Home   >   Politics   >   Politics   >   201704   >   Minority So 'Ignorant', I'm Sad For Them – Bawumia
Minority So 'Ignorant', I'm Sad For Them – Bawumia
 
<< Prev  |  Next >>
 
21-Apr-2017  
Comments ( )    Email    Print
     
 
 
 
 
Related Stories
 
Vice President Dr Mahamudu Bawumia has described the Minority as an “ignorant” bunch who do not “understand” the processes of managing the economy, thus, must do some reading to educate themselves.

Speaking to the media in Washington DC about the Minority’s claim that the recent $2.25billion domestic bond issued by the Akufo-Addo government was done in “secrecy”, without parliamentary approval, and “cooked” to favour US-based investor Franklin Templeton, Dr Bawumia said: “This shows a lack of understanding, the Minority have never understood this economy and it’s just amazing that people on that side who were actually in charge of managing the economy will be making such statements, it really shows ignorance and I am so sad when I hear that from people who should know better.”

According to the Minority, Mr Trevor G. Trefgarne, a director at Franklin Templeton, the institution that bought 95 per cent of the bond, is also a Director at Enterprise Group Limited, a company of which Ghana’s Finance Minister Ken Ofori-Atta is co-founder, thus, raising issues of transparency, conflict of interest, and suspicion.

At a press conference on Tuesday, the Minority, led by former Deputy Finance Minister Cassiel Ato Forson, said the involvement of the US-based firm changed the dynamics of the bond from being a domestic one to an international one that needed parliamentary scrutiny and approval.

“We also wish to point out that this Bond issue is clearly an international economic/business transaction within the meaning of article 181 (5) of the Constitution.”

“Therefore, we expected that the bond issuance would have been brought to parliament for approval. This is because although the transaction appears as to be a domestic sale of bonds, it is in truth a ‘private placement’ and an international economic transaction given the fact that Franklyn Templeton is a United States registered company and, therefore, qualifies as a foreign entity under article 181 (5) of the constitution. We, therefore, call on the Finance Minister to provide parliament with the full complement of documentation on this transaction for scrutiny and ratification,” the Minority demanded.

Dr Bawumia said all the assertions and allegations by the Minority betray their lack of understanding in handling the economy.

“So they need to understand, maybe they should read a little, but they need to understand what took place: we issued a cedi bond, there’s no secrecy to the matter, it was very well invested in, the holders have invested many times in Ghana in bonds that were in place when Seth Terkper issued them, they bought them, 24% interest rate, this time it is 19%, we are doing even much better but this is what politics has been reduced to, trying to say things which really have no basis and are basically wrapped in ignorance, and, so, I’m a bit sad for Ghana and for them because they are really demonstrating a lot of ignorance in the process of managing this economy.”



 
 
 
Source: classfmonline.com
 
 

Comments ( ): Post Your Comments >>

 
 
 
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
 
 
COMMENTS




Name: Kwabena in kwashieman
Dr. Bawumiah never used the expression " a bunch of ***barred word***" persons of the minority. This was a creation by your medium and that is shameful of you.Always journalists want to create tension in the country. All that the vice president sought to do was for the minority to move away from petty political propaganda and face the reality of the transaction which had not been different from what the previous gov't did with the same investors. The difference is that this transaction would yield much better result than the previous ones. He was expressing his disgust at the minority's political gymnastics.
 
Name: Common sense
The problem with NDC is Believing Ato Forson. Why can't they consult, discuss, satisfied before bringing out everything concerning economic. It seems Ato is too sure of himself and comes out always mistaking. NDC should relisten to his speeches of challenging economics facts.
 
Name: akonoba
NDC minority is clueless. NDC chased USD3.0 Billion and had USD1.5 Billion fron China using oil as collateral. A finance minister just used a line phone to seal a bond deal of USD2.5 billion in less than 24 hours !!!!!!!!!!!!! Dr. Bawumia is right. The transaction was too complex for the NDC minority. Total ***barred word***.
 
Name: francis
bawumia be a little bit diplomatic n stop talking fooollllissshlllyyy.
 
Name: Ev1l NDC
It is simple... NDC people are ev!l and ***barred word***... Where were you guys when NDC poeple like Koku Anyodoho was insulting Dr. Bawumia? Calling him all kinds of names?
 
Name: asante
The vice president doesn't come across to me as a very smart person. He acts similar to John mahama, probably because of where they both come from. They open their mouths and say anything. He would be a big fuuuuull, if he ever gets the chance to lead our party.
 
Name: karbo
Difference in opinion doesn't make one ***barred word***. It enables both parties to explain themselves better to each other. If we want to kill a cat, and I think we should strangle it and you don't agree, all you need to do is to tell me you want us to cut off the head instead, because when the head is cut we could drain the blood from it. There is no need to tell me I am ***barred word*** just because I prefer to strangle the cat. After all all we want is to kill the cat. Divergent views is what politics is about, but insult from a vice president opens the Pandora box, which is not good.
 
Name: @kweku small
KWEKU SMALL YOU HAVE A SMALL BRAIN INDEED. IS THIS TOO DIFFICULT TO UNDERSTAND. ? NO DOUBT YOU FAIL ABYSMALLY AT GOVERNANCE. AOO NDC
 
Name: below the belt
Barwumia is treading on a dangerous ground. He needs to understand that he is now the vice president and no more on campaign trail. If he starts using words such as ignorance to describe his opponents, very soon, they would reply him in worse kind, and this could be done to nana addo too, which wouldn't be good for our president. You can just make your point without insulting, after all you are called, your excellency. Even abronye, would not say this. Sam George and co are going to reply you sooner than later.
 
Name: OK
Don't be carried away by Dr. Bawumia's fluent economic oratory. I am sorry he is getting it wrong this time. He (they -NPP) thinks nobody will see through this transaction. It is true that a falsehood if manipulated for long may seem like the truth but my V-Mates tell me The Truth Stands. The $2.25bn bond was well arranged to benefit individuals. The President should continue that Mahama left me with a huge debt. Bawumia should continue telling Ghanaians that we don't read and we are wrapped in ignorance. By the time the scale falls from the eyes of the ***barred word*** you will know your stand. S3 ***barred word*** eni tea na agoro egu! To wit when the unwise becomes wise then the game ends.
 



Post A Comment

Name:
   
Comment: