us the Chinese could NOT fulfill a promise for $5 billion. It is also clear the Chinese employ this game of lies for favors in contract awards for Chinese companies.

The $15 billion is the most stupid and demeaning thing ever in Ghanaian politics.
Patriot 8 years ago

Be smart, man. Don't be dumb. Mere criticism would not take Ghana anywhere. We did that for 8 years while others chopped nyafu nyafu. Woyome got 52 million Gh cedis for doing nothing. Seth Tekper did nothing but would resort ...
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Be smart, man. Don't be dumb. Mere criticism would not take Ghana anywhere. We did that for 8 years while others chopped nyafu nyafu. Woyome got 52 million Gh cedis for doing nothing. Seth Tekper did nothing but would resort to borrowing at the least opportunity. He was not creative. Listen well and you would know that in the long run, Ghana is not going to pay a dime of the $15 billion. The Chinese are not only smartest guys on the block.
Jasmine 8 years ago

Akufo-Addo and liar Bawumiah have been crying on top of their voices venting spleen on the colossal debt we have, not they're talking about 19 billion dollars loan from China, a country only interested in their government wit ...
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Akufo-Addo and liar Bawumiah have been crying on top of their voices venting spleen on the colossal debt we have, not they're talking about 19 billion dollars loan from China, a country only interested in their government with no responsibility towards their own citizens? So what kind of humans are we in Ghana and Africa at all, that, all we know is borrow and spend, and cars?

We have citizens stealing everything to the extent that we can't generate income enough to help ourselves. I see that, it looks far easier to go to someone to beg for money to spend lavishly on girlfriends, homes and flashy cars instead of enforcing our laws and guarding against those stealing at the ports, at the CEPS, Internal Revenue, toll points, mines and oilfields; it's easier to borrow money and share rather than applying laws to stubborn citizens to make things work, to make the state function!

We won't be able to pay China. How are we going to pay back, since the system failure in the country isn't going to be solved soon?

Oh, Christ, why do we merit stupid people at the helms of affairs?
Jasmine 8 years ago

"now they are talking..."

"now they are talking..."
Kofi 8 years ago

The dwarf is hiding acting like he doesn't know what the fuck the dimwits around him are doing.

The dwarf is hiding acting like he doesn't know what the fuck the dimwits around him are doing.
Onournana 8 years ago

Is this what the idiot and ignorant Kweku Baako called the jackpot? Did this fool able to consider the value of all the minerals involved? Is it because he is impotent and do not care about the future generation? This is NPP ...
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Is this what the idiot and ignorant Kweku Baako called the jackpot? Did this fool able to consider the value of all the minerals involved? Is it because he is impotent and do not care about the future generation? This is NPP for Ghanaians. God save Ghana from these criminals before they sell the people.
Felix 8 years ago

GHANAIANS WILL SOON CRY FOR VOTING FOR THESE GANG OF CRIMINALS. ROGUES ARE IN GOVT.

GHANAIANS WILL SOON CRY FOR VOTING FOR THESE GANG OF CRIMINALS. ROGUES ARE IN GOVT.

Nana Asenso 8 years ago

NDC fools talking without sense. Ghanaians will thank Bawumia forever on this deal. What is the state of our bauxite and iron ore exploitation? Thank God we have a govt that is not going to borrow or use our revenue to pay lo ...
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NDC fools talking without sense. Ghanaians will thank Bawumia forever on this deal. What is the state of our bauxite and iron ore exploitation? Thank God we have a govt that is not going to borrow or use our revenue to pay loans but use our untapped resources to develop the railway system and improve industrialization
Minta 8 years ago

Only difference between NPP and NDC is that, NPP are very intelligent thieves.

When it comes to money, never trust and African politician. At the end of the day, their pockets will be full

Only difference between NPP and NDC is that, NPP are very intelligent thieves.

When it comes to money, never trust and African politician. At the end of the day, their pockets will be full
Patriot 8 years ago

If you want to develop as a country you have to take risks and the $19 billion Chinese facility is one like that. All that needs to be done is for government to ensure that probity and accountability reins supreme in the proc ...
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If you want to develop as a country you have to take risks and the $19 billion Chinese facility is one like that. All that needs to be done is for government to ensure that probity and accountability reins supreme in the process. Jobs are certainly going to be created, and many of them. The railways alone will create more jobs and pay for itself. Ghana is not going to give China the freedom to mine all the bauxite in the country. They would be given a portion that would be equivalent to paying back the loan, the bauxite would be processed and smelted here in the country and even more jobs would be created. This is not era of create, loot and share so Ghanaians must rest assured that there would be value for money. If we object to the facility we stand to lose and to wait for another century to get anything like that.
Nokwere nti 8 years ago

We have to sacrifice something today and gain it tomorrow. You can't prepare Omlet without breaking eggs.
How and why do banks lend money to people? We can't eat our cake and have it.

We have to sacrifice something today and gain it tomorrow. You can't prepare Omlet without breaking eggs.
How and why do banks lend money to people? We can't eat our cake and have it.
Donald Duck 8 years ago

Are we serious. Loans are not grants. The mainly benefit the lender. Have you taken a bank loan before. You literally work for the bank. So you take alone for things that are of critical importance to your growth strategy and ...
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Are we serious. Loans are not grants. The mainly benefit the lender. Have you taken a bank loan before. You literally work for the bank. So you take alone for things that are of critical importance to your growth strategy and repayment. You don't keep crying about what the lender gets in return. China is not going to lend to Ghana with their taxes and expect Ghana to use German machinery and lazy unproductive workers who can't be disciplined. We will complain about racing salaries and I'll treatment every month whilst interest piles on. They will use Chinese who are productive and modest in their salary expectations and don't go on strike so that they can meet tight deadlines and minimise cost over runs. We are not a serious country. And we don't have a serous media. If we had labour that was more productive and less expensive there will be no need for a Chinese worker. Even our private sector companies are not serious. They can't deliver anything on time and within budget. Why would the Chinese risk precious money on local content. The truth hurts but must be told in plain language.
FOR 8 years ago

The NDC think that there would be nothing left in case they chance to win an election.

