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Tag: Ofori-Atta

  • Minority to resist approval of budget estimates over sector ministers’ absence

    Mr Haruna Iddrisu, Minority Leader, says the group will resist the approval of budget estimates for ministers who fail to move the motion of the ongoing debate of the 2023 Budget Statement and Economic Policy of their respective ministries in the House.

    He expressed concern about how ministers of the various ministries were not taking the business of the House seriously.

    “Mr Speaker, going forward, we will resist the approval of any estimates coming from ministers who absent themselves from such exercises,” he said.

    Mr Iddirsu said this on the floor of Parliament on Thursday.

    Parliament is expected to conclude a debate on the 2023 Budget Statement and Economic Policy presented by Mr Ken Ofori-Atta, Finance Minister, Tuesday, December 6, 2022.

    The House is thus expected to subsequently approve the Appropriation Bill.

    Mr Iddrisu, the Member of Parliament for Tamale South on the ticket of the National Democratic Congress, further cautioned sector ministers to avail themselves to the House for the approval of their budgets.

    “When we get to the approval of budget estimates and ministers don’t appear in person in Parliament by themselves, we will not support the approval of the budget allocations to those ministries.

    “Ministers must take this House very seriously, and only ministers so appointed by the President to oversee the sectors of those ministries must rise from their seats to move motions to ask for budget allocations and approval by this House. Failure to do so will mean that we will stump down a number of those motions,” Mr Iddrisu said.

    He noted that Parliament and the minority would hold the government accountable, adding that “we intend to strengthen oversight, and it begins with this our decision. If ministers don’t appear in person to move motions for budget allocations, then they should expect the fiercest resistance from this side of the House.”

    Since the debate on the 2023 Budget Statement and Economic Policy began on Tuesday, November 29, the MPs on the Majority side have silently protested without showing up to contribute to the debate compared to the Minority side of the House.

    The group had also called for the timely debate of the censure motion against Mr Ofori-Atta since it was not captured in the Business Statement for the following week.

    “On the motion of censure against the Finance Minister, the words in Article 82 do not give Parliament perpetuity to discuss the matter, we are within defined time limits to consider the motion and take decisions as appropriate so whatever committee has been set up, we need to bring closure to it,” he said.

  • TUC opposes Public Sector employment freeze

    The government’s proposal to freeze employment in the Civil and Public services in 2023 has angered the Trades Union Congress (TUC).

    The TUC thinks the ruling is unjust because the government vowed not to do it.

    In his presentation of the 2023 budget statement on Thursday, Finance Minister Ken Ofori-Atta highlighted the government’s decision as one of several steps to rein in the spiraling public spending.

    On Friday, Deputy TUC General Secretary, Joshua Ansah said TUC is disappointed in government for that decision.

    “I am really disappointed about the freeze of employment in the civil and public services in 2023, because this is something that the TUC has spoken about it all this while. When the IMF team came to this country, we had the opportunity to meet with them and one of the issues we raised with them is about the freeze of employment that always becomes their conditionality anytime they access their programme, we were assured that that was not going to happen,” he stated.

    Mr. Ansah noted that the TUC will discuss this issue with its Social Welfare Committee and respond appropriately.

    Meanwhile, government has introduced a number of measures to cut its expenditure for the year 2023.

    Below is the full text of implementation of the Cabinet directives on expenditure measures

    Mr Speaker, as a first step toward expenditure rationalisation, Government has approved the following directives which take effect from January 2023:

    • All MDAs, MMDAs and SOEs are directed to reduce fuel allocations to Political Appointees and heads of MDAs, MMDAs and SOEs by 50%. This directive applies to all methods of fuel allocation including coupons, electronic cards, chit systems, and fuel depots. Accordingly, 50% of the previous year’s (2022) budget allocation for fuel shall be earmarked for official business pertaining to MDAs, MMDAs and SOES;

    • A ban on the use of V8s/V6s or its equivalent except for cross-country travel. All government vehicles would be registered with GV green number plates from January 2023;

    • Limited budgetary allocation for the purchase of vehicles. For the avoidance of doubt, the purchase of new vehicles shall be restricted to locally assembled vehicles;

    • Only essential official foreign travel across government including SOEs shall be allowed. No official foreign travel shall be allowed for board members.

    Accordingly, all government institutions should submit a travel plan for the year 2023 by mid-December of all expected travels to the Chief of Staff;

    • As far as possible, meetings and workshops should be done within the official environment or government facilities;

    • Government-sponsored external training and Staff Development activities at the Office of the President, Ministries and SOEs must be put on hold for the 2023 financial year;

    • Reduction of expenditure on appointments including salary freezes together with suspension of certain allowances like housing, utilities and clothing, etc.;

    • A freeze on new tax waivers for foreign companies and review of tax exemptions for the free zone, mining, oil and gas companies;

    • A hiring freeze for civil and public servants

    • No new government agencies shall be established in 2023;

    • There shall be no hampers for 2022;

    • There shall be no printing of diaries, notepads, calendars and other promotional merchandise by MDAs, MMDAs and SOEs for 2024;

    • All non-critical projects must be suspended for the 2023 Financial year.

  • No MMDA should give out hampers this Chistmas – Ofori-Atta

    Public sector workers, Municipal Metropolitans and District Assemblies (MMDAs) have been asked not to give out hampers to their stakeholders this Christmas.

