Is developing aid ( loan) good or bad?

To start with, I will like to say no country attained growth or developed to what we see today only by borrowing

Ghana always borrow, is not even a secret. and how many Ghanaians stop for a moment and ask themselves what the money is used for, and why those giving the loans are silenced on the fact that the loans are mismanaged by our leaders . We see benevolent projects everywhere, but the country issuing the loans refuse to ask how the money is been spent but we often hear we’re helping Africans grow, which growth are they talking about?

The resources curse is real and is good we know about it.
The problem we’ve as a country is, our country is rich in natural resources, so automatically the government doesn’t care taxing the citizens for developmental projects. and that hurts our country growth. Lack of jobs, not investing in infrastructures. because of the fact that our country is rich in natural resources, and outsiders are willing to pay our leaders any amount to get those resources.

One is borrowing, the west giving us loans. which they call it aid loans, but I will have to disagree. because is directly put into corrupt tyrant leaders hand without any accountability from the country giving the loans

So the west has become an oppression regime, because if you give loans to a country where it citizens cannot hold you accountable and you’re fully aware that the leaders are corrupt, you’ve directly disempower the citizens from holding their government accountable on how those loans are been spent.

What I was expecting to see is, the country issuing the loans will be accountable to the citizens of the country receiving the loans and the citizens on how the loans is been spent, but I don’t see that happening. And the end result is , we’ve a country that has embraced democracy but the citizens rights are been ignored , which in return is fueled by outside force who claim to help

So aid loans is doing more harm than good to our country , I wish things were a little different

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You can’t blame them for lending money? The lend money to get benefits/profits, it’s good business for them, whatever we do with the money we borrow, naturally isn’t their cup of tea provided they get profits from giving out money, why should they care? It’s our people you should be bashing.

There’s internal contradictions built into it and that’s why this way of doing business is still running. but we need to understand that there’s a problem that needs attention.
Because a few chosen people cannot put millions of people into debt, is a race to the bottom for them for both sides involved to enrich themselves and their relatives and save something for themselves, whiles the majority are left to fence for themselves

Why should a loan donor care about what the loaned monies are being used for? They didn’t just give out the loans without having something of ours in return, right? So far as we meet the requirement of acquiring the loan, it’s our responsibility to use it wisely, not them. In the case of Grants, perhaps the donor might have a say but not a loan. My financial advisor @Yahyra can tell us a bit about this since he is Banking and Finance expert. :smiley:

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During Covid period , Africans didn’t get access to any funds when many other nations where getting money to get through the volatility of the economy collapsed . That should tell you that the loans we get is granted to us as a form of charity with interest on it

So they’ve an obligation to account for on how the money is been used but it means well for them, if our leaders squander the money, because we’ll forever depend on them

Oh really? I thought we a had so much money and support from the developed countries and agencies like the USA and WHO.

So our leaders must do the needful by not squandering the loans. It’s on us, not them.

That’s utopia, it never existed

If you’re giving money on the basis of aid, I should be accountable on how the money is been used. Think about it

I perfectly understand your point but there’s something I want you to know; the is no thin line between our leaders and the so-called donors. The truth is when our colonial masters were leaving, they left their shadows (current African leaders) behind. In the nutshell, we thought we had gotten rid of the hyena not knowing they’d been replaced by foxes. Our current leaders are nothing other than mere puppet slaves to the west. There are few African leaders currently that are not puppets but that is another topic for another day.

Unfortunately, the average African electorate is blind to this reality. Our stupidity is their opportunity.

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Is something hidden, but always present
This continues to explain why the west is always meddling in our affairs as a country, because even the current president is under enormous pressure to do what the colonial masters wants. So Ghana is not for Ghanaians, but is remotely controlled form the west.
Is sad, I hope Ghanaians will wake up from their sleep and realize what’s truly going on

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That is why our father Nkrumah said "is either Africa unit or perish "

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Even he himself did much damage to the continent
He allowed the west to established their institutions in Ghana, all those education system, the health care system. If you look at it from a different angle, those things are alien to us. Is not something natural for us as Africans.
Today we don’t have a sense of culture anymore, all our natural way of curing disease is washed away by the western world ideologies. If we are surprised why we’re suffering as a people, I think this a good place to start @niiayibontey

Nkrumah inherited an education system that was based on theory and a service based economy and he transformed our service based economy into an industrial economy and our theory based education system into a practical one.

It is rather unfortunate that successive governments who came after Nkrumah restored the Gorgisburg educational and economic systems. Our way of life was taken away from us by the slave master, Nkrumah was only trying to restore our lost values when he met his Waterloo along the line.

We have been brainwashed by the slave master and traitors within us to hate the true patriots of Africa.

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Our previous life was taking away from us by
The colonial interlopers, but kwame Nkrumah did not advocate for our previous way of living, he set us on collision path by further amplifying the western system in Ghana @niiayibontey

Nkrumah was a human hence he made mistakes. He was restoring the African order only to be transacted by local and foreign operatives. :laughing: