Ayariga filed a motion to compel Ofori-Atta to submit the debt exchange to Parliament
Bawku Central Member of Parliament Mahama Ayariga has said he will table a motion in Parliament on February 17 to compel Finance Minister Ken Ofori-Att to submit the Domestic Debt Exchange (DDEP) for Parliament’s approval.
He said the Minister cannot run alone as there is no agency monitoring him.
“The matter must come to Parliament for a vote,” he said on TV3’s Ghana Tonight program on Thursday, February 16.
“The speaker has indicated that we want more opportunities to see this, we need it, in the form of a motion and he is ready to acknowledge the motion,” he said.
He stressed, “anything that exists must be approved or blessed by Parliament.”
He also said that the Finance Minister has no legal right to decide on domestic bonds.
Mr. Ayariga said every action of the Minister of Finance must be scrutinized and approved by Parliament under the Public Finance Management Act.
“If they have not come to Parliament for approval, today I told them that they are doing something wrong, they must come to parliament to approve the domestic bond.
“Tomorrow I will table a motion in Parliament asking the Minister of Finance to send it to Parliament,” he said on TV3’s Ghana Tonight program on Thursday, February 16.
The government has announced that no cancellations or withdrawals will be allowed when the Domestic Debt Exchange Program (DDEP) is closed.
The program closes at 16:00 on Friday, February 10 with approximately 85 percent participation.
This exceeded the target by the Ministry of Finance, which more than three times exceeded the deadline to ask more bondholders to register.
In a statement on Tuesday, February 14, the Ministry expressed its satisfaction with the results of the launch of the Program, stressing that it is a significant achievement for the government to fully implement the economic strategy in the Post-Covid-19 Economic Growth Program (PC-PEG).
It states that in order to provide sufficient time to complete the new bonds in an efficient manner, the Completion Date has been extended to Tuesday, February 21 from Tuesday, February 14.
“This Settlement Date Extension, however, is only for the New Bond settlement process,” the statement said.
“The issue date, interest accrual schedule and payment schedule for the New Bonds will be adjusted to reflect the actual Settlement Date.
“As the Exchange period has expired, no new tenders will be accepted, and no cancellations or withdrawals will be permitted.”
By Laud Nartey|3news.com|Ghana
He had to challenge the authority of the Minister of Finance who had sex to force him to trade the bonds at a reduced coupon rate, which he really did not have the power to do.
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