The Ranking Member on Parliament’s Finance Committee, Cassiel Ato Forson has said the Minority will resist what he calls government’s ploy to obtain state funds to finance election promises.
Mr. Ato Forson made these comments today, Thursday, May 28, 2020, after the Minister of Finance, Ken Ofori-Atta presented a report to Parliament on government’s decision to trigger section 30 (6) of the Bank of Ghana Act.
According to the Finance Minister, this is to help the government obtain GHS10 billion in domestic financing from the Central Bank to deal with the economic challenges occasioned by the Coronavirus pandemic.
Mr. Ofori-Atta also indicated that the Bank Of Ghana has already advanced GHS5.5 billion to the government this month to meet its financial obligations.
But addressing the media shortly after the Minister’s presentation in Parliament, the Ranking Member said: “We the members of the Minority will resist this because we think they are only using it to finance election promises particularly the election year expenditures. We think that this is avoidable, a waste and it should not be allowed.”
“We want to serve notice to the Minister of Finance that we are going to oppose this. We will not allow him because already they have breached the threshold and clearly what he is doing is not allowed. I heard the Minister and some other commentators saying that it’s being done in other countries but we cannot compare ourselves to England neither can we compare ourselves to America. They have low inflation already and we cannot copy blindly,” he insisted.
The post We’ll resist attempts to use BOG’s funds to finance NPP’s election promises – Minority appeared first on Citinewsroom - Comprehensive News in Ghana, Current Affairs, Business News , Headlines, Ghana Sports, Entertainment, Politics, Articles, Opinions, Viral Content.Read Full Story