Ato Forson asks Bawumia to come clear on economy debate

Ato Forson asks Bawumia to come clear on economy debate

Cassiel Ato Forson, the deputy finance minister has asked Mahamadu Bawumia the vice presidential candidate of the opposition NPP to stop making comments and allegations that potentially do sabotage efforts being made to improve the economy.

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Bawumia has been accused of deliberately releasing very alarming statements to create unnecessary panic within the business and investment community.

Ato Forson was reacting on Okay FM to a recent allegation spearheaded by the former deputy governor of the Bank of Ghana that the government had diverted 250m of the one billion dollar Eurobond into a private account for the 2016 campaign.

He claimed that Bawumia and the NPP most often, deliberately throw dust in the eyes of the public without taking cognisance of the fact that investors listening to their comments and debate about the economy reacted accordingly.

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“First I heard many of them referring to the 2015 Eurobond. But that is false. The amount was taken from the one billion dollars raised on the market in 2014. The prospectus was clear on $250 million to be set aside for the Ghana Infrastructure Investment Fund. The law that established the GIIF is clear. The managers have the mandate to invest and I can say on authority that it was the cedi equivalent that was lodged at the UBA account.”

He stated that the Bank of Ghana does not pay interest on government money as opposed to what pertained in the Central Banks of other countries who pay interest and therefore intend to review the existing law in Ghana.

Ato Forson stated that Bawumia and NPP were rather mixing two issues; the Public Fund and Central Government Fund.

He said Public Funds included monies earmarked for state owned enterprises while the Central Government Fund are basically budget revenues paid into the consolidated fund for payment of salaries and projects and therefore challenged him to read the laws establishing the Ghana Infrastructure Investment Fund (GIIF).

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Meanwhile, Abdul Nashir Issahaku, the governor of the Bank of Ghana had on Monday, dismissed Bawumia’s allegations that the Ministry of Finance contravened section (53) of the BoG Act 612 when it transferred 250 million dollars of the 1 billion dollar Eurobond proceeds to a private account.


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