Group Writes To Governor…Over US$2.25 Billion Bond

The People’s forum, a pressure group, has requested the Governor of the Central Bank of Ghana, Dr. Ernest Kwamina Yedu Addison to fully disclose  information  related to  the S$2.25 Billion Bond issued by the regulator of the banking industry in partnership with the Ministry of Finance.

 The group in a letter to the Central Bank Governor noted that “In line with our constitutional right to information guaranteed by Article 21 (1F) of the 1992 Constitution of the Republic of Ghana, the PEOPLE'S FORUM respectfully requests for information and full disclosure regarding the $2.25 billion bonds issued by the Government of Ghana

“The forum wants you to confirm the date and time the proceeds of the said bonds were received in Government’s designated account at the Bank of Ghana” it stated.

“The forum wants to know the total disbursements from the proceeds to date? Kindly furnish us with the list of projects and activities for which the bond proceeds were disbursed and upon whose authority (or signatory) the requests for disbursements were made”, it indicated.

The letter signed by one Clement Amole, Executive Director, further requested the Governor to confirm the total   proceeds from the bond issued that remains undisbursed

“Please confirm how much of the total proceeds from the bonds remains undisbursed as of 20 May2017 and whether or not the bond will pay interest to investors semiannually or annually. We also want to know how much was spent on the bond issuance as fees or expenses for transaction advisors and other associated costs”?