Interpol red notice issued for Ghana’s former finance minister
Interpol has issued a Red Notice for Ghana's former Finance Minister, Ken Ofori-Atta, marking a dramatic escalation in corruption allegations tied to his tenure. Ofori-Atta, a key figure in President Nana Akufo-Addo's government from 2017 until early 2024 and widely viewed as the architect of Ghana's recent economic policies, is now subject to an international arrest request.
The notice stems from charges filed by Ghana's Office of the Special Prosecutor (OSP). The core allegation revolves around the controversial $2.25 billion domestic debt exchange program implemented in late 2022 as Ghana faced a severe economic crisis and sought an IMF bailout. The OSP accuses Ofori-Atta of financial impropriety and causing intentional financial loss to the state during this program's execution.
Specifically, investigators allege that the structuring and management of the debt swap unfairly favored certain financial institutions, including Databank Brokerage Ltd., a firm Ofori-Atta co-founded. They contend this resulted in significant, avoidable losses to the national pension fund and other state entities holding domestic bonds.
Ofori-Atta has consistently denied all wrongdoing, framing the debt exchange as a necessary, albeit painful, step to restore macroeconomic stability. His lawyers dismiss the charges as politically motivated. The issuance of a Red Notice, however, signifies Ghanaian authorities secured an arrest warrant and formally requested Interpol's global alert system.
This development sends shockwaves through Ghanaian politics. It represents an unprecedented move against such a high-profile former official, testing the government's stated commitment to fighting corruption, particularly as Ghana navigates the ongoing economic challenges Ofori-Atta's policies aimed to address. His potential arrest abroad, if it occurs, would be a landmark event with significant domestic and international repercussions.
The new administration of President John Mahama has been on the heels of former government appointees to account for their tenure in office.
The attorney general is currently building 33 cases of corruption and related offences against former government appointees.
Ofori-Atta served as former President Nana Akufo-Addo’s finance minister for seven years.
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