Osei Kyei-Mensah-Bonsu, the Majority Leader in Parliament, has appealed to the Majority Caucus to halt discussions on the sacking of Finance Minister Ken Ofori-Atta until negotiations with the IMF have concluded.
Some members of the Majority Caucus in Parliament are mounting pressure on President Nana Akufo-Addo to sack Ofori-Atta, and the minister of state at the Finance Ministry, Charles Adu Boahen, to restore public confidence in the Ghanaian economy.
Speaking on The Asaase Breakfast Show on Wednesday (26 October), he said, “My advise after hearing them was that, if they were talking about this matter two or three months ago, that would have been different.”
According to the Suame MP, “even the first phase [of negotiation with the IMF] has not been concluded. Those conclusions will be factored into the budget.”
“They [IMF team] have come here on two occasions, the minister has led a team to Washington to follow up for the discussions, they are coming here again next week. And soon after, the conclusions we will derive will be captured into the budget that we are expecting not later than 15 November.
“We are pleading with them that looking at where we are, I am not too sure this is the appropriate time to be talking about this. So, I was pleading to let their feet pause the accelerator pedal for a while, maybe after the budget we could resurrect it. Now is not the best time,” Kyei-Mensah-Bonsu said.
The International Monetary Fund is already in talks with Ghana over a US$3 billion deal for budgetary support, aimed at reviving the economy and restoring investor confidence.
Addressing the media in Parliament on Tuesday (25 October 2022), the spokesman for the caucus and MP for Asante Akim North, Andy Appiah-Kubi, said the move will help save the economy from further collapse.
“We have had occasion to defend allegations of conflict of interest, lack of confidence and trust against leadership of our Finance Ministry. The recent developments within our economy are of great concern to the greater majority of members of our caucus and our constituents,” Appiah-Kubi said.
“We are by this medium communicating our strong desire that the president change the Minister [for] Finance and the minister of state in the Finance Ministry without further delay in order to restore hope into the financial sector and reverse the downward trend in the growth of our economy.
“The summary of our concern leads to the plea that the Minister of Finance, Ken Ofori-Atta, and the minister of state at the Ministry of Finance, Charles Adu Boahen, should be removed from office.
“Meanwhile, we want to serve notice that until such persons as aforementioned are made to resign or removed from office, we members of the Majority Caucus here in Parliament will not participate in any business of government by or for the president or by any other minister. If our request is not responded to positively, we’ll not be present for the Budget hearing, neither would we participate in the debate,” Appiah-Kubi told the media.
The International Monetary Fund has launched talks with Ghana over a US$3 billion deal for budgetary support, aimed at reviving the economy and restoring investor confidence.