The minority in parliament has said Vice-President Dr Mahamudu Bawumia’s recent attacks on former President John Mahama betrayed his unpresidential temperament which is unfit for his office.
Former deputy finance minister Cassiel Ato Forson, who addressed journalists at a press conference on Wednesday in connection with the failed GHS6billion energy bond said: “This monumental failure is a classic vote of no confidence in the economy and the economic management team led by the Vice-President of the Republic.”
“I hope that after saying this, the Vice-President, who is known for attacking people does not attack my person. He is occupying the office of the Vice-President so I will plead with him to watch his temperament. His temperament does not befit the office of a Vice-President”, Mr Ato Forson added.
According to the minority, the failure by government to achieve its target of GHS6 billion for the recently issued 10-year and 7-year energy bond is proof that investors have lost confidence in Ghana’s economy.
The amount raised for the paper fell short of GHS1.4 billion at an interest rate of 19.5 percent.
Addressing a press conference on Wednesday, 8 November, the ranking member of the Finance Committee said: “The poor showing of the bond is a vote of no confidence in the Akufo-Addo and Bawumia-led government by the investor community”.
Mr Forson was of the view that when the shortcomings of government are exposed by the minority, Vice-President Dr Mahamudu Bawumia, who doubles as the head of the economic management team rather “runs away from the fact to say: ‘You don’t read’”.
The lawmaker taunted: “The world’s number one reader cannot raise a bond which anybody can do; it is interesting. Ghana’s number one reader cannot even raise a GHS6 billion bond yet he brought something that has put Ghana to shame”.
Mr Forson questioned why parliamentary approval was not sought before the issuance of the bonds and accused government of causing financial loss.
For him, the absence of parliamentary approval turned investors off since, according to him, most offshore investors who are big buyers of Ghana’s bond would only participate in papers that are guaranteed by the government.
Also, he said: “The projected consumption [of fuel] was grossly overstated and overestimated and any analyst in this world who understands the Ghanaian economy will find the assumption [on which the bonds were being raised] very unrealistic, untruthful and may not have any interest in the bond. It is, therefore, not surprising that the participation rate of the investor was very low.”
He pointed out that the “inability by government to meet the debt service coverage ratio” is one of the major reasons for the failure, adding: “Before raising bonds, government needed to communicate to the investors that the proceeds will be able to service the bond going forward. Unfortunately, the assumption that was provided by the ministry of finance to the investors were clearly short of the truth”.
Source: classfmonline.com
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
Koto di3 nebo gw3. Your father talk sheepishly and so are the children. Ns3mfoo nkoaa
So Ato what did you describe Mahama's temperament when he was president just in.sul.ting, casting aspersions and innuendos all over the place. Didn't you hear him say 'b.a.l.o.n.e.y"? Were on Mars? You din't hear him abi? Or you were in the country licking his boots so you could not talk. You are just like a school boy trying to become relevant opposition member in parliament.
one thing is common with ndc people. they refuse to think niether will they read. the kind of comments I read from some ndc members here confirms what i said. some dont even read the article but the moment the see the headline and a picture of one of their leaders then they come straight here to comment. its a pity. Bawumia will continue to haunt them forever.
Ghanaians are not taking you serious beause of your attitide to governance in this country. Its a pity the minority is proving to be ***barred word*** and are surely behaving like little kids. Sincerely, the ndc should redefine its parliamentary structure and limit the age of their future parliamentarians to at least 40 yrs. This childish behaviour of holding press conferences on non issues is exposing their inefficiencies. Most often those matured ones do not form part of these noise making press conferences. Those little ones must grow up because Ghanaians want to build a serious country.
Guess you guys are craxy, why don't you organize press conference on it instead coz that is what you know how to do best apart from st3alin, Bawumia speech was unpresidential, what about John the thi3f, who doubles as a statesman and Ex president, he had the gust to called some people piggss and 419, wish was in PNDC era , he would have been tied n shot, coz the level of John Mahama st3alin and quilt surpasses all those who were killed at that time, u.sel3ss people, all what u know is to organize press conferences, coz you don't pay a dime and on top of it all any I.d!0t can organize press conference coz you don't need any wisdom or knowledge to do so
Ooo ooo What a 419 Veep we have in Ghana, 419mia
These corrup.t and incompetent NDC hogs/swines never cease embarrassing themselves.These worthless ***barred word*** nonentities speak ***barred word*** and beg Dr. Bawumiah not to respond.What's wrong with these criminal cruel nation wreckers?They're even annoying Ghanaians the more,which may result in their rotting in opposition for good.What does this Ato Forson know?Didn't they messed up the economy and Ghana at large.Dr.Bawumiah did well in schooling their clueless ***barred word*** promiscuous atopahene Mahama.I guess these liars and wicked souls will never learn any lesson.Their day of reckoning is near.
An ex-president who doubles as a stateman, and paid with tax payers money can call ghanaians pig, and u dont see anything wrong with it. i guess u are another pig to complain abt the vice responding to mahama's sick comments abt ghananains. go n read NDC scholar n learn ethics.
Look.at these morons
You call Bawumia 419 and you want him to blow you kisses. ***barred word*** Ndc. Ndc ambassador called the 2nd lady a bastard. JM said baloney. Ndc must ***barred word***.