The General Secretary of the People\u2019s National Convention (PNC),\u00a0 Bernard Monah has advised government to find other options to finance projects earmarked under the $3 billion China Development Bank(CDB) loan facility.<\/p>\n
Speaking to Citi News<\/strong>, Mr. Monah advised government to \u201clook at other sources of raising money to be able to cover the kind of developmental projects that the 3 billion CDB loan was meant for.\u201d<\/p>\n Government on Tuesday announced its decision to halve the $3 billion loan facility to $1.5 billion.<\/p>\n The Finance Minister, Mr. Seth Terkper on Tuesday explained that unrealistic demands by the CDB compelled government to take the decision.<\/p>\n While others believe it is a step in the right direction, some have argued government could have saved the country millions of dollars from the payment of interest on the loan.<\/p>\n Speaking to Citi New<\/strong>s, Mr. Monah further described the decision as a prudent one.<\/p>\n \u201cIf our legal persons did not look at the agreement and they signed the contract before we even got the loan then I think it is prudent that they have reduced it from 3 billion to 1. 5 million,\u201d Mr. Monah explained.<\/p>\n Meanwhile a member of the Convention People\u2019s Party (CPP) Finance Committee, Ekow Duncan opined that government should have carefully evaluated its options before going for the loan in the first place.<\/p>\n <\/p>\n By: Marian Efe Ansah\/citifmonline.com\/Ghana
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