Accra, Ghana//-The Speaker of Parliament, Alban Bagbin has asked the Finance Minister, Ken Ofori-Atta, not to touch monies belonging to pensioners.
Mr Bagbin the current economic crisis can be solved without the funds of the pensioner.
Wrapping up on the business of the House on Thursday, February 16, the former Nadowli Kaleo MP said Parliament will resist any attempt to include funds of pensioners in the Domestic Debt Exchange Programme (DDEP).
“…what I can tell you is that leave our pensioners alone. You can solve the problem without touching their small money.”
Already, the Finance Minister has confirmed that all pensioners who failed to tender their old bonds for new ones under the exercise have been exempted from the programme.
Addressing Parliament on the state of the Domestic Debt Exchange Programme, Mr Ofori-Atta said the pensioners have nothing to worry about.
Mr Ofori-Atta added that he has officially written to the pensioner bondholders who did not sign onto the Programme about their exemption from the exercise.
“Mr Speaker, Government remains committed to the well-being and dignity of our Senior Citizens and Pensioners.
“Indeed, it has personally caused me great distress as a number of them have picketed at the premises of the Ministry of Finance since Monday, 6 February 2023.
“As I have already indicated in my Press Release dated 14th February 2023, government will honour their coupon payments and maturing principals, like all Government bonds, in line with Government’s Fiscal commitments.”
You deny poor pensioners their money and quote the Bible?
Commenting on the DDEP statement presented to the House, the Bolgatanga Central MP, Isaac Adongo appears to have had enough of the Finance Minister’s incessant biblical quotations during every address to the nation.
Ken Ofori-Atta appeared before Parliament on Thursday to brief the legislators about the government’s Domestic Debt Exchange Programme and as has become the norm, he concluded his statement with a quotation from the Holy Book.
But Mr Adongo would not have that today.
He questioned the moral grounds the Finance Minister had to throw the word of God at Ghanaians while taking their hard-earned money.
“As a country, we are not angry enough. This cannot happen to anybody. You are here reading this boring and underwhelming statement to us and yet you are taking our money.
“This is not a joke, you are even quoting the Bible. Which of the Bibles are you quoting? Quoting the Bible and taking our money? You are denying the poor pensioner his/her money and you are still quoting the Bible?” he quizzed.
The Bolgatanga Central lawmaker subsequently asked the Finance Minister to resign with immediate effect for mismanaging the economy.
“Resign! Resign right here in your statement to Parliament,” he was categorical.
Financial supervision advisor must be tough
On his part, the Member of Parliament for Yapei Kusawgu, John Abu Jinapor is advising the financial supervision advisor appointed by the International Monetary Fund (IMF), Leonard Chumo to be alert during his tenure at the Bank of Ghana (BoG).
The politician claimed that he had lost all trust in the Governor of the Bank of Ghana and that as a result, he was advising the supervisory advisor to carefully monitor the BoG’s operations.
He said, “Mr Chumo, please let me thank you and welcome you to Ghana. But let me plead with you, please open your eyes at the Bank of Ghana. I cannot trust that Governor…one bit. I beg you open your eyes, scrutinise the documents and ensure that the right thing is done.”
The advisor has been appointed by the IMF to provide technical support to the Bank of Ghana and aid in strengthening the capability of its banking supervision functions.
He began his assignment on February 6, 2023.
In a statement issued by the BoG on Tuesday, February 14, it was revealed that the placement represented continued cooperation between Ghana, the IMF, and the Swiss State Secretariat for Economic Affairs.
However, the Yapei Kusawgu MP thinks the central bank is unreliable, alleging some questionable operations there.
Speaking at parliament following the Finance Minister, Ken Ofori-Atta’s address on the debt exchange programme on Thursday, Mr Jinapor revealed that there were three ways which government raised revenue: taxation, borrowing and printing of money.
“How can the Bank of Ghana advance more than GH¢40 billion to the government of Ghana in one fiscal year? What is the size of Ghana’s economy?” he quizzed.
Ghana is currently requesting a $3 billion bailout from the IMF to bolster its struggling national economy.
Before the Bretton Woods institution’s board would evaluate Ghana’s request, one of the requirements is the domestic debt restructuring scheme. A staff-level agreement between Ghana and the IMF was achieved in December 2022, opening the door for the $3 billion rescue.