The NDC think that there would be nothing left in case they chance to win an election.
Sueto Sade Kodjo 8 years ago

Nana be bold and implement your policies don't mind those Lucifa people but without solution while the ordinary Ghanaian suffer enduring hardships crossing the Sahara and Mediterranean dying Nana be bold and implement your pr ...
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Nana be bold and implement your policies don't mind those Lucifa people but without solution while the ordinary Ghanaian suffer enduring hardships crossing the Sahara and Mediterranean dying Nana be bold and implement your programme God bless you
Ghanaman USA 8 years ago

When we were growing up, we never knew China. We knew our traditionally honest partnerships with the west that was not built on economic fantasies and sleazy baits. We had all sorts of cooperative agreements that brought is ...
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When we were growing up, we never knew China. We knew our traditionally honest partnerships with the west that was not built on economic fantasies and sleazy baits. We had all sorts of cooperative agreements that brought is Danida, German Development Agency, Korean International Cooperation Agency and others with USA, UK, France, Netherlands etc that led to massive injection of developmental financing without the tragedies that Chinese loans engender. How come that all of a sudden we are just joining the corrupted bandwagon of the Chinese that seeks to exploit us?
Ghanaian Love 8 years ago

Is this what NPP has promised us ???mortgaging our natural resources on what terms and conditions ? Instead of exploiting and adding value in Ghana ? We are finished ! Dr. Manteaw is Right

Is this what NPP has promised us ???mortgaging our natural resources on what terms and conditions ? Instead of exploiting and adding value in Ghana ? We are finished ! Dr. Manteaw is Right
KOFI NSOWA 8 years ago

It is a bad deal. That is the neo-colonialism that Dr Kwame Nkrumah talked about and warned Africans to desist from. Using Ghana's natural resources as collateral for a loan is an outright sellout of Mother Ghana. Parliament ...
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It is a bad deal. That is the neo-colonialism that Dr Kwame Nkrumah talked about and warned Africans to desist from. Using Ghana's natural resources as collateral for a loan is an outright sellout of Mother Ghana. Parliament must reject the loan. Ghanaians must oppose it.

Free SHS 8 years ago

Chinese loans should not benefit China? That is why ghana has given out a lot of loans to benefit others; in ghana benevolence is the strategy. During festivities you give money, freebies. Etc. of course Chinese loans will be ...
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Chinese loans should not benefit China? That is why ghana has given out a lot of loans to benefit others; in ghana benevolence is the strategy. During festivities you give money, freebies. Etc. of course Chinese loans will benefit china Isis wrong?
i love Gh 8 years ago

Akuffu Addo and his mernace called the ndc government incompetent because we borrowed money .. Ghana is owing 35 abt billion dollars since Nkrumah's time . You people have borrowed like 24 billion dollars in less than a year ...
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Akuffu Addo and his mernace called the ndc government incompetent because we borrowed money .. Ghana is owing 35 abt billion dollars since Nkrumah's time . You people have borrowed like 24 billion dollars in less than a year in office . How ironic ... I thaught the vice president said Gh has money and we won't be borrowing again.... This government is very deceptive , it all tlk . How can you guys support someone who reduce fuel prices, increase lorry fare and reduce plane ticket ... Most people don't see this but it like taking from the poor to feed the Rich .
MAD RAPPER 8 years ago

I dont like npp but i agree this is the way to go. we should be lying in bed with china, iran and russia not the evil west

I dont like npp but i agree this is the way to go. we should be lying in bed with china, iran and russia not the evil west
kofi pra 8 years ago

ISODEC is a lap dog of the Breton Wood institution and their development prescription of structural adjustment. This Chinese loan is a shift from repayment of loans in US dollars to supply of our raw materials. The difference ...
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ISODEC is a lap dog of the Breton Wood institution and their development prescription of structural adjustment. This Chinese loan is a shift from repayment of loans in US dollars to supply of our raw materials. The difference is that our repayment capability is insured against export earning fluctuations and dependence on the US dollar
This was the finance strategy of the industrial investments of the CPP government of the first republic that were frittered by phony privatisation to de-industrialize our economy.
Amma 8 years ago

I am surprised that government did not consider the national sentiment around Chinese before doing this deal. they could have gone to any other country, why China, especially now that we are trying to get rid of the Chinese i ...
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I am surprised that government did not consider the national sentiment around Chinese before doing this deal. they could have gone to any other country, why China, especially now that we are trying to get rid of the Chinese in the same sector they are giving them consessions in. And what about the other ills that the Chinese have cost this country; fake goods, fake medicines, illegal arms proliferation etc...? Governing includes ensuring that Ghana benefits not just economically, but is protected socially too. Lets not forget that! In fact, why did the government not solicit this deal from Ghanaians first before looking outside, and even then, why not Africa second before going outside the continent. Talk is cheap!
AFUA 8 years ago

i thought npp said it will not go for loan to develop Ghana and that the money is in the country.

i thought npp said it will not go for loan to develop Ghana and that the money is in the country.

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$19bn Chinese loan will benefit China – ISODEC warns

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