A financial expert, Dr. Kwabena Ntiamoah, has revealed that China may control Ghana in the near future.
His assertion comes after President Akufo-Addo mentioned that the Finance Ministry is currently is considering borrowing $50billion Bond from China which would be paid over the period of 100 years.
Reacting to the $50Billion century Bond on Happy FM’s ‘Epa Hoa Daben’ with Kwame Afrifa- Mensah, Dr. Kwabena Ntiamoah who is a lecturer at GIMPA and the Valley View University declared that, “It could be true, if you owe someone, they may do whatever they want to you. They know world bond conditions does not favor that is what gives them the chance for controlling. It could happen that if you enter into such a deal and you sell all your properties, you can’t settle”.
Dr. Kwabena Ntiamoah added that, bonds that have been raised over years by Ghana has not been helpful or has never been beneficial to the nation.
“World Bank and IMF loan didn’t help Ghana.Who will say go for a loan and sell your properties to pay? The IMF programs haven’t helped our transport sector, infrastructure and numerous issues.If we go for the loans and we can’t pay, we must sell our properties. If we sell our properties it may not be able to settle our loans” he indicated.
The financial expert, Dr. Kwabena Ntiamoah explained that, the $50billion Bond is now heading to Parliament for deliberations, therefore he will make his final decision after parliament makes a case.
President Nana Akufo-Addo has hinted that the Finance Ministry is considering a $50 Billion Bond from the Chinese.
Meanwhile, James Klutse Avedzi, who is the deputy Minority Leader in Parliament stated that he will lead the Minority to kick against the $50billion Century Bond government is determined to go for.
By: Eugene Baah