    Finance Minister, Ken Ofori-Atta announced this decision on Thursday while presenting the 2023 Budget in Parliament.

    The decision forms part of the government’s measures to rationalise its expenditures in the wake of the prevailing economic hardship.

    “There shall be no hampers for 2022,” the Minister stated.

    Mr. Ofori-Atta further announced the ban on the printing of diaries, notepads and calendars by MMDAs and SOEs from 2024.

    “There shall be no printing of diaries, notepads, calendars and other promotional merchandise by MDAs, MMDAs and SOEs for 2024,” he added.


    “All non-critical projects must be suspended for the 2023 financial year.”

    The Minister said the move is geared towards expenditure rationalisation, in the wake of the economic woes.

    In addition to the reduction in expenditure, MDAs, MMDAs and SOEs have been directed to reduce fuel allocations by 50% to government appointees.

    “All MDAs, MMDAs and SOEs are directed to reduce fuel allocations to Political Appointees and heads of MDAs, MMDAs and SOEs by 50%. This directive applies to all methods of fuel allocation including coupons, electronic cards, chit systems, and fuel depots. Accordingly, 50% of the previous year’s (2022) budget allocation for fuel shall be earmarked for official business pertaining to MDAs, MMDAs, and SOEs,” he directed.

    Source: Myjoyonline

  • So even one pesewa will now be charged E-Levy? – Bright Otoo reacts to 2023 budget statement

    Broadcaster Bridget Otoo has bemoaned the move by the government to remove the daily limits to electronic money transfers that will attract the Electronic Transfer Levy (E-Levy).

    The Minister for Finance, Ken Ofori-Atta, has announced a proposal to review the Electronic Transfer Levy (E-Levy) from its current rate of 1.5 per cent to 1.0 percent.

    In addition to the reduction of the rate, Ofori-Atta also proposed the removal of limits on transfers that will attract the levy.

    “Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to one percent (1%) of the transaction value as well as the removal of the daily threshold,” he said.

    Reacting to this in a series of tweets on Thursday, November 24, Bright Otto said that the government, after promising that the poor would not be affected by the levy, now wants to charge all transactions.

    She berated persons who supported the government’s implementation of the level when questions were raised about how it would affect the poor.

    “All the town hall meetings about e-levy protecting the poor were just a waste of public funds to feed lies to an already impoverished people.

    “When we called gov’t out on its 100 cedi threshold lies, fool soldiers were up on their key boards defending. Here we are!

    “So, the footsoldiers I hope you heard him? E levy was already being charged on 5 cedis. Now 1 pesewa sef, it would be charged,” parts of her tweet read.

  • VAT to increase by 2.5% – Ken Ofori-Atta

    Government has increased its Value Added Tax (VAT) rate by 2.5 percentage points.

    This information was announced by Finance Minister, Ken Ofori-Atta, when he presented the 2022 budget statement in Parliament on Thursday.

    Prior to increase, VAT – standard rate was at the rate of 12.5%, National Health Insurance Levy (NHIL), 2.50%, Ghana Education Trust Fund (GFL), 2.50%, 1% COVID-19 Levy, 1%, (VAT) on NHIL and GFL and 1% COVID-19 Levy was 0.75%.

    From 19.25%, VAT will now hit 21.75%.

    “Mr. Speaker, the demand for roads has become the cry of many communities in the country. Unfortunately, with the current economic difficulties and the absence of dedicated source of funding for road construction, it is difficult to meet these demands. In that regard we are proposing the implementation of new revenue measures,” he said.

    According to him, the increase in VAT is expected to yield GHc2.70 billion which will be used to augment funding for the road infrastructure development.

    “This will be complemented by a major compliance programme to ensure that we derive the maximum yields from existing revenue handles,” he added.

    Source: The Independent Ghana

     

     

  • CHRAJ begins probe into Anas’ petition against Ofori-Atta

    The Commission on Human Rights and Administrative Justice (CHRAJ) has begun investigating a conflict of interest petition brought before it by Anas Aremeyaw Anas.

    The investigative journalist who is the founder of Tiger Eye P.I is urging CHRAJ to look into allegations that the private companies of Finance Minister, Ken Ofori-Atta and former Minister of State at the Finance Ministry, Charles Adu Boahen, benefitted from loans and bonds entered into by Ghana.

    Earlier, Mr. Ken Ofori-Atta had been accused of employing the services of a company he co-founded, Data Bank Financial Services – as advisors for some of Ghana’s international loan transactions.

    While Black Star Brokerage, a company belonging to Charles Adu Boahen has also been accused of benefitting from transactions on government bond issuance.

    Both companies have allegedly been acting as financial advisors and Bond Market Specialists to the Ministry of Finance.

    Confirming the development to JoyNews, CHRAJ Commissioner, Joseph Whittal said the Commission has received an official complaint from the Tiger Eye PI team and is assessing the materials presented to it.

    “The allegations are that there is conflict of interest in terms of their official duties as public officers and the companies in which they have interest in terms of government bonds and so the case is going through the standard process of assessment in order to make sure that it meets procedural requirement under the Commission’s regulation as well as whether it is really within the mandate of the Commission. Based on that, we will then decide what next steps to take,” Mr. Whittal said.

