\n
Road contractors working on major roads across the country have served notice that they will return to the various construction sites to proceed with work only when they receive notification that the money owed to them has been deposited into their accounts.<\/p>\n
Their comment follows President Nana Akufo-Addo\u2019s statement that many of the country\u2019s stalled projects will soon resume, thanks to successful negotiations regarding the restructuring of Ghana\u2019s debt.<\/p>\n
Speaking at the presentation of credentials to nine newly appointed diplomats at the Jubilee House last Monday, the President detailed the positive outcomes of the negotiations and their implications for Ghana\u2019s development.<\/p>\n
He said the completion of three major debt restructuring operations\u2014the domestic debt restructuring, the external bilateral debt restructuring, and the commercial bondholders\u2019 debt restructuring\u2014had provided much-needed financial relief and set the stage for a renewed focus on critical infrastructure and development projects.<\/p>\n
\u201cThese agreements have provided the much-needed breathing space and put our domestic debt-to-Gross Domestic Product (GDP) ratio on a clear downward trend,\u201d President Akufo-Addo explained.<\/p>\n
\u201cThe successful negotiations mean that bondholders will provide $4.4 billion in cash flow relief during the IMF Programme, in addition to the cancellation of $4.7 billion of the debt stock,\u201d he added.<\/p>\n
But the National Vice Chairman of the Road Contractors Association of Ghana, Stephen Kwaku Attatsi, in an interview with Daakyehene Ofosu Agyemang, Morning Show Host of New York-based Adinkra Radio, stated that contractors will not be swayed or excited in any way by the comments.<\/p>\n
He added that they don\u2019t consider the President\u2019s statement as good news until they see money hitting their accounts to get them back to the site to work.<\/p>\n
\u201cThere is nothing called good news until what you are expecting you have in your hands. If money is available, why can\u2019t I go to the site? I am a businessman and not an NGO; I am a profitable organization, and I pay tax. So if the government releases money today, why can\u2019t we go to the site? We will go.\u201d<\/p>\n
\u201cWe welcome the whole thing, but construction is a very high capital-intensive work. Some projects take two years to complete, others take 18 months. I don\u2019t know what we are going to do until a change of administration comes. This is not the first time we are hearing such promises from the government, unless they prove us wrong. \u2018Money na hand, and we will resume work.\u2019 Until the government releases money to us, we are not moving to the site to resume construction of roads.\u201d<\/p>\n
Source:\u00a0<\/strong>kasapafmonline.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Road contractors working on major roads across the country have served notice that they will return to the various construction sites to proceed with work only when they receive notification that the money owed to them has been deposited into their accounts. Their comment follows President Nana Akufo-Addo\u2019s statement that many of the country\u2019s stalled […]<\/p>\n","protected":false},"author":1,"featured_media":194084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-194083","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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