Adnan Adams Mohammed
The Finance Minister, last week, appealed for the timely and necessary support from the legislative powers of the government to help speed up the economic recovery process.
The investment banker urged Parliament to support the government’s financing requests to ensure a smooth recovery from the present economic challenges.
Presenting the state of the Domestic Debt Exchange Programme in Parliament, Ken Ofori-Atta, said the country will recover from the current economic crisis sooner rather than later as indicated by President Akufo-Addo.
“With the successful completion of the DDEP, we believe that with the sustained support of Ghanaians and this august House, we will recover from this economic crisis sooner rather than later as indicated by H.E President Akufo-Addo. I am confident of this, that the Lord who has begun this good work will carry it on to completion as Phil. 1.6”, the minister said.
In his assurance for prudent fiscal management, he noted that the government will implement the necessary fiscal adjustments after the debt operation is completed and present it to Parliament for consideration and approval.
He expressed confidence that with the conclusion of the Domestic Debt Exchange programme the economy will experience stability in the exchange rates, inflation and interest rates, bringing businesses and families some respite.
“We will, therefore, encourage Hon. Members [Parliamentarians] to support the government secure Board approval for the IMF programme to restore macro-economic stability, ensure debt sustainability as well as provide critical social protection for the benefit of Ghanaians.”
The Finance Minister also urged Parliament to pass all the outstanding revenue bills which are necessary for effective Budget Implementation as well as boosting our efforts at increasing our Tax-to-GDP from less than 13% to the sub-Saharan average of 18%.
