$2.25b bond saga: ‘Bawumia needs not to apologise’

Vice President Dr Mahamudu Bawumia’s description of Minority Members of Parliament (MPs) as “ignorant” is not offensive, hence there will be no need for him to apologise, Dr Oduro Osae, Dean of Graduate Studies at the Institute of Local Government, has stated.

According to Dr Osae, the expression ‘ignorant’ is used when one does not understand a situation or does not know that a fact exists, and cannot be an insult for which an apology must be demanded.

His comments come in the wake of Mr. Richard Quashigah, MP for Keta demanding an apology from Vice President Bawumia for describing the Minority in Parliament as “ignorant”.

The Vice President was 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 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 per cent interest rate. This time it is 19 per cent, 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.”

However, Mr Quashigah, who is the Deputy Minority Ranking Member on the Employment Committee of Parliament, took strong exception to Dr Bawumia’s tagging of the Minority as “ignorant”.

In a statement titled: Bawumia must apologise to Ghanaians and Minority in Parliament, Mr Quashigah said: “If indeed those were his words, then it is not only unfortunate but a very jaundiced conclusion to have been made by him.
“If indeed the reportage as put out by the media is accurate, then he is advised to learn to speak with diplomacy and dignity expected of a vice president or else before long he could cause this nation an incalculable international embarrassment.”

Speaking on the development in an interview with Emefa Apawu on the 505 programme on Friday April 21, Dr Osae said: “It is about time as a country we ensured there is decorum and mutual respect in our political space, especially among our political leadership.

“I think the issue at stake is very important to all of us as Ghanaians and the least we expected should be personality attacks or insults,” he said.

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