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Minority vows to delve deeper into Sinohydro deal

By Hagar Ofosua

The Minority leader in Parliament and MP for Tamale South Haruna Iddrisu, has said that his side of the house will continue to be resolute in their request to The International Monetary Fund (IMF), for what he calls more 'Clarification' on the $2billion Sinohygro deal.

 The Minority is arguing the deal could bring further burden on the taxpayer, Speaking on Accra- based JOY- FM, The Minority leader Haruna Idrrisu said,
"The minority shares no regret in asking for further and additional clarification from an independent arbiter, whether or not $2billion being sought by the government will add to government's public debt and occasion additional tax burden with respect of debt servicing. That clarification, we will seek today and we will seek tomorrow." Mr Iddrisu emphasised.

The Tamale South MP further asked government to be candid to Ghanaians with regards to deal between Ghana and Sinohydro, adding that the deal is a loan and should be presented as such.

Read Also: Gov't trades Ghana's bauxite for Chinese-funded roads

"They should be candid that we are borrowing, and we will support them to borrow to build infrastructure, and not hide under the guise of a deal, and also strongly and deceptively say that this is not going add additional burden to the debt stock," he said.

Minority in Parliament petitions $2bn Chinese deal

The Minority in a letter dated,10th August 2018 and signed by its Leader, Haruna Idrisu, to the International Monetary Fund (IMF), asked the Britton Woods Institution to stop the Akufo-Addo government from securing $2billion of infrastructural development from Sinohydro.

According to the Minority, such a quantum of money can affect the country's debt, and thereby thwart the efforts of government and the IMF in the management of the country's debt.

Read Also: “Eastern Corridor roads to be completed before end of 2020” – Roads Minister assures

Under the deal, Sinohydro Group Limited of China will provide $2 billion of infrastructure of government's choice in exchange for Ghana's refined bauxite.

Ghana will establish a refinery within the next three years and select its own partner to undertake the refining of the bauxite.
Sinohydro is a Chinese state-owned hydropower engineering and construction company.

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