Finance Minister wont' resign - Kwarteng

Finance Minister wont' resign - Kwarteng

- Kwaku Kwareteng has rejected calls for the finance minister to resign over alleged conflict of interest

- He says Ken Ofori-Atta did not err in issuing 95% of a $2.5 billion bond to Franklyn Templeton Investment Limited

- He says the minority in parliament should go to court if they think a crime has been committed

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Kwaku Kwarteng, a deputy finance, has rejected calls by the minority in parliament for the finance minister, Ken Ofori-Atta, to resign his position.

Finance Minister wont' resign - Kwarteng

ken Ofori-Atta, finance minister

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The minority members say Mr Ofori-Atta benefited personally when he issued a $2.5 billion government bond.

According to them, Ofori-Atta sold 95% of the 15-year bond to the US-based firm, Franklyn Templeton Investment Limited, which they say had private dealings with the finance minister.

They accused the minister of conflict of interest and asked him to resign.

But his deputy, Kwarteng, has rallied to his aid and has rejected the calls for his resignation.

He denied the minority's assertion that the minister was wrong to sell 95% of the bonds to Franklin Templeton.

The deputy minister said the US company had purchased bonds in Ghana in the past, including during former president John Mahama's tenure.

Kwareteng added that the bond was issued by the Bank of Ghana (BOG) and that the process leading to the issuance was the same traditionally despite change of government.

He, therefore, called on the minority to head to court if they believe a crime has been committed.

“If anybody says that the finance Minister or some Ministers have friends or have interest in any company and they think is conflict of interest…I have heard that they say they’ll seek parliamentary enquiry or they will go to CHRAJ or they will go to court. I support whatever anybody wants to do.

“I think in the end…the truth will come out and going forward we will be guided by the truth,” he said.

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