IMF Loan NPP MP To Sue Gov’t Over Fiscal Indiscipline

The minority NPP have threatened to drag government to court for breaching certain constitutional guidelines on fiscal policy.

  • Published:
Minority Spokesperson on Finance, Dr. Anthony Akoto-Osei play

Minority Spokesperson on Finance, Dr. Anthony Akoto-Osei

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Minority Spokesperson on Finance, Dr. Anthony Akoto-Osei has threatened to sue the government for breaching certain constitutional guidelines on fiscal policy and mandatory constitutional disbursements.

These fiscal breaches, he said include the failure of the government to disburse to various agencies of government certain statutory monies including the NHIS Levy, GetFund, Social Security, and District Assemblies Common Fund.

“The government is breaking the law, if government breaks the law, what do you do…you have to take them to court [and] I will take them to court…,” he said.

The IMF on Friday April 3, 2015 approved Ghana’s request for a bailout to stabilise the country’s economy.

Ghana is expected to get 918 million dollars spread over three years following the board's approval.

For many, the funds could not have come at a better time as one of the main causes of the cedi’s depreciation has to do with the limited supply of dollars.

According to the Mission Chief for Ghana at the IMF, Joel Toujas-Bernate the $114 dollars should hit Bank of Ghana's account in the coming days.

But this arrangement, the NPP MP said would force Government to embark of certain fiscal restrictions which would lead to increased hardship in the country over the period.

He continued that government is expected to as a means of meeting the conditionalities of the Bretton Woods institution to cut expenditure by 2% of GDP.

The 2 billion Ghana cedi two percent cut, he said would affect goods and services and capital expenditure.

He continued that if the government knows very well that it can’t operate within the law, it has to cause for it to be changed.

The cut, he said would affect growth in the country leading to job cuts and increased hardships.

Source: Myjoyonline

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