    Meanwhile, the Office of the Special Prosecutor has also commenced investigations into the same corruption allegations levelled against Charles Adu Boahen in an exposé after President Akufo-Addo’s referral of the matter to the Office.

    Background

    The Member of Parliament for Bolgatanga Central, Isaac Adongo in 2018 accused Ken Ofori-Atta of conflict of interest following the appointment of Databank Financial Services as transaction advisors to the Ministry and the Bank of Ghana (BoG) in the issuance of government bonds.

    The MP in a letter titled: ‘Databank must be withdrawn as TA to Ministry of Finance,’ said industry watchers and well-meaning Ghanaians needed to be “concerned” about the development, “especially given the things that unfolded at the Ministry of Finance with regard to public bond issuance since the assumption into office of Mr Ofori-Atta.

    “It lends credence to growing disquiet in the financial sector that family and friends are having a better part of government-related businesses, not track record, competence and clout,” he stated.

    According to him, Barclays Bank, Ghana, Standard Chartered Bank, Ghana and Strategic African Securities (SAS) used to be the book runners for the BoG. However, he said Databank was replaced with SAS given the relationship between the Finance Minister and Databank.

    “It is disgusting to note that Databank, which is the baby of the current Finance Minister, is now a book runner at the Bank of Ghana (BoG). It is instructive to note that the presence of Databank in the Transactions Advisor team puts the Minister of Finance in a potential conflict of interest situation,” he mentioned.

    Mr. Charles Adu Boahen while appearing before the Parliament’s Appointment Committee in 2021, said he was no longer involved in the running of Black Star Brokerage, which he owns. Mr Adu-Boahen said he had resigned from the company in 2017 and had since not engaged in any of its activities.

    “As I mentioned earlier, I resigned from the board and the management of Black Star Brokerage in 2017. I have no role and do not participate in its business dealings,” he stated.

    Meanwhile, the Ministry of Finance dismissed such claims that Databank and Black Star Brokerage were handpicked by the Finance Ministry and the Bank of Ghana to act as Bond Market Specialists for government bond issuance, hence benefiting from those transactions.

    In a statement, the Ministry said, it is incorrect the claim that these two firms have been appointed as advisors to the Ministry of Finance (MoF).

    “The selection of the Primary Dealers [PDs] and Bond Market Specialists [BMSs] is an automatic process based on market performance and historical secondary market trading activity which is publicly available and cannot be manipulated by the Ministry of Finance [MoF] or the Bank of Ghana [BoG]”.

    “Since 1996, the Ministry of Finance with the Bank of Ghana has developed and implemented various policies which affect the issuance and trading of Government of Ghana debt securities (Treasuries and Bonds). The ultimate objectives of these policies are to develop an efficient fixed income market, strengthen the capacity of local institutions and deepen financial intermediation”, it added.

    Furthermore, it pointed out that Databank and Black Star Brokerage are two out of nine firms that have been selected by BoG/MoF as Bond Market Specialists and not Advisors to MoF.

    Source: MyJoyOnline

  • NPP MPs make U-turn on boycotting Ofori-Atta’s 2023 budget reading

    The Majority in Parliament has rescinded its decision to be absent from the Chamber when Finance Minister, Ken Ofori-Atta, presents the 2023 budget and economic statement.

    Mr Ofori-Atta is scheduled to present the 2023 budget tomorrow, November 24.

    The Majority’s earlier position was that Mr Ofori-Atta could no longer be the face that represents the economy, thus should be replaced.

    As part of measures to ensure the president accepts their request, some 98 NPP MPs threatened to boycott the budget reading.

    Their actions prompted an intervention by the ruling New Patriotic Party. The leadership of the NPP on November 22 engaged the Caucus to find an amicable resolution to the impasse.

    NPP MPs reverse threats to boycott doing business with Ofori-Atta

    According to an NPP communique signed by the Majority Chief Whip, Frank Annoh-Dompreh, and the NPP General Secretary, Justin Kodua Frimpong, “the Leadership of the Parliamentary group and the Leadership of the Party counseled the Honourable Members of the Parliamentary Party to resort to the Caucus communications channels and, to the largest extent possible, work together as one Caucus unit,”

    The statement also stated that the Party has resolved that the President will act on the earlier demands of the MPs after the 2023 budget has been read and appropriated.

    The leadership of the Caucus has therefore entreated its members to attend to all government business in the house, particularly, the 2023 Budget Statement and Economic Policy and all related matters.

    Source: The Independent Ghana

  • Databank among companies with best responses for projects – Former MoF staff

    Mangowa Ghanney, a former director of the Ministry of Finance’s legal division, has stated that contracts for Ofori- Atta’s Databank have not been given out “fraudulently.”

    He thought Databank was among the top contenders for federal contracts.

    And before Ken Ofori-Atta was appointed finance minister, Databank was already conducting business with the government, he said.

    “And as far as I’m aware, Databank has never received anything on a silver platter.
    Asaasenews.com quotes him as saying, “Databank has always had to compete with any other organization to be a part of what the Ministry of Finance does.

    The former director also noted that Databank’s involvement in the government’s business was a result of the Ministry of Finance’s encouragement of local participation among Ghanaian businesses.

    “Ministry of Finance has for a few years now, had the policy to encourage local participation, and to do this we always tendered when there were projects available, and we evaluated and picked the best responses, and Databank happened to be one of those companies that we picked.

