BY : DARI KWABENA MATHEW (+233555395925)
Embattled Finance Minister, Ken Ofori Atta has been chided for delaying in the payment of matured coupons of existing bonds.
According to a convenor of the Individual Bondholders Forum, Martin Kpebu, the Finance Minister is abusing his power and office by refusing to pay matured coupons.
“Today 6th February as we speak about 4.5 billion of the bonds are due and there are individuals in it. If you think that there is any reason why segregating individuals from others will be a problem, speak to us. The Finance Minister has said nothing to us,” he noted.
Speaking in an interview, Lawyer Kpebu said Mr. Ofori Atta promised to honour all existing bonds, therefore he should communicate if there are challenges.
“If you think there are operational challenges or whatever, we have leadership or even if you don’t need to call leadership, make an announcement but he said nothing but they put in the info memo that the second to the bond exchange programme that they are not paying any principals and coupons due. How do you make such a huge u-turn? Why is Ofori-Atta abusing his office like that?” he quizzed.
“[Mr Ofori-Atta] can’t behave as if the Finance Ministry is his personal property. This is governance,” he fumed.
According to Mr. Kpebu the finance minister would be called out to ensure he fulfill his promise to those whose bonds have matured.
In other news, the Dean of the University of Cape Coast Business School (UCCBS), Prof. John Gatsi says nothing shows that the Ghanaian economy will crash without securing an International Monetary Fund bailout contrary to claims by Mr. Ken Ofori Atta.
The Finance Minister on Monday, February 6, told pensioner individual bondholders that without the participation of identified groups for the Domestic Debt Exchange Program Ghana’s economy will collapse.
But Mr. Gasti said the Finance Minister is painting a picture as if the nation is at war hence everybody should sacrifice.
