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IMF talks to delay 2023 budget statement - Kyei-Mensah-Bonsu

Majority Leader Osei Kyei-Mensah-Bonsu has hinted at a delay of the presentation of the 2023 budget.

Osei Kyei Mensah-Bonsu

He told journalists on Thursday, November 3, that the 2023 budget cannot be presented on November 15, 2022, as expected due to the ongoing negotiations with the IMF for a $3-billion extended credit facility programme aimed at salvaging Ghana's plunging economy.

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The Public Financial Management Act provides that the following year's budget is read in mid-November of the current year.

However, Mr Kyei-Mensah-Bonsu said "if you want to do tidy work, you may be required to have some space to be able to do a tidy job, because, as you all know, these are not normal times."

In his view, "nothing should be done which will eventually become wishy-washy."

"They [IMF] want to have the best to be able to uplift us from where we are, as a country; and that being the case, if we want to do a thorough job, I think there will be too much pressure if it has to be done on the 15th.

We want more time to interrogate the principles underpinning the budget,” he added.

The minister of parliamentary affairs said he will consult the finance minister to agree on a new date for the budget.

This, in turn, means the president’s action on clamours for Mr. Ofori-Atta's dismissal from office, will delay.

The president had promised to deal with that matter after the finance minister presents the budget, moves the motion for the approval of the appropriation bill and reaches a deal with the IMF.

The promise by the president followed a demand by some 90 NPP MPs for Mr Ofori-Atta's exit from government.

President Akufo-Addo, in his recent national address on the economic crisis, said ongoing talks with the International Monetary Fund for a $3-billion extended credit facility programme are “going well” with a deal targeted at the end of 2022.

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