Parliament approves government’s $2.5 bn Eurobond

Parliament has approved government’s 2.5 billion dollar Eurobond to finance major government infrastructure. 

The proceeds of the bond are expected to finance the provision of capital expenditure captured in this year’s (2018) budget for sectors such as health, roads, highways and railways. 

The Minister of Finance, Ken Ofori Atta, in the 2018 budget stated that the government will raise the amount as it has become necessary to develop the beneficiary sectors. However, the Minority Spokesperson on Finance, Cassiel Ato Forson has raised concerns of inconsistencies and wants government to review the plan.  

According to him, the government data submitted in the budget goes contrary to the planned use of the proceeds of the bond. 

Responding to the concerns of the Minority, a Deputy Information Minister, Kojo Oppong Nkrumah maintains that the government has not flouted any aspects as spelt out in the budget. 

He accused the Minority on focusing on just one aspect of the budget.

SOURCE: CITI
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