A financial analyst and CEO of SEM Capital, Dr. Sam Mensah, has said that Ghana needs to raise its credit ratings as an alternative to facilitate any form of borrowing especially on the capital market.
He made the assertion during a roundtable discussion organized by the Danquah Institute and partnered by the World Bank and Citi FM on the three billion Chinese loan facility, which has been contracted by the Ghana government for various development projects.
The Danquah Institute in collaboration with its media partners, Citi FM and Hot FM, is holding a forum on the $3 billion Chinese loan on Tuesday, 18th October 2011.
The forum is similar to the one organised by the institute which scrutinised the STX Housing project where serious objections were raised with regards to certain aspects of the loan. These objections resulted in major changes being made to the agreement, and has subsequently saved this country billions of dollars.
It has been revealed that Ghana has an unlimited access to the United States Exim Guarantee Bank and thus can access any amount of loans it requires for embarking on developmental projects of the country.
Mr Ryan Bowles, the Chief of the Economics Section at the US Embassy in Accra made this known in a discussion with the Executive Director of the Danquah Institute, Gabby Asare Otchere-Darko, at a roundtable discussion organised by DI to discuss the $3 billion Chinese loan facility.
I thank the organisers of this programme, executives of the Tertiary Education Students Confederacy (TESCON) of the NPP of both the Institute of Professional Studies (IPS) and the Accra College of Education, for the opportunity to speak to you this afternoon.
I congratulate the outgone executives of IPS TESCON for their service, and commend the new ones for their offer of service. I am happy that, today, we are inaugurating formally the TESCON branch of the Accra College of Education.