{"id":312732,"date":"2017-04-21T10:53:13","date_gmt":"2017-04-21T10:53:13","guid":{"rendered":"http:\/\/citifmonline.com\/?p=312732"},"modified":"2017-04-21T10:53:13","modified_gmt":"2017-04-21T10:53:13","slug":"minority-ignorant-about-2-2bn-bond-they-must-read-bawumia","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/04\/minority-ignorant-about-2-2bn-bond-they-must-read-bawumia\/","title":{"rendered":"‘Minority ignorant about $2.2bn bond; they must read’ \u2013 Bawumia"},"content":{"rendered":"

The Vice President, Dr. Mahammudu Bawumia, has expressed shock at what he calls the ignorance of the Minority in Parliament over their allegations on the recent $2.2bn bond<\/strong><\/a><\/span> issued by the government.<\/p>\n

According to him, the Minority\u2019s position on the matter clearly shows that they are uninformed.<\/p>\n

[contextly_sidebar id=”OFSOeQcnCKMsYkYPvtkySJ3Q3zuZgSnw”]The Minority in Parliament have accused the government of setting the terms of the bond<\/strong><\/a><\/span> to favour some friends<\/strong><\/a><\/span> of the Finance Minister, Ken Ofori Atta.<\/p>\n

But in an interview with the Head of\u00a0Citi Business News Desk<\/strong>, Vivian Kai Lokko in Washington, Dr. Bawumia said the members of the Minority need education on the subject to fully understand it.<\/p>\n

\u201cIt shows a lack of understanding. The minority have never understood this economy. And it is just amazing that people on that side who were actually in charge of managing the economy will be making such statements. It shows ignorance\u2026 and I am so sad when I hear that from people who should know better. They need to understand. Maybe they should read a little,\u201d Dr. Bawumia said.<\/p>\n

“This is what politics has been reduced to. Trying to say things which really have no basis and basically wrapped in ignorance.\u00a0 So I am a bit sad for Ghana and for them, because they are really demonstrating a lot of ignorance in the process of managing this economy,\u201d he added.<\/p>\n

\n

Government on Monday April 3, 2017, announced it was successful in the auction of a total of 2.25 billion dollars in four bonds.<\/p>\n

The first two bonds, totaling 1.13 billion dollars, was issued at 15 and 7 years period with the same coupon of 19.75%.<\/p>\n

In addition, the Ministry of Finance raised the cedi equivalent of USD1.12 billion in 5 and 10 year bonds via a tap-in arrangement.<\/p>\n

But the Minority in Parliament argued that the rate at which the bonds were issued was relatively high because the Finance minister had private interests in it, alleging that the company that purchased 95% the bond had close links to the Minister’s private business.<\/p>\n<\/div>\n

–<\/p>\n

By: Jonas Nyabor\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

The Vice President, Dr. Mahammudu Bawumia, has expressed shock at what he calls the ignorance of the Minority in Parliament over their allegations on the recent $2.2bn bond issued by the government. According to him, the Minority\u2019s position on the matter clearly shows that they are uninformed. [contextly_sidebar id=”OFSOeQcnCKMsYkYPvtkySJ3Q3zuZgSnw”]The Minority in Parliament have accused the […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10,11],"tags":[6403,6404,3],"yoast_head":"\n'Minority ignorant about $2.2bn bond; they must read' \u2013 Bawumia - Citi 97.3 FM - Relevant Radio. 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