Chinese deal won’t affect IMF program – Lawyer


Chinese deal won't affect IMF program - Lawyer


Senior Partner at AB & David has rejected claims that government’s decision to seek infrastructure funding support from China will disrupt the external credit funding program with the International Monetary Fund (IMF).

David Ofosu Dortey believes the deal must be probed to ensure it is used for the intended purpose.

He said this in an exclusive interview with Joy Business after addressing the second day of the Ghana Economic Forum in Accra. 

The Minority in parliament has petitioned Fund on whether the barter agreement with Chinese Synodydro is a loan or otherwise.

According to them, the deal is likely to interfere with the program Ghana is currently running with the IMF.

Commenting on the development, David Ofosu Dortey said government should be checked on what it intends to utilize the funds for.

Ofosu Dortey said, “the agreement is a good deal to the extent that we can pay back. I think paying back is more important and how faster we are implementing the value addition of the bauxite.”

“The IMF program is monitored on a constant basis and that is why I disagree with the argument that the agreement is not beneficial. 

“As for IMF, because we have a program with them they will always do their periodic monitoring so I find it difficult to understand why anybody would be speaking for them” he noted.

He also rejected the claim that China is using its financial support to colonized African countries.

For his part, President of the Ndoum Group, Dr Papa Kwesi Nduon said the solution to the country’s development problems will be solved if efforts are made to decentralise the government operations.

The two-day conference is expected to close with a recommendation from the private sector on ways to better manage the economy.

 

 

 

 





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