They forgot they made the same bailout promise in 2020 - Adongo on banking sector clean-up

Isaac Adongo, the Member of Parliament for Bolgatanga Central has advised individuals affected by the government's financial sector clean-up to be skeptical about Finance Minister Dr Amim Adam's recent promise of a bailout.

During a town hall meeting in London on June 22, 2024, Finance Minister Dr. Mohammed Amin Adam announced that the government plans to disburse GH¢1.5 billion between June and October to compensate individuals who invested in institutions impacted by the clean-up.

However, in a press briefing on June 26, 2024, Adongo labelled the announcement as a "political gimmick," referencing similar unfulfilled promises made by the ruling New Patriotic Party (NPP) government in the run-up to the 2020 general elections.

The MP recalled a 2020 directive, issued just before the elections, which promised compensation but never materialized.

He noted that this new promise was not included in the current budget, casting further doubt on its credibility.

“They gave everybody a bond. What happened to the bonds? 2024 is another election. They have forgotten that in 2020, they made that promise.

“In 2021, in the budget, and the other government obligations, they budgeted for 5.5 billion Ghana cedis to pay off those fund managers but not even a dime was released,” onuaonline.com quoted him to have said on June 26, 2024.

AM/SARA

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