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BoG begins search for documents covering payment for GNPC drill ship

bogThe Bank of Ghana says it has began searching for documents covering the payment of the GNPC drill ship, Discover 511.

The country is still yet trace documents covering payment of US$19.5 million paid to French Bank, Societe Generale, as judgement debt from sale of the drill ship.

All the institutions involved in deal have failed to provide the required details to untangle the mystery surrounding the transaction.

But answering questions from journalist after the Monetary Policy Committe (MPC) meeting, the Governor, Dr. Kofi Wampah, said he is certain answers to key questions that have come up in the deal would soon be found.

The central bank Governor said, “initially we didn’t have any specific date for the transaction so it was a little bit difficult”, adding that there are indications now on where to start looking for the documents.

Meanwhile, he expressed optimism in revenue mobilsation, saying it will pick up in the last quarter of this year despite decline over the past months.

The state has so far been able to mobilse GH¢ 10. 4 billion as revenue, down from the GH¢ 12.5 billion target.

Total public debt has also increased by almost GH¢ 9 billion from December last year to GH¢ 44 billion.

Governor also confirmed the valuation of three institutions interested in taking over merchant bank.

He said “now the bid has been opened again and I understand there has been interested parties…and they are being considered by the shareholders.”

Source: Joy Business

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