The opposition New Patriotic Party(NPP) borrowed 750 million dollars from the International Financial Market in 2007, and despite this huge amount borrowed, it failed to allocate 1 dollar of this amount to pay for the gang of four road project, Transport Minister Fiifi Kwetey has said at the governing National Democratic Congress’ Setting the Records Straight forum.
Mr Kwetey accused the NPP of misplaced priority in the economy in respect of its foreign loans acquired at the regime of former President Kufuor.
He said the NPP’s priority in 2008 after they borrowed in 2007 was procuring pre-paid meters, buying locomotives when they had not even built a centimeter of Railway line and using part of that money when they were hot in November 2008, to pay salaries.
“This was at the time where NPP critically needed to get money for this gang of four roads. But that was their priorities,” he added.
Comparing the feats achieved by the NDC government to that of the opposition NPP with regards to foreign loans, Mr. Kwetey said:” because NPP was so wasteful with foreign loans the party somehow wrongly assumes NDC has the same problem. No!”
He stressed that the NDC rather have a great track record of using foreign debts to invest in meaningful projects to power growth in the economy.
The following are just a few example Mr. Kwettey cited in the Press conference he addressed Thursday.
1.The Gas processing Infrastructure is not a debt; It is a massive investment.
2.The Kwame Nkrumah Circle Interchange is not a debt; Its a massive investment
3.The Kpone Water Expansion project is not a debt; Its a massive investment
4.The Tamale Airport Expansion project is not a debt; Its a massive investment
5.The University of Ghana 617-bed Teaching hospital is not a debt; Its a massive investment
6.1.5 billion Dollar Tema Port Facility is not a debt; Its a massive investment.
Source: kasapafmonline.com
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Empty barrel. What you have explained doesn't make sense period.
OH FIFI KWETTEY !!!!!!!!!!; so why do you confuse DEBT and INVESTMENT because they are not the same ; if you invest in projects the assumption is that these projects will yield some reasonable social benefits and dividends ; social benefits from some cannot be quantified but the benefits of some projects can quantified through monetary gains ; the key ingredients are therefore cost and benefits ; all the projects you have listed have a cost base of debts which must be paid back to the lenders; debts are not free monies this includes the principle and interest on each project which if raised from your own resources is not debt but if raised through borrowing represents debt to be paid at a later date .
BARR YOU MASTER, ***barred word*** ***barred word*** CHIEF PROPAGANDIST OFTHE RULING GOVERNMENT, NDC PARTY ***barred word*** FUUUUUUULISH EWE MAN, SHAME UNTO YOU AND FULLLLLLLLLLLLISH PRESIDENT JOHN DRAMA MAHAMA GO GO AWAY GO AWAY AND GO GO GO AWAY AWAY CORRUPTION GALORE AT ALL OVER PLACE. CHIEF LIAR FIFI KWATEY.............WILL SLAP YOUR ***barred word*** FACE SWIN YOU FULLLLLLLLLLISH PROGANDIST MAN. I REST MY CASE LATER, I WILL INSULT JULIUS DEBRAH, JOHN DRAMA MAHAMA, THE VICE EMISSAH AS WELL, WAIT FOR ME OHHHHHHHHHHHH SHITPETIEEEEEEEEEEEEEEEEEEEE
Jonathan lagos ,it seems u have an empty no brain like ur President
Is that all, Fifi? doesn't VR NDC have a better representative with economic thinking to respond to Bawumia's analysis? Yiee. Is this what Kpee and St are hiding behind?
INCOMPETENCE INCOMPETENCE INCOMPETENCE GALORE. GANG OF FOUR ROADS, CNTICI LOANS, HOTEL WAAAAAWAAAA, GOLD CHAINS, HIPC TOILETS, COCAIN TURNS INTO POWDER, SIGNING DOCUMENTS WRITTEN IN FOREIGN LANGUAGE, PINK SHEETS, YOU AND I ARE NOT THERE. ETC..... THOSE ARE THE ACHIEVEMENTS OF THE NPP. TO BE CONTINUED.
What the one of GYEEDA and the one of WOYOMME your native TIFFF man who stole our money Meant for free Education Ghanaians are wide awake. Begin to write your handing over notes Eediots !!!
They can hear the voice of opposition calling them. They are grasping at straws trying to pin anything on NPP. In the words of Akuffo Addo our next president come Jan 2017, it will not work!!!
WE CANT FIND THESE PROJECTS ON THE GROUND O,THEY ARE ONLY ON YOUR PAPER WAI!
THE PALPABLE FALSEHOOD UNDER THE SO-CALLED SETTING THE RECORDS STRAIGHT WILL NOT WORK THIS TIME. THE STRATEGY IS OVER FLOGGED SO VERY SOON, YOUR REGIME WILL COME TO A END.