{"id":250753,"date":"2024-11-14T11:18:06","date_gmt":"2024-11-14T11:18:06","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/14\/lawyer-files-injunction-on-governments-t-bills-borrowings-2\/"},"modified":"2024-11-14T11:18:06","modified_gmt":"2024-11-14T11:18:06","slug":"lawyer-files-injunction-on-governments-t-bills-borrowings-2","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/14\/lawyer-files-injunction-on-governments-t-bills-borrowings-2\/","title":{"rendered":"Lawyer files injunction on government\u2019s T-bills borrowings"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Private legal practitioner, Jonathan Amable has filed an injunction application at the Supreme Court seeking an immediate halt to government\u2019s borrowing on the treasury bills market.<\/p>\n<p>The plaintiff in the writ as sighted by <strong>Citi Business News <\/strong>is demanding that government and all its agents be stopped from issuing treasury bills to finance government business due to the failure of the government to seek parliamentary approval for such an issuance.<\/p>\n<p>Jonathan Amable argues that, the action by government is contrary to provisions in the 1992 constitution. \u00a0He further avers that the development if not prohibited will continue to have dire effect on the economy.<\/p>\n<p>The defendant in the case is the Attorney General of the Republic of Ghana. The injunction application is also asking the Supreme Court to cite the action by the Ministry of Finance and Bank of Ghana as unconstitutional.<\/p>\n<p>\u201cThat the consequence of the relevant borrowing contracts being conducted without the requisite parliamentary approval makes them liable to be declared void for unconstitutionality and such a consequence will be made more dire by the fact that the holders of the offending debt instruments include banks, savings and loans companies micro-finance companies, asset management companies, insurance companies, pension funds and ordinary Ghanaians. Accordingly, the unconstitutional conduct of the state potentially jeopardises the entire Ghanaian financial sector and hard-earned capital of the investing public\u201d, the application read in part.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Private legal practitioner, Jonathan Amable has filed an injunction application at the Supreme Court seeking an immediate halt to government\u2019s borrowing on the treasury bills market. The plaintiff in the writ as sighted by Citi Business News is demanding that government and all its agents be stopped from issuing treasury bills to finance government business [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":250755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-250753","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lawyer files injunction on government\u2019s T-bills borrowings - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/11\/14\/lawyer-files-injunction-on-governments-t-bills-borrowings-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lawyer files injunction on government\u2019s T-bills borrowings - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Private legal practitioner, Jonathan Amable has filed an injunction application at the Supreme Court seeking an immediate halt to government\u2019s borrowing on the treasury bills market. 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