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

Recommended Articles

Recommended Videos





Top Articles

1 Tragic Investigation launched into suicide committed by KNUST studentbullet
2 Watch Fufu is killing Africans - Pastor Mensa Otabilbullet
3 Tragic KNUST student commits suicide over exam resultsbullet
4 Revealed! Leader of assault on police officer at Flagstaff House...bullet
5 NPP Government Ghana Post gets new MDbullet
6 Assault OccupyGhana demands justice for lady stripped naked in...bullet
7 Xenophobic Attacks Say no to Xenophobia - TB Joshuabullet
8 Congratulations Ghanaian awarded CBE by the Queen of Englandbullet
9 Disaster Fire guts tanker yard at Ashaiman; 7 feared deadbullet
10 Infrastructure Construction of Awoshie-Pokuase...bullet

Top Videos

1 Health Alert Fufu is killing Africans - Mensah Otabilbullet
2 Watch Kumchacha delivers Counselor Lutterodt from 'demons'bullet
3 Night Life Some taxi drivers and their night driving experiencesbullet
4 Video Police officer attacked at Flagstaff Housebullet
5 Meet "The Beast" President Obama's Cadillac that's more tank...bullet
6 Obinim What happen'd when we fact checked Obinim's Bible knowledgebullet
7 Ashiaman This is what being a market queen is aboutbullet
8 Video Taxi driver terrified after an encounter with a ghostbullet
9 Marine Drive Project Time's up, but residents refuse to...bullet
10 Refugee Ghanaian to lose fingers after 7-hour trek to...bullet

News