The Minority in Parliament has said it is preparing to subject the debt exchange programme to legal scrutiny.
Minority Leader, Haruna Iddrisu in an interview with Evans Mensah on Top Story, Monday explained that per Article 181 (5) of the 1992 Constitution, the Minister needed approval from Parliament before announcing any haircut on all government bonds, loans and instruments since Parliament approved those bonds.
Article 181(5) of the 1992 Constitution requires that all international business or economic transactions to which the Government is a party must be laid before Parliament for approval before it can come into effect.
He believes the Minister may have breached Article 181(5) of the Constitution.
“We are even beginning to elevate this matter to a legal constitutional matter as to whether or not the Minister of Finance suo moto, by himself as an individual can undo what the sovereign Parliament of Ghana has done pursuant to Article 181(5) of the constitution.
“All those loans, all those bonds, all those instruments their terms and conditions were approved by Parliament including debt of domestic bonds, contractual relationships have been entered into. How can the Finance Minister allocate to himself the mandate to do this even without information to Parliament or with its prior approval?” Haruna Iddrisu quizzed.
According to the Tamale South MP, Ken Ofori-Atta has also deceived Ghanaians since he first announced that individual bonds will not be included in the debt exchange.
“When he appeared in Parliament with his 2023 Budget, he was very terce with information on the debt exchange. He refused to even apprise Parliament of the parameters and details of the exchange.
“He misled and deceived the Ghanaian public that there will be no haircut, that individual bonds will not be affected. He is now back to include them.”
Government has extended the deadline for registration for the debt exchange programme to January 31. This is the third extension of deadline.
But the Minority at a press conference on Monday said the extension will amount to nothing and called for an immediate suspension of the programme.
“We in the NDC, the Minority group call on President Nana Addo Dankwa Akufo-Addo to immediately suspend the ongoing debt exchange programme. It is already failing”, Haruna Iddrisu stressed.
Latest Stories
-
CAF Confederation Cup: ‘Ghanaians should expect victory against Stade Malien’ – Dreams FC forward Ishmael Dede
12 mins -
CAF Confederation Cup: ‘We want to go there and win’ – Karim Zito on Stade Malian clash
37 mins -
Togbe Adzie Lãkle Howusu XII endorses youth leadership as New Force Movement gains momentum
1 hour -
Public Utility Workers Union appeals to PURC to address power crisis
1 hour -
Anbariya loses another appeal in Kumasi as Appeal Court ratifies High Court ruling against the Islamic Institute
2 hours -
Highway construction health hazard: Ofankor-Pokuase-Nsawam residents appeal for dust relief
2 hours -
SuperJazzClub releases its first single of the year ‘Off’
2 hours -
Methodist Church to lobby Akufo-Addo for expedited assent to anti-LGBTQI+ Bill
2 hours -
Spare health facilities from unplanned ‘dumsor’ – Minority to government
2 hours -
Eritrea Observed World Tuberculosis (TB) Day 2024
2 hours -
Just give us ‘dumsor’ timetable to plan our operations – GMA tells ECG
3 hours -
Parliament petitions Chief Justice for an expedited hearing of cases against anti-LGBTQI+ Bill
3 hours -
The Attorney General vs NDC impasse – why they ‘fight’
3 hours -
High Court orders teacher unions to end strike
3 hours -
‘He worked with all staff irrespective of their status’ – GRA hails Dr Ammishaddai
3 hours