The Minority in Parliament says it is heading to the International Monetary Fund (IMF) to seek clarification on the $2 billion Chinese bauxite deal presented by the New Patriotic Party (NPP) government.
Parliament in July approved a Master Project Support Agreement between Ghana and a Chinese firm, SynoHydro Corporation, for the provision of roads, bridges, interchanges, hospitals, housing, rural electrification in Ghana.
Per the agreement, the Chinese firm, SynoHydro Corporation will provide a $2 billion infrastructure in exchange for Ghana’s refined bauxite.
Speaking to Ekourba Gyasi on Atinka AM Drive, a member of the Finance Committee in Parliament and Member of Parliament for Ho Central, Benjamin Komla Kpodo explained that the revenue from the bauxite which is been exchanged for the projects belongs to Ghana hence the need for further clarifications.
He added that although the amount involved is supposed to be a barter, the Majority in the contract details agreed to pay the amount involved in case the bauxite revenue is not enough to pay for the barter.
“If it is our revenue which is going to be used for the work outlined then it is essentially a loan, and if we do not realize enough bauxite to give them then the tax payer will have to settle the debt. That means it is a loan”, he reiterated.
A former Chief Executive Officer of the State Enterprises Commission, Dr. Camynta Baezie, has also asked the NPP administration to review the $2 billion Chinese bauxite agreement.
Ghana | Atinkaonline.com | Vivian Adu Boatemaa