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We feel like a sledge hammer thrown at us – Ofori-Atta reacts to EU blacklisting

The Minister of Finance, Ken Ofori Atta, has expressed worry about the decision by the European Union to put Ghana on the list of blacklisted countries for non-compliance to some money laundering rules.

According to him, this is so because there has not been any reported money laundering incidence by the EU in Ghana during the period of the action.

Mr. Ofori Atta was reacting to the issue in an engagement with the European Union Ambassador to Ghana to sign an agreement for some 87 million Euros budget support for Covid-19 response.

“As you know, the EU put us on the grey end of the blacklist because of our discussions with Financial Action Task Force (FATF). That’s quite debilitating and so we are hopeful to be off the list in December and that the EU will also expeditiously take us out of that.”

Furthermore, he said “it sometimes looked quite incongruent. When we see issues such as HSBC Bank right at your door and then we feel like a sledge hammer is being thrown at us for an event that has not occurred but in preparedness–we are moving aggressively to get that– and we’ll seek your support when we get off the FAFT list that the EU reciprocates quickly”.

The EU placed Ghana among a list of countries under its watch for certain money laundering activities due to an observation by the FATF, the Inter-government organisation, recognised by the World Bank and IMF for instituting policies aimed at combating money laundry and terrorism.

Meanwhile, the European Union Ambassador to Ghana, Diana Acconcia has told Joy Business that even though the move was automatic, the EU has started some work with government to put in all the necessary measures that will get Ghana out of that list.

myjoyonline.com

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