Dr Mohammed Amin Adam
The Finance Minister, Dr. Mohammed Amin Adam, has issued a stern warning to the public, emphasizing that the government will not assume liability for individual investment choices.
His caution comes in the wake of an announcement indicating the allocation of GH¢1.5 billion to compensate individuals impacted by the banking sector clean-up exercise.
During a UK Town Hall meeting over the weekend, Dr. Amin Adam underscored the importance of seeking expert guidance from financial analysts prior to making investment decisions involving bonds or financial instruments.
While acknowledging the caring disposition of the government in earmarking funds for affected parties, he reiterated that personal investments are distinctly the responsibility of the individuals involved.
Dr. Adam elaborated on the government’s position, stating, “We do not take responsibility as a government because when people decide to invest in one bond or one instrument or another, the government is not consulted; it is an individual decision.”
He drew parallels with governmental investment practices, highlighting that even official ventures such as Eurobonds carry inherent risks that entail informed decision-making based on professional advice.
In light of the challenges encountered by individuals due to inadequate information and consultation during the banking sector clean-up exercise, Dr. Adam recognized the plight of affected persons, acknowledging reports of severe repercussions including loss of life and instances of suicide.
Despite reiterating that the government will not be held accountable for personal investment outcomes, he emphasized the government’s commitment to providing support to those adversely affected.
Revealing the plan to disburse GH¢1.5 billion between the current period and October for compensating victims, Dr. Adam disclosed that the total amount reserved for this purpose stands at GH¢4 billion.
While affirming the government’s proactive measures to relieve distress among the affected populace, he cautioned against overlooking the importance of prudent financial scrutiny and advice in investment decisions.
By Vincent Kubi