GH¢18bn borrowed to fund coronavirus expenses – Adu Boahen

Minister of State-designate at the Finance Ministry, Mr Charles Adu Boahen has said about GH¢18 billion was borrowed to fund COVID-19 activities.

In all, he said it cost the government a total of GH¢21 billion in tackling the impact of the virus.

The nominee mentioned these during his vetting by the Appointments Committee of Parliament on Wednesday, June 2.

“COVID-19 cost us about GH¢21 billion. Of that amount, about GH¢18 billion of it was funded through borrowing, and the rest came to us as grants, some monies from the Stabilisation Fund,” he said.

He further told the committee that he no longer play any role in his company, the Black Stars Advisors.

He said during his vetting by the Appointments Committee of Parliament on Wednesday, June 2.

“Mr. Chairman, as I mentioned earlier, I resigned from the board and management of Black Star Advisors in 2017. I have no role, and I do not participate in their business dealings,” he told the Committee.

This comes after lawmaker of Bolgatang Central, Isaac Adongo has asked the committee to reject him on the basis that his Black Stars brokerage has been book runners and transaction advisors to government.

The deputy ranking member for the finance Committee has disclosed he will mount a crusade for rejection of the nomination of Dr. Adu Boahen should he fail do heed since the move amounts to conflict of interest.

Addressing the media in parliament Mr. Adongo further revealed his intention to petition the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate not just the nominee but also Finance Minister Ken Ofori-Atta whose Data Bank is undertaking similar exercise.

He added the International Monetary Fund (IMF), World Bank and other international bodies will equally be petitioned.