    “And this is not only during this Finance Minister’s tenure but, this was before this minister’s tenure,” Ghanney clarified.

    “The Ministry of Finance has worked with Databank, and we have worked with them and with other local financial institutions because they presented themselves as able to present the task,” he added.

    The finance minister has come under intense pressure to resign or be removed after various allegations have been levelled against him.

    One of such is the awarding of contracts to his bank, Databank where the Bank benefits from loans that Ghana borrows.

    But the finance minister denied the allegations saying they were “unfounded and untrue”.

  • Ofori-Atta must not be allowed to present 2023 budget – Appiah-Kubi

    Andy Kwame Appiah-Kubi, a spokesperson for Members of Parliament on the Majority Caucus who are demanding the dismissal of Finance Minister, Ken Ofori-Atta, insists they will not participate in the 2023 Budget hearing and passage if Mr. Ofori-Atta is not kicked out.

    Mr. Appiah-Kubi, the Member of Parliament for the Asante-Akim North constituency, does not think Ken Ofori-Atta is as indispensable as he is being portrayed to be.

    “If he is not there, can’t others present the budget? No one is indispensable. We have completely lost confidence in him because, in the 2022 Budget, he [Ofori-Atta] promised that with an E-levy and Property Rate, there will be no need to go to the IMF for support… As we speak now, that has not happened, and the property rate is even yet to take off.”

    “We are not convinced that it should be Ken Ofori-Atta and nobody else. It is our political decision that Mr. Ofori-Atta must go for the collective interest of the NPP,” he added.

    Mr. Appiah-Kubi reiterated that his group still stands by the position that the vote of censure being spearheaded by the Minority side would not yield any results since, after that move, they will still need to appeal to the President to remove him.

    He maintains that the majority MPs are not demanding Ofori-Atta’s removal on grounds of economic mismanagement, but because Ghanaians have lost confidence in him.

    Mr. Ken Ofori-Atta is expected to present the 2023 Budget Statement of government to Parliament on Thursday, November 24, 2022.

     

     

  • It’ll be unfair to ask Ofori-Atta to resign on the basis of economic crisis – NPP MP

    A Ranking Member on the Finance Committee of Parliament has opposed calls for the Finance Minister, Ken Ofori-Atta to resign as a result of the prevailing economic woes.

    Speaking in an interview on JoyNews’ Newsfile on Saturday, Dr Stephen Amoah said the Finance Minister cannot be blamed for the economic hardship being experienced by Ghanaians.

    “…This whole brouhaha as a matter of fact was based on the fact that our economy is not doing well and that it is his [Ofori-Atta’s] fault …. But is that a fact or not? In my opinion, that is not true. The fact that he is the cause of our economic decline, I don’t think that is true,” he said in Mr Ofori Atta’s defense.

    The Nhyieso MP added that “to the best of my knowledge GDP had grown from about 3.2, 3.4 averagely to about 7%. The policy rate was about 25.5 it had reduced to about 12.5, Treasury bills were about 22 point something, it has been reduced in about the same period to about 14. Reserve has been increased to about 5.8 to about 7.4. All these were happening. Globally, did anything happen or not? Factually, globally, something happened.”

    For this reason, Dr Stephen Amoah said asking the Finance Minister to resign due to economic hardship alone is unfair.

    “Were we asking the Finance Minister to step down based on the economic performance today or not? …I am saying that if it is the economy alone, then that will be very unfair,” he stressed.

    His assertion was in reaction to several calls from the public for the Finance Minister to resign because of economic hardships.

    In a related development, the Minority in Parliament has filed a censure motion to that effect. They cited seven claims.

    The claims are; conflict of interest, unconstitutional withdrawals from the Consolidated Fund, illegal payment of oil revenues into offshore accounts, deliberate and dishonest misreporting of economic data to Parliament, fiscal recklessness, alarming incompetence and gross mismanagement of the Ghanaian economy.

    Meanwhile, Finance Minister, Ken Ofori-Atta, has apologised to Ghanaians for the hardship being suffered in recent times.

    According to him, the brunt borne by the populace due to the ongoing economic turmoil is unfortunate.

    He said this when he appeared before the Ad-hoc Committee hearing the motion of censure against him.

    “Let me use this opportunity to say to the Ghanaian people what I believe, with courage, every Finance Minister around the world may wish to say to their people now. I am truly sorry,” he told the Committee on Friday.

    Source: MyJoyOnline

  • I’ve been to court 70 times because my party folks leaked a private discussion to NPP – NDC National Chairman

    The Chairman of the opposition National Democratic Congress (NDC), Samuel Ofosu Ampofo, says elements within his own party are behind his leaked audio tape, based on which he is currently standing trial.

    Speaking in a yet-to-air exclusive interview on Adom TV, the embattled Chairman told host, Daakyehene Nana Yaw Asante, that the leaked audio is an evidence of how cruel the NDC can be when they want to destroy one of their own.

    Substantiating his claims, he said the in-house traitors secretly recorded his comments in a closed door meeting and leaked the recording to the New Patriotic Party for him to be prosecuted.

    According to him, he has been to court on seventy separate occasions as a result of the internally orchestrated treachery.

