{"id":327478,"date":"2017-06-11T15:34:36","date_gmt":"2017-06-11T15:34:36","guid":{"rendered":"http:\/\/citifmonline.com\/?p=327478"},"modified":"2017-06-11T15:34:36","modified_gmt":"2017-06-11T15:34:36","slug":"ofori-attas-response-on-2-25bn-bond-issue-disappointing-pelpuo","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=327478","title":{"rendered":"Ofori-Atta\u2019s response on $ 2.25bn bond issue disappointing \u2013 Pelpuo"},"content":{"rendered":"

The National Democratic Congress (NDC)\u00a0legislator for the Wa Central Constituency, Rashid Pelpuo, has described as disappointing the Finance Minister\u2019s response to the<\/strong> <\/span><\/a>Minority\u2019s request for disclosure of details on the controversial $2.25 billion bond.<\/p>\n

The Minister of Finance, Ken Ofori-Atta, had taken a swipe at the Minority in Parliament over the issuance of the $2.25 billion domestic bond, saying they lacked understanding of the actual processes involved.<\/p>\n

[contextly_sidebar id=”8WFtdWp7jii7qiWCgyOKsdgGMDXnXUd5″]\u201cIt may be tempting to say that the apparent attempt to manufacture some form of integrity deficit is generally borne out of a lack of understanding of the actual process on the part of the manufacturers. But, that may be deemed too charitable, considering the CVs of some of the personalities involved,\u201d he said.<\/p>\n

The Finance Minister made the comment on the Floor of Parliament on Wednesday, when he was summoned before the House to explain processes leading to the issuance of the $2.25 billion bond.<\/p>\n

But speaking on Citi FM<\/strong>‘s News Analysis Programme, The Big Issue<\/strong>, Mr. Pelpuo slammed Mr. Ofori-Atta for his comments, saying he failed to specifically meet the Minority’s demands.<\/p>\n

\u201cThe Finance Minister came to Parliament, and set his own questions and did his own thing. In fact, I was very disappointed\u2026He did not respond to the issue of conflict of interest.\u201d<\/p>\n

According to him, although the Finance Minister was \u201casked specific questions\u201d, he refused to respond and \u201csimply spelt out the rules to the Minority.\u201d<\/p>\n

\u201cHe brought a 2016 manual to speak to us and that was written by Seth Terkper. All that he came to say was not necessary at all. We did not know what he wanted to achieve.\u201d<\/p>\n

Concerns have been raised especially by the Minority about the transparency of the $2.25 billion domestic bond government issued, with some noting that the apparent secrecy over the deal fueled the allegations of conflict of interest against the Finance Minister, Ken Ofori Atta.<\/p>\n

The Minority in its conflict of interest allegations, said a non-executive director on the board of Investment Firm, Franklin Templeton, who purchased 95 percent of the $2.25 billion bond, is also the Chairman of the Enterprise Group, which has links to the Attorney-General and the Finance Minister.<\/p>\n

The Minority eventually called for a full-scale parliamentary probe into the bond issue. It also petitioned the United States Security Exchange Commission to probe the deal they believe was secured to benefit cronies.<\/p>\n

–<\/p>\n

By: Marian Ansah\/citifmonline.com\/Ghana
\nFollow @EfeAnsah<\/a>
\n