Ghana President Akufo Addo has assured his countrymen that the infrastructure deal with China in lieu of bauxite does not mean a compromise with Ghana’s sovereignty. He considers it to be a pure business transaction and the Asian giant is not going to take over various sectors of Ghan’s economy.
The President said to the media on Wednesday, 19 December: “I’m aware about some anxiety among some people that we might be putting ourselves in a position of too much dependency on China. I am determined that we should use what opportunities that there are to raise ourselves out of poverty but there is no chance that I will ever preside over the loss of Ghana’s sovereignty to any foreign country.”
The President has also assured that it will help Ghana to exit from the IMF programme successfully.
Parliament has approved a $2 billion bauxite-for-infrastructure barter arrangement between the government of Ghana and China’s Sinohydro Corporation. The agreement will allow the company to have rights on a fraction of Ghana’s bauxite resources in exchange of the country’s infrastructural development. The fund will be used to provide a wide variety of projects including hospitals, bridges, interchanges, roads, affordable housing, rural electrification, and many other projects in line with government’s development agenda.
After Mr Akufo-Addo’s visit to China, Sinotruk International, China’s first heavy-duty truck manufacturer, has signed an agreement to build an assembly plant in Ghana. These and other deals with China have raised concerns among the citizens about overdependence on China. However, the president assured that Ghana will be benefitted from the deal.
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