    “When NDC wants to disgrace you, they first tag you as anti-Mahama. My own party folks recorded me at a meeting that I held with the party, with the people and went to sell the recording to the NPP, for which reason I’m standing trial. I’ve been to court 70 times”, he stated in a trailer to the yet to air interview.

    In addition to tagging an individual as anti-Mahama, he said some elements within the party can travel all length to cause disaffection for someone they do not like.

    The interview will be aired on Saturday, November 19 at 10:00pm on Adom TV’s weekend current affairs programme, Sɛdea Ɛteɛ Nie.

    Meanwhile, ahead of the airing of the interview, some supporters of the NDC have expressed disgust over the comments of the party’s National Chairman.

    According to his critics, his sentiments are unnecessary, as they will wreak more havoc for himself and the party at large.

    Others have however sympathized with him, and expressed solidarity with the alleged treachery he was subjected to.

    In their view, the revelations by the NDC Chairman is understandably from a place of pain, and therefore he should not be chastised.

    Currently, Mr. Ofosu Ampofo’s role as the NDC’s National Chairman is also being threatened by the decision of the party’s General Secretary, Johnson Asiedu Nketia to unseat him.

    In what has been described as the main contest in the party’s upcoming national delegates election, Mr. Asiedu Nketia is frantically taking steps to take control of the party as National Chairman ahead of the 2024 general election.

    Touching on this development, Mr. Ofosu-Ampofo stated in the yet-to-air interview that, the move by Asiedu Nketia to unseat him is politically inexpedient.

    According to him, notable personalities within the party, including the party’s Council of Elders and the NDC’s 2020 flagbearer, John Dramani Mahama, all made efforts to prevent the contest, but to no avail.

    The upcoming national delegates conference will however take place on 10th December, 2022, in the Ashanti Regional capital of Kumasi.

    Eligible party delegates will elect a new crop of executives to man the affairs of the party at the national level for the next four years.

  • Ghana’s debt jumps from GH¢120bn to GH¢450bn in last 6 years

    Ghana’s total debt stock has shot up to GH¢450 billion in 2022 from a total of GH¢120 billion in 2017, Finance Minister Ken Ofori-Atta has revealed.

    The current debt stock means Ghana has borrowed over GH¢300 billion since the Akufo-Addo-Bawumia-led government assumed power in January 2017.

    Appearing before the ad-hoc committee probing the grounds of censure filed by the Minority in Parliament, Mr Ofori-Atta said despite the astronomical increase in Ghana’s debt stock, the focus should be on what the loans have been used for and its benefits to the nation.

    Mr Ofori-Atta stated that the GH¢330 billion loan has been invested in One-District-One Factory, education, interchanges, Planting for Food and Jobs and other sectors that he claims have benefitted the state.

    The Finance Minister also dismissed suggestions that he has mismanaged the country’s finances.

    “Fiscal recklessness leading to the crash of the Ghana cedi which is currently the worst performing currency in the world” was one of seven grounds put forward by the Minority to demand the removal of Mr. Ofori-Atta.

    He added that on the contrary, the government’s “strenuous efforts to protect the public purse is what has helped”.

    He argued that he has as required of him always presented government revenue and expenditure propositions to Parliament, who have in turn raised no concerns.

  • Censure committee ends sittings; requests for more time to file report

    The ad-hoc committee tasked by the Speaker of Parliament to probe the censure motion filed against the Finance Minister, Ken Ofori-Atta, is requesting for more time to file its report.

    The request was announced by a co-chairman of the committee, Dominic Ayine after the committee, concluded its proceedings on Friday, November 18, 2022, after hours of grilling the Finance Minister.

    “Today is the last day that was given to us by Mr. Speaker, hopefully we will apply to the Speaker for extension of time to be able to file our report next week, and the purpose of the report is to simply continue the debate on the motion for the vote of censure. And the report will be laid in Parliament hopefully next week Tuesday,” he concluded in his remarks.

    KT Hammond, another co-chair, announced that the committee would have to present a draft copy of the report to the Finance Minister to ensure that his responses are properly captured before the full report is tabled before Parliament for debate.

    Seven allegations have been levelled against the Finance Minister by the Minority in Parliament, calling for his removal from office.

    The Minister is accused of conflict of interest, gross mismanagement, recklessness of the economy among others.

    The committee was given seven days by the Speaker to probe the censure of motion, which ended today.

    The Committee was set up by the Speaker of Parliament Alban Bagbin, chaired by Dominic Ayine and K.T Hammond.

    The fate of the Finance Minister will be known after the committee had presented its report to the Speaker, as to whether the censure of vote will go in his favour or otherwise.

    Source: Citinews

  • Deliberate misreport of economic data to Parliament against me unfortunate – Finance Minister

    Finance Minister Ken Ofori-Atta has clarified that he has at all times provided Parliament accurate information pertaining to the state of the economy.

    The Ministry in Parliament who argue otherwise have accused Mr Ofori-Atta of misreporting economic data to the House.

    Appearing before the eight-member committee tasked to probe into the censure motion against him, the Finance Minister described such comments as “unfortunate” and “false”.

    “The Ministry of Finance has never misreported data to Parliament,” he said.

    The Minority say that information on Ghana’s deficit are contradictory, but the sector minister says this is not so.

    Mr Ofori-Atta also revealed that the government has provided accurate data to the International Monetary Fund (IMF) so far in their engagements.

    More soon…..

