The Managing Director of HFC bank, Robert Le Hunte is optimistic the incoming Nana Akufo-Addo government will continue with the plans laid down by the Ministry of Finance in paying the legacy debt.
[contextly_sidebar id=”OTOIRDFyjNN3nxpgkxIQxGakAeAtZWaJ”]According to him, the change in government should not in any way alter the process already agreed on to pay the affected banks.
“I think that’s part of maturity as a government and when a government makes a decision; it’s not within the individual’s might but the whole country. I think the money owed in the legacy debts have gone through a number of iterations, discussions and audits and it was agreed upon as such I expect the commitments made by one government will be carried forward to another government,” he told Citi Business News.
The Ministry of Finance, the Ghana Bankers Association, and the Bulk Oil Distributors met in August this year to roll out plans to pay the 4.4 billion cedis legacy debt owed to some banks in the country.
An initial amount of 250 million cedis has since been made from the energy sector levies.
In September this year, government made the second round of payment to the banks from the energy sector levy.
Mr. Le Hunte further intimated it will be important to continue the process since it will bring some relief to the banks.
“So I am hopeful we are not going through a whole series of new audits regarding the BDC debts, I am fully optimistic,” he added.
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By: Lawrence Segbefia/citibusinessnews.com/Ghana