Minority Spokesperson on Finance, Dr Anthony Akoto Osei has expressed concerns over what he described as the International Monetary Fund’s (IMF) “diplomacy,” in analysing Ghana’s economy. According to him, the IMF has not painted the real picture about the true state of the economy and has resorted to only using “diplomatic language” while the economy continues to suffer.
“The IMF language is very diplomatic. When they[IMF] use statements like ‘The Programme is broadly on course in a very hostile economic environment’, all what they are telling you is that things are not good but they will not clearly state that.” Dr Akoto Osei believes their actions have partly contributed to Ghana’s current economic challenges. He made these comments in an interview with Eyewitness News host Richard Sky, while sharing his thoughts on the Ministry of Finance’s decision to return to Parliament to review oil revenue targets for the second time in 2015. The Minister Seth Terkper announced at a press conference on Thursday, that the revised estimate of petroleum benchmark revenue for 2015 may not be achieved.
“We are going into the 2016 budget, I said in my introduction that the hearings are ongoing and so we will take the oil price trend into account to determine two things, thus whether we will go back to cabinet and parliament to revise the last quarter figures or we will wait and rather look at the price trends and factor whatever new price into the 2016 budget,” the Minister said.
Parliament debate
Mr. Osei, on Eyewitness News, emphasized the need for Parliament to “be recalled” to debate on whether to approve the Ministry’s proposal or not.
He also indicated that the House will discuss other economic challenges facing the country.
Mr. Osei further explained that the “debate over Ghana’s economic challenges is very relevant especially when the country is moving into an election year.”
“There is currently an IMF programme which needs to be looked at. It has an impact on Ghanaians; removal of subsidies, adjustment of petroleum prices and so forth. These have direct impacts on us and we need to properly debate them to see which way is best for Ghana.”
Source – Citifm