     

  • Anas’ exposé: ‘Tiger Eye has no video depicting any interaction with Ofori-Atta’ – Baako

    The embattled Finance Minister, Ken Ofori-Atta, and Tiger Eye P.I. investigators did not meet in Dubai, according to Abdul Malik Kweku Baako, editor-in-chief of the New Crusading Guide.

    Asaase radio, a pro-NPP media outlet, said in a report that Anas’ agents met with the Finance Minister in Dubai. They claimed that during their five-minute conversation, the minister became annoyed when the Tiger Eye team tried to ‘entrap’ him with a financial gift.

    According to the report, Tiger Eye P.I. agents pretended to be investors looking to make investments in Ghana and required a meeting with the minister to explore potential and other business-related matters.

    It further established that the investigators had earlier met with Charles Adu Boahen, Ofori-Atta’s deputy back in 2018, in a hotel suite in the United Araba Emirates, UAE, where the now dismissed Adu Boahen was given monies in lieu of helping the investors get access to among other Vice President Mahamudu Bawumia.

    After their meeting, they then proceeded to meet with Ken Ofori-Atta briefly at the Dubai airport while he was on transit to Tokyo on an official assignment.

    The report said neither the minister nor his PA accepted the money gift from the Tiger Eye P.I. team.

    “Mr. Ofori-Atta was informed the meeting was with the Chairman of Al Baraka Islamic Bank of Bahrain, whose interest was to invest $500m to set up an “ethical” bank in Ghana.

    “The meeting, per our checks, lasted some five minutes. Ken Ofori-Atta left very irritated when he was offered a “gift”, which he refused to accept, and walked out with his PA who was also offered a gift that was rejected as well,” the Asaase radio report added.

    But Abdul Malik Kweku Baako in a comment to a Facebook post explained that there is no video with the Tiger Eye team which depicts the narration in the news report.

    “The last time I checked, Tiger Eye has no video depicting any interaction with Ken Ofori-Atta! None!

    “Assuming without admitting that there were attempts to “entrap” Ken Ofori-Atta, and the attempts proved unsuccessful? What would that mean? That Adu Boahen failed the “test of integrity” while Ofori-Atta succeeded? Or?” he quizzed.

    Baako, however, explained that documentaries are to tell a story and not exhibits in criminal investigations but rather the “raw footages” of the documentary are what can be used as exhibits in criminal proceedings.

    He said, any time a project of Tiger Eye P.I. has become a subject of criminal prosecutions, the Tiger Eye P.I. team submits the “raw footages” as part of their exhibits in court.

    “By the way, documentaries are not exhibits in criminal investigations and/or prosecutions. The RAW FOOTAGES are. And the latter have always been submitted to the relevant statutory authorities for the purposes of criminal investigations and prosecutions that were triggered by undercover ops by/of Tiger Eye!

    “People are entitled to ask questions of Tiger Eye and its “methodologies”. That’s fair game. No problem. Tiger Eye will continue to unearth any and all “negatives” applying its “methodologies” whether its critics like it or not!

    “For now, Tiger Eye has indicated its readiness to assist the investigation announced by the Special Prosecutor; upon the presidential referral of the conduct of Mr. Adu Boahen to the OSP! DUE PROCESS is underway. That’s where Tiger Eye’s FOCUS is!

    “Those who want to continue asking questions and criticising “methodologies” and perceived/alleged omissions of Tiger Eye, are entitled to continue! FREE SPEECH!!” Kweku Baako stressed.

  • Ken Ofori-Atta apologises to Ghanaians for economic hardships

    Finance Minister Ken Ofori-Atta has rendered an apology to the good people of Ghana over the current economic hardship they are facing.

    Appearing before the ad hoc committee instituted by Speaker Alban Bagbin, the Finance Minister on Friday noted that it has been the vision of the Akufo-Addo-led government to develop the country.

    “Since the Akufo-Addo government came into office, it was the dream of making the lives of the people better. In the first four years, our efforts were leading to the realization of the vision,” he said.

    However, he noted that the success chalked by the government has been erased by the COVID-19 pandemic and other external factors.

    Nonetheless, he took responsibility for the current economic situation and said “I am sorry.”

    According to Mr Ofori-Atta, “as a person President Akufo-Addo has put in charge of this economy, I feel the pain personally, professionally and in my soul.”

    Despite the challenges being faced, the sector minister noted that “government remains focused on its vision.”

    The Minority in Parliament argue that Mr Ofori-Atta has among other things; made unconstitutional withdrawals from the Consolidated Fund, illegal payment of oil revenues into offshore accounts, misreported economic data to Parliament, mismanaged the economy, leading to the depreciation of the Ghana cedi.

  • LIVESTREAMING: Ofori-Atta to appear before ad-hoc committee

    On November 18, 2022, Finance Minister Ken Ofori-Atta will testify before an eight-person ad hoc committee of Parliament looking into a vote of censure against him.

    Ofori-Atta’s counsel,Gabby Asare Otchere-Darko, asked the committee to give his client 48 hours to review the minutes from its first meeting on Tuesday, November 15, 2022.

    The minority in Parliament brought the motion of censure against Ken Ofori-Atta.

    Seven claims were made against the minister, including extravagant spending, conflicts of interest, financial irresponsibility that caused the Ghana cedi to plunge, and egregious economic mismanagement.

