The disrespect of Ofori-Atta towards Parliament is unacceptable – Murtala

3 News

Tue 14th Feb, 2023 22:16

Tamale Central lawmaker Ibrahim Murtala Mohammed has criticized Finance Minister Ken Ofori-Atta for failing to appear before Parliament as scheduled to brief the House on the state of affairs regarding the Domestic Debt Exchange Programme (DDEP).

The Finance Minister was expected to appear in the House today Tuesday, February 14.

However, that did not happen.

Speaking to TV3 in an interview, Murtala Mohammed said “the disrespect, the disdain of Ken Ofori-Atta is unacceptable. This is not the first time, not the second time, not the third time he has disregarded parliament.”

The Ministry of Finance earlier expressed gratitude to all bondholders who voluntarily participated in the DDEP.

The Programme closed on Friday, February 10 after multiple deadlines.

Mr Ofori-Atta had targeted over 80 percent participation amid agitations among individual bondholders and some Senior Citizens, who sought exemption from the Programme.

“The Government’s Domestic Debt Exchange Programme (DDEP) closed on Friday 10th February 2023 with over 80% participation of eligible bonds,” opened a statement issued by the Ministry of Finance on Tuesday, February 14.

“The Government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times.”

It said by the participation of the voluntary bondholders after the closure of the Programme on Friday, the country has inched closer towards securing the $3billion extended credit facility (ECF) from the International Monetary Fund (IMF).

“The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively.

“The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.

“The Government is, therefore, grateful for the overwhelming participation of all bondholders.

“Your support and contribution has gotten your country much closer to securing the IMF programme.”

It asked individual bondholders, particularly pensioners, who did not participate in the Programme, to be rest assured that their coupon payments and maturing principals will be honoured in line with laid-down rules.

By Laud Nartey|3news.com|Ghana