The Minority in Parliament is accusing the Mahama administration and the International Monetary Fund of violating the country’s laws by approving and disbursing monies without parliamentary approval.
The Minority has, therefore, asked the International Monetary Fund to as a matter of urgency stop any further disbursement to the government.
The Minority said the ongoing disbursement under the three-year bailout from IMF, in its current state, is in breach of the laws of the country.
Under the IMF extended credit agreement, Ghana is to benefit from about US$918 million. The agreement aims to restore debt sustainability and macroeconomic stability in the country to foster a return to high growth and job creation, while protecting social spending.
The country received the first tranche of 114 million dollars in April. The IMF board approved the disbursement of the second tranche of about 116 million dollars to Ghana Monday August 31, 2015. This is expected to hit the account of the Bank of Ghana in the second week of September 2015.
But the Minority in Parliament is raising legal issues with the disbursement.
Minority Spokesperson on Finance, Dr. Anthony Akoto Osei told the media today that the Finance Minister was “prevailed” upon to bring the agreement to Parliament but that was never done.
A member of the Finance Committee of Parliament, Alexander Afenyo-Markin is demanding the recall of Parliament to ratify the loan agreement.
Article 181 (3) states, “No loan shall be raised by the Government on behalf of itself or any other public institution or authority otherwise than by or under the authority of an Act of Parliament.”
He said the Minority is prepared to go to the Supreme Court for interpretation of Article 181 (3 and 4).
He is therefore appealing to the IMF to stop any further disbursement.
“We strongly demand that the president and his government take immediate corrective measures and call on the Speaker to cause Parliament to be recalled to approve [the agreement]… We demand further, that this exercise be undertaken not later than, by the end of this month, September, 2015.”