    An eight-member ad hoc committee from both sides of the house was set up on November 10 by the Speaker of Parliament to probe the motion.

    On Tuesday, November 18, 2022, when the first sitting was held, the minority was represented by the Minority Leader, Haruna Iddrisu, and, Minority Spokesperson on Finance, Cassiel Ato Forson, proponents of the motion.

  • Ofori-Atta censure hearing frustrating so far – Kojo Asante

    Director of Advocacy and Policy Engagement at the Centre for Democratic Development Ghana (CDD-Ghana), Dr. Kojo Pumpuni Asante, is dissatisfied with how Finance Minister, Ken Ofori-Atta’s censure hearing is being conducted. 

    He says the hearing has so far been frustrating, contrary to public expectations.

    “It has just become like a courtroom. It was meant to be a debate; an establishment of facts in parliamentary style, but it has just become like a courtroom,” he said. 

    The committee’s Tuesday hearing got off to a rough start as its members disagreed about how the minority members should present their case against the Finance Minister.

    Some committee members wanted the hearing to be handled like a quasi-judicial process.

    However, Dr. Asante contends that given the current economic situation, such discussions are not necessary.

    “I don’t know whether it is because there are too many lawyers leading these processes. It becomes a thing about needing evidence and so on… That is not helpful. Part of that, I find very frustrating.”

    “This could have been dealt with a long time ago if the President had listened to all of us. Unfortunately, we are now in the space of this tug of war, and still, our crisis hasn’t gone anywhere,” he added.

    The Minority in Parliament is seeking the removal of the Finance Minister, Ken Ofori-Atta, from office over what they describe as “despicable conflict of interest, unconstitutional withdrawals from the Consolidated Fund, illegal payment of oil revenues into offshore accounts, deliberate and dishonest misreporting of economic data to Parliament, alarming incompetence and frightening ineptitude, gross mismanagement of the Ghanaian economy, and fiscal recklessness leading to the crash of the Ghana Cedi.” 

    They have accused the minister of displaying gross incompetence while in office. 

    Meanwhile, the hearing continued yesterday, when the Public Interest Accountability Committee (PIAC) and the Ghana National Petroleum Corporation (GNPC) sat before the committee.

    The Finance Minister is also expected to appear before the Committee today, Friday, November 18, 2022, following his lawyer, Gabby Asare Otchere-Darko’s request for some time to prepare based on the evidence tendered to the committee by the Minority.

    Meanwhile, former United Nations Senior Governance Advisor, Professor Baffour Agyeman-Duah, shares a similar opinion.  He said the hearing was unnecessary. 

    “I think we’ve come to a point where this matter should be resolved. It’s not necessary to go through this whole process. And I do agree with Amoako Baah and the others that look, this matter should have been settled right on the floor of Parliament. All this process of committee and… I don’t think it’s necessary. We are prolonging something that is inevitable,” he said.

    He further entreated the Minister to either willingly resign from his post or be dismissed by the President. 

    He claims that the government’s failure to heed the calls and terminate the minister’s appointment will not only exacerbate the economic crisis, but could also lead to a constitutional crisis. 

    “Well, my hope is that we will not get there. What I expect to happen in the coming days or weeks is perhaps the Finance Minister taking himself out of this dilemma, or the President just announcing that he’s displacing the Finance Minister because it will just be tragic for these two individuals to lead the country into such a constitutional jam. We don’t want that.

    “We all know the difficulties we face, and in fact what we’re not even thinking about is the very negative impact of this crisis, or this stalemate I should say on our international partners and our financial relations with the outside world. Somewhere else our market would have plummeted further.

    “So in fact we are doing ourselves a lot of ill if in fact the President and the Finance Minister continue to be intransigent on this matter and not to appropriately respond to the ground swell of public demand for the displacement of the Finance Minister,” he said.

    Source: The Independent Ghana

  • Kwesi Pratt: How was KT Hammond chosen to co-chair the Committee on the removal of Ofori-Atta?

    Kwesi Pratt Jnr, managing editor of the Insight Newspaper, has expressed concern about the composition of the ad hoc committee set up by Speaker of Parliament Alban Bagbin to investigate a censure motion against Finance Minister Ken Ofori-Atta.

    Kwesi Pratt questioned the consideration that went into the selection of the committee members during a Good Morning Ghana panel discussion  on November 16.

    He also stated that the committee members have been engaging in unnecessary confrontations, which is sending the wrong message to the general public.

    “…if you look at the members of the ad hoc committee… I’m sitting back as a citizen, and I’m just wondering what went into the selection of these persons as members of the ad hoc committee. And I can’t make up my mind. What went into the selection?

    “What consideration went into the selection of KT Hammond as co-chairman of this committee… Normally, if you look at such committees as laypersons, you will be able to tell what went into the selection of certain people based on their background, their practices, and so on.

    “Now I am totally confused. There is the other co-chairperson, and I am also asking why. A considerable amount of time on the committee is being spent on needless contestations. Why that is happening, I don’t know. All of us who are watching this drama play out have to be exceedingly careful about the signals we send out there into the public domain,” he said.

    The 8-member ad hoc committee started work on Monday, November 14, and it is expected to make a determination on the removal of Ofori-Atta within 7 days.

