Stop the reckless Chinese loans – Ayariga warns Nana Addo

Stop the reckless Chinese loans – Ayariga warns Nana Addo

Hassan Ayariga, the founder and leader of All People's Congress (APC) has called on President Akufo-Addo to be wary of the incessant loans its contrac

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Hassan Ayariga, the founder and leader of All People’s Congress (APC) has called on President Akufo-Addo to be wary of the incessant loans its contracting from China.

He said loans from China have serious implications and it is evident around the world.

“China is taking over African countries of which Ghana will be the next country to enter into a reckless agreement with China,” he said at a press conference organised in Accra yesterday.

“President Nana Addo Dankwa Akufo-Addo whilst in opposition said: “Ghana Yay3 morbor dodo. Y3ti sikasu nanso 3kom diy3n’. What has changed?” he queried.

The government of Ghana led by President Akufo-Addo went to China recently to negotiate a 100-year bond agreement with China worth about $50 billion.

According to Ayariga, China was gradually taking over the African continent, a situation he warned, Ghana must be guard against.

Listing different incidents of bad Chinese loans across the world, Ayariga said:

“Malaysia cancelled Chinese speed train loan contract this year and opted for a costlier Japanese electromagnetic rail. Because all Chinese grants require collateral with state critical assets”.

“Singapore bluntly told China we don’t need your 25 years tenure loan at 0.5%”.

“Greece handed China a national asset last year on default, and European Union took measures to stop any further member country from taking Chinese loans”.

“Sri Lanka had to cough out a port to China in similar circumstances”.

“Zimbabwe is the second African country to default and will soon hand over a national asset”.

He described as pathetic how China was re-colonising Africa by appealing to the ignorance and selfish interests of her leaders.

Mr Ayariga, who expressed worry over the development, noted that in all these loans, no single dollar cash was handed over to the countries involved.