Pulse.com.gh logo
Go


Bailout IMF has no control over BOG Amendment Bill- Dr. Akoto Osei

According to Dr. Akoto Osei, parliament is a sovereign entity whose powers cannot be questioned by an organisation like the IMF.

  • Published:
IMF play

IMF

Member of Parliament  for Old Tafo and member of the Finance Committee in parliament, Dr. Anthony AkotO  Osei has maintained that the International Monetary Fund has no choice but to accept parliament’s approval of the Bank of Ghana Amendment Bill.

According to Dr. Akoto Osei, parliament is a sovereign entity whose powers cannot be questioned by an organisation like the IMF.

The IMF team in charge of Ghana’s three-year bailout program has expressed displeasure at the passage of the BOG Amendment bill which keeps thresholds of the  Central Bank’s financing of government’s budget at 5%.

READ MORE: Bailout Program IMF team unhappy with gov't disregard for bailout conditions

However, as part of conditions under the $918 million bailout program with Ghana, the Central Bank is required to reduce its five percent financing of the annual budget to 0%. This was supposed to be solidified by the amendment of the BOG Amendment Bill which hitherto placed the threshold at 5%.

The move has led to the suspension of the release of the third tranche of Ghana’s IMF funds, which should have been transferred in August.

Dr. Anthony Akoto Osei, however  says, “Parliament is a sovereign body and parliament thought that for the nation Ghana, that was not the best option so parliament kept to that side. If they [IMF] had an agreement with government that parliament did not like, parliament has the right to reject it,” he said.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Appointments Dr Hazel Berrard Amuah is new Human Resources Director for...bullet
2 Menzgold Issues Here’s why high profile Menzgold customers are silentbullet
3 How to create a verified PayPal account Learn how to create a...bullet
4 Takeover A1 Bakery to be sold to Chinese company for $5 millionbullet
5 Why Toyota cars are so popularbullet
6 Investment banks in Ghana Top 5 investment banks in Ghana and...bullet
7 How to write a memo How to write a memo like a probullet
8 Mobile Money Interoperability Cross mobile money...bullet
9 Menzgold Suit SEC responds to Menzgold suit to appear in...bullet
10 Ghana Cocoa Board President Akufo-Addo appoints 3 Dep....bullet

Top Videos

1 Selorm Adadevoh MTN CEO dances Agbadzabullet
2 Tech 6 reasons you should buy an iPhone SE instead of any of the fancy...bullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Forbes 2018 Africa's billionaires rich listbullet
5 Former Capital Bank staff grills pork for survivalbullet
6 Support Finance minister buys Kantanka carbullet
7 Money Alert Meet Africa's richest womanbullet
8 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
9 Dr Joseph Siaw Agyepong Nobody can collapse my company –...bullet

Business

X
Advertisement