Vice President Dr Mahamadu Bawumia has described the Minority in Parliament’s allegation of conflict of interest in government’s recent 15 year bond sale as mischievous and ignorant.
The group at a press conference this week criticised government over the manner in which it raised $2 billion from investors.
According to the group, transaction is shrouded in secrecy and cooked to favour one investor and also didn’t have Parliamentary approval.
However speaking to the media at the end of an engagement with investors in Washington DC Thursday night, Vice President Dr Mahamadu Bawumia said it was unfortunate for such baseless comment to come from persons who should know better.
“It shows a lack of understanding, the Minority has never understood this economy and it is just amazing that people on that side who were actually in charge of managing the economy will be making such comments, it really show ignorance. I’m so sad when I hear that from people who should know better, maybe they should read a little. They need to understand what really took place, we issued a cedi bond, there was no secrecy and it was very well invested.
He added: “The holders have invested many times in Ghana, the bonds that were in place when Seth Terkper issued them, they bought them…24% interest rate, this time it’s 19% so we are doing even much better. But this is what politics has been reduced to, trying to say things that have no basis basically rapt in ignorance, I;m a bit sad for Ghana and for them because they are really demonstrating a lot of ignorance of the process of managing this economy and I think that is where we are.”