According to the Economic Watch Africa, the government would mortgage the country’s industrialization, especially the One District, One factory if it fails to suspend this transaction immediately. “How can we mortgage the country’s export opportunities because of this paltry US$100 million”, the statement quizzes. The US$100 million facility which is just a drop in an ocean would come with so many conditions, which means that everything that GEXIM would do, it has to seek approval from them ”, it said. The Economic Watch Africa is of the strong belief that the US$100million facility cannot finance the country’s export program, arguing that the government needs to look for better alternatives. “The Economic Watch Africa is reliably informed that some senior officials at the Ministry of Finance are being coerced to support the lesser amount which has a shorter tenor and higher interest rate than the higher loan amount.

Source: GhanaWeb January 19, 2020 13:41 UTC