I left $270M in GIIF but Akufo-Addo has given it to his in-law to build Pullman hotel – Mahama
Former President, John Dramani Mahama has alleged that an amount of $270 million earmarked for the Ghana Infrastructure Investment Fund (GIIF) during his tenure has been improperly reallocated under President Akuo Addo’s administration.
Addressing the media, Mahama argued that this financial resource is of great concern, as President Akufo-Addo has redirected these funds to support the construction of a Pullman hotel, a project by his brother-law,
“He has distributed some to his brother-law which he is using to build Pullman Hotel, it’s the money I left in GII. Stabilization fund, I left 300 million dollars with the aim of covering up for the economy should an unforseen circumstance occur,” he stated.
The former president emphasized that he had set aside this money prior to the conclusion of his term with the primary purpose of settling a debt incurred by former President John Agyekum Kuffour, which was scheduled for payment in October 2017.
” I left money sinking fund because I knew ex-president Kufuor’s euro bond will be due in October 2017, I thought it was to leave some money because not paying will have a toll on the economy. So I left money there, so when Akufo-Addo assumed office he took that money to pay the debt. I left 270 million dollars in Ghana Infrastructure Investment Fund (GIIF) that was to be used as a vehicle to attract investments into infrastructure, but that money has been distributed,” he indicated.
Furthermore, he cited another critical rationale for safeguarding these funds was to provide a financial buffer for Ghana in case unforeseen circumstances should threaten the country.
Additionally, Mahama expressed astonishment at how the Akufo-Addo government managed to create a troubled situation, considering that it inherited a stable economy from the NDC administration.
The presidential candidate of the National Democratic Congress (NDC), has expressed confidence that his party possesses the capability to rectify the challenges and corruption that have emerged during the Akufo-Addo government’s tenure.
Source: theindependentghana.com
