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100-yr-Bond for $50 Billion; Don't Sell us into Bondage-Dr Apaak

Written by  Sep 03, 2018
Member of Parliament for Builsa South, Dr. Clement Apaak has taken a swipe at the ruling New Patriotic Party (NPP) over the announcement to float a US$50 billion century bond for infrastructure project. The legislator is shocked because he claims the previous Mahama administration was lambasted by the NPP over the decision by Mr John Dramani Mahama to invest heavily in infrastructure. He is therefore asking if the announcement could be described as joke. President Nana Akufo-Addo has announced that Ghana may soon join the likes of Argentina, Austria and Mexico to issue the rare 100-year bonds to finance national projects. President Addo Dankwa Akufo-Addo announced this at a ceremony in Beijing to sign some eight Ghana-China co-operation agreements. “The Ministry of Finance and the economists in Ghana are looking at floating a $50 billion Century Bond. This will provide us with the resources to finance our infrastructural and industrial development. We are hoping that, at some stage, China will interest itself, and take a part of it as China’s contribution to Ghana’s development,” he told Chinese President, Xi Jinping on Saturday. But reacting to this, Dr Apaak quizzed, ‘’does it make sense to mortgage the future of Ghana for hundred years? Mr. President? Mr. PRESIDENT, infrastructure is now important? Did you not pooopoh JM for investing in infrastructure? MR PRESIDENT do you know what will happen 20 years from now!’’ Ghana and China on Saturday eight co-operation agreements and memoranda of understanding, in different sectors of their respective economies, aimed at deepening the ties of co-operation and the bonds of friendship that exist between the two countries. The agreements were signed on Sturday September 1, 2018, after the President and the President and Xi Jinping held bilateral talks, as part of President Akufo-Addo’s state visit to China. The agreements are the “One belt one road Memorandum of Understanding”, “Memorandum on Regional Aviation Co-operation”, “Agreement for Co-operation in the peaceful use of nuclear energy”, and “Co-operation to carry out Maternal and Child Health Project”. The rest are “Framework Agreement on Financing Insurance Co-operation” ($2 billion Sino-Hydro deal), “Economic co-operation on Phase 2 project of the University of Health and Allied Sciences, Ho”, “Co-operation on the expansion of the Cape Coast Stadium”, and “Co-operation on the supply of police vehicles to the Ghana Police Service.” Read His full post: What? Tell me this is the biggest joke of the century! GHANA 'PLANS' US$50 BILLION 'CENTURY BOND' TO FINANCE INFRASTRUCTURE AND INDUSTRIAL DEVELOPMENT and the Government of Ghana says what?..."President Akufo-Addo has outdoored a long-term (100 YEARS) idea under review by the government to issue a 100-Year US$50 Billion "Century Bond" to finance infrastructure and industrial development in Ghana during his State Visit to China. The underlying idea is for Ghana is to gradually shift, as we have done recently with stellar results under our 'debt reprofiling' strategy, from short-term, multiple bond issues to a possible single-bullet, long-term debt". Does it make sense to mortgage the future of Ghana for hundred years? Mr. President? Mr. PRESIDENT, infrastructure is now important? Did you not pooopoh JM for investing in infrastructure? MR PRESIDENT do you know what will happen 20 years from now! If I may ask, what will be the population of Ghana, what will be the level of technology, will Ghana even be a democratic state? will Facebook even be alive and viable, will NPP even exist! The questions are many, please add yours! Kai, one hundred years plan and what happened to NDPC? Mr. President don't ridicule your already questionable legacy any further! I remain a citizen! Dr. Clement Apaak MP, Builsa South
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