Another Fraud In The Making …As Ken Ofori-Atta Plans To Issue Another Bond To Pay Unaudited BDC Debts

May 30, 2017

Finance Minister, Ken Ofori-Atta, has announced plans to issue a bond for the purpose of clearing the energy sector debts, including indebtedness being claimed by the BDCs.


However, the issue of government indebtedness to the BDCs is one that has not fully been resolved. Issues with regards to whether there is any such liability in the first place; and if there is, is government really responsible for the liability or it is the responsibility of the BDCs; and indeed, how much is really the debt, have not been resolved.


The issue of the BDCs claim against government has been one of the thorny issues that made the Mahama-led NDC administration very unpopular with the BDCs due to that administration’s uncompromising stance on the issue of the BDCs’ claim against government.


Indeed, at a point, then Finance Minister, Seth Terkper had to engage independent consultants to audit the claims of the BDCs.


Interestingly, while the current Finance Minister, Ken Ofori-Atta is telling the nation about plans to issue a bond to pay off the BDCs, he is not telling the Ghanaian people just how much that debt is and whether the claim against government is justified or not.


Ken Ofori-Atta has also not told the Ghanaian people whether or not, unlike the 2.25billion Templeton bond, the Attorney General is aware of this intended transaction and whether or not the A-G has given an opinion on the BDCs’ claim against government.


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