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Stop useless big English; you’re a curse to political credibility – Adongo takes on VEEP

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The MP for Bolgatanga Central, Isaac Adongo has taken a swipe at the government for failing to raise enough revenue from the local bond market.

Mr. Adongo was responding to an earlier post by the Vice President, Dr. Mahamudu Bawumia. His comments chided the government over its lacklustre performance in managing the economy.

The MP took to his Facebook page to express his frustration.

“Back home in Ghana, you couldn’t borrow Ghc2 billion on a 3-year bond rollover on the same capital market. You got just a paltry Ghc470milli0n [$58million] Why? Stop talking about abstract things with useless big English. What’s the use of integrating your liquidity dry capital markets with others to create a big capital mess.”

“Having an attractive economy is more important to investors than the integration of dysfunctional capital markets. Rating agencies say your issuer rating is the worse in Africa and you are talking empty big English to lure others to infest them with your Caa1.

You are a curse to the credibility of the political class in Ghana,” he wrote.

His comments came on the back of earlier comments made on the official Facebook page of the Vice President, Dr. Mahamudu Bawumia.

“I addressed the second edition of the biennial Conference of the West Africa Capital Markets Conference (WACMaC), organized by the West Africa Securities Regulators Association (WASRA) in Accra on Tuesday, May 24, 2022, and explained that capital markets integration would not only facilitate cross-border trade but also help raise the needed capital for local development.”
“I underscored that government pledges its unflinching commitment to work in concert with the other Governments in the sub-region to support the integration agenda for the Capital markets in West Africa,” the VEEP wrote.

Source: A1radioonline.com|101.1MHz|Mark Kwasi Ahumah Smith|Ghana

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