Accra: Finance Minister Cassiel Ato Forson has announced that the government currently lacks the financial capacity to compensate customers with funds locked in collapsed financial institutions. Speaking on JoyNews' PM Express, Dr. Forson questioned whether the state should continue to bear the burden of liabilities from privately managed institutions.
According to Ghana Web, Dr. Forson highlighted the financial dilemma by asking if the government should halt essential services such as school feeding and capitation grants to fund these compensations. "The money must come from somewhere," he stated, emphasizing that funds are not available for such reimbursements.
This announcement comes in stark contrast to campaign promises made by John Dramani Mahama, who assured voters that an NDC government would reimburse victims of the financial sector clean-up within its first year. Sixteen months into the administration, affected customers report that a clear compensation roadmap is still missing.
The remarks have prompted criticism from affected investors, particularly those associated with Gold Coast Fund Management. Charles Nyame, convener of the Aggrieved Customers of Gold Coast Fund Management, accused the government of neglecting its campaign promises.