An Economist, Dr. Ebo Tuckson is cautioning the government of Ghana not to join the Asian Infrastructure Investment Bank (AIIB) by the Chinese government without careful consideration.
[contextly_sidebar id=”KxiIzIRvlzd1LSBjhbTIClHcl2Mqs7hb”]According to the economist, the government should tread cautiously and appraise itself with all the conditions for the AIIB before taking the final decision to either join or not.
China has attracted some 57 countries Britain, Sweden, Portugal, Sweden and Saudi Arabia to join in establishing the AIIB for development projects.
Global membership was welcomed by Beijing. But Washington criticized certain aspects of the project and distanced itself.
Earlier there have been calls from some diplomats that Ghana should join the Asian Infrastructure Investment Bank since it presents better and flexible opportunities than the International Monetary Fund (IMF).
He said the Chinese do not give free money.
“Am not too sure if the Chinese are any better, please we need to be very careful as I have seen and read on certain loans that Ghana has contracted from china and I don’t think their conditions were any better.In any case am not saying that Ghana should not join at all cost and also don’t want Ghana to join because these highly advance countries wish to join because they would join for other reasons either than support and for us we will be going there with the expectation that whatever support that the IMF would be giving us the Chinese Asian bank is going to be an alternative and we are going to seek support from them as Germany would not seek the sort of support we will seek from them so we should be very careful,” he said
The Asian bank was proposed by China in 2013 and launched at a ceremony in Beijing in October 2014.
The Articles of Agreement (AOA) would be finalized and open for signature Prospective Founding Members (PFM) which currently stands at 57 countries from June 2015.
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By: Norvan Acquah – Hayford/citifmonline.com/