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The Institute of Economic Affairs (IEA) has called for the establishment of an Independent Parliamentary Budget Office to monitor Ghana’s monetary and fiscal systems.
This, the institute says will ensure stricter monetary and fiscal management systems to transform the economy.
Addressing a group of Civil Society Organizations, the Director of Research at the IEA, Dr. John Kwakye, says a Parliamentary budget office is necessary for assessing and estimating the cost of government projects and programmes.
“We will follow this thing and make sure that some legislation is passed to its effect. We can’t allow any Finance Minister [Ken Ofori-Atta] to take us to 100 percent and come back and do Domestic Debt Exchange (DDEP) and seize people’s funds. Please join us and let’s impose it on them. We need to come up with legislation to do this,” Director of Research at the IEA, Dr. John Kwakye noted.
The voluntary Debt Exchange Programme seeks to tackle the current economic crisis, bring back macroeconomic stability and guarantee sustainable growth.
According to Ofori-Atta, not executing the domestic debt exchange programme would have brought “grave disorder” in its ability to service the country’s ballooning national debt and exacerbated the current economic crisis.
“The domestic debt exchange programme is being done to help protect the economy and enhance our capacity to service our public debts effectively.”
Pensioner Bondholders Forum have embarked on a number of pickets at the Ministry of Finance demanding their outstanding coupons and principals.
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