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

24/7 Live - Subscribe to the Pulse Newsletter!

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

Download our mobile app today.

Android - Google Play Store

iPhone - Apple App Store

Recommended Articles

Recommended Videos




Top Articles

1 In Central Region Police intercept a bunch of cedi notes in over 30...bullet
2 Election 2016 Ghana's presidential candidates make final push before votebullet
3 Electoral Commission My husband did not design new EC logo -...bullet
4 Election 2016 Ghana's opposition candidate 'confident' he's wonbullet
5 Redevelopment Mahama opens Kejetia market today [Photos]bullet
6 2016 elections Nana Addo has won spiritually but… - Prophetbullet
7 Chaos At Bus Stations NDC, NPP hijack buses at terminals as...bullet
8 In Eastern Region NDC DCE robbed at gunpointbullet
9 Judgment debt Supreme Court adjourns Amidu vs Woyome...bullet
10 Election 2016 Weapons allegedly seized from an NDC...bullet

Top Videos

1 Kwame Nkrumah Interchange Water leaks from hole in wall at new Kwame...bullet
2 Woyome Judgement Debt Kweku Baako dances over Amidu's winbullet
3 Video IEA Presidential Townhall 2016bullet
4 Obinim saga We had sex only once - Obinim victims confessbullet
5 Elections 2016 Nana Addo holds conference in Kumasi ahead of Dec...bullet
6 Video Florence Obinim defends husband Bishop Obinimbullet
7 Watch Kumchacha delivers Counselor Lutterodt from 'demons'bullet
8 Obinim What happen'd when we fact checked Obinim's Bible...bullet
9 Video Taxi driver terrified after an encounter with a ghostbullet
10 Obinim Pastor charged with assault; sent to CID...bullet

News