    The committee is co-chaired by Members of Parliament (MP) for Adansi Asokwa, Kobina Tahir Hammond, and Bolgatanga, Dominic Ayine.

    The members of the committee from the minority caucus include the MP for North Tongu, Samuel Okudzeto Ablakwa; the MP for Korle Klottey, Zanetor Agyeman-Rawlings; and the MP for Akatsi South, Bernard Ahiafor.

    The other members from the majority caucus are MP for Okaikwei Central, Patrick Yaw Boamah; MP for Asante-Akim Central, Michael Kwame Anyimadu-Antwi; and MP for Sekondi, Andrew Kofi Agyapa Mercer.

     

  • Anas’ agents tried but failed to ‘bribe’ Ofori-Atta in Dubai in 2018 – Report

    It has now been established that the ‘Galamsey Economy’ documentary by Anas Aremeyaw Anas had footage from 2018 forming the juiciest part, an alleged bust of a Minister of State soliciting bribes for others and and receiving same for himself.

    In opening up on the extent of his involvement in the episode that has since gotten him fired by President Nana Addo Dankwa Akufo-Addo, embattled Charles Adu Boahen, said his encounter with investigators clothed a business men was on 8 February 2018.

    Whereas he accepted a gift of undisclosed amount of dollars, a pro-government radio station, Asaase Radio, is reporting that the Finance Minister, Ken Ofori-Atta turned out to be the major target of the Tiger Eye PI agents.

    Read relevant portions of the Asaase Radio report of November 14 below:

    After the meeting with Charles Adu Boahen, Tiger Eye, was not satisfied and wanted to trap the bigger fish, Finance Minister, Ken Ofori-Atta.

    They were to have their chance, they thought, when after several attempts Mr. Ofori-Atta agreed to meet them at the airport in Dubai on transit to Tokyo, Japan.

    In the company of his then Personal Assistant (PA), Michael Bediako, Mr. Ofori-Atta met the supposed investors (investigators) at the Dubai terminal hotel (Dubai International Airport) on 5 April 2018 at around 6:30am.

    Mr. Ofori-Atta was informed the meeting was with the Chairman of Al Baraka Islamic Bank of Bahrain, whose interest was to invest $500 million to set up an “ethical” bank in Ghana.

    The meeting, per our checks, lasted some five minutes. Ken Ofori-Atta left very irritated when he was offered a “gift”, which he refused to accept, and walked out with his PA who was also offered a gift that was rejected as well.

    Background

    Charles Adu Boahen, then a deputy Minister of Finance was implicated in the ‘Galamsey Economy’ investigative documentary released by investigative journalist Anas Aremeyaw Anas on November 14.

    The now dismissed minister was captured on tape making comments to the effect that access by investors to Vice President Mahamudu Bawumia could be facilitated at a cost of US$200,000.

    Bawumia has dispelled the allegations and insisted that his integrity remains his most cherished asset in life.

    “My most cherished asset in life is my integrity and I will not allow anyone to use my name to engage in corrupt activities,” Bawumia said in a post calling for the minister’s dismissal.

    President Nana Addo Dankwa Akufo-Addo has since terminated Adu Boahen’s appointment and referred the contents of the investigation to the Office of the Special Prosecutor.

    Source: Ghanaweb.com

  • Why use misreported data IMF rejected? – Egyapa Mercer to Minority

    The NPP MP for Sekondi Constituency in the Western Region, Andrew Kofi Egyapa Mercer, has said that the Minority in Parliament is rehashing old and debunked allegations against the Minister of Finance, Ken Ofori-Atta.

    Mr Mercer said the allegations of misreporting were first raised in May 2020, and rejected by the International Monetary Fund (IMF) as being untrue.

    He, therefore, wondered why the Minority would use the same issues as bases for a motion of censure against Mr Ofori-Atta.

    The MP made the statement at the first hearing of the Ad Hoc Committee on the motion of censure brought against the Finance Minister.

    Egyapa Mercer’s claim was also in response to Dr Cassiel Ato Forson’s presentation which was centred on the misreporting of the fiscal deficit, fiscal treatment of expenditures above or below the line and general public sector accounting.

    The MP said the past Country Representative of the IMF, Dr Albert Touna Mama, had debunked the allegations on Joy News File in May when he was called to respond to them when first raised by Dr Forson.

    “Indeed, the said Dr Touna Mama was the Country Representative of the IMF. He was called to respond to allegations on misreporting of figures that the Finance Ministry had presented to IMF and he said all the figures were known by the IMF and therefore it was untrue that there was misreporting,” Mr Mercer said.

    Meanwhile, in May 2020, Dr Touna Mama said that whilst his outfit tried “as much as possible to stay out of debates” they felt compelled to clarify statements made by Fact Check Ghana concerning the $1 billion IMF COVID-19 relief fund to the government.

    Fact Check Ghana, an affiliate of the Media Foundation for West Africa, through its website, stated that government of Ghana presented data to the IMF which was different from figures in the annual budgets for 2018 and 2019.

    But speaking on Joy FM’s News File Programme in May 2020, the IMF Country Representative to Ghana, Dr. Albert Touna Mama suggested that Fact Check Ghana misrepresented the facts because the government was not the one that presented the figures that the IMF published in its statements as Fact Check Ghana reported.

    The IMF Country Director explained that the difference in figures was as a result of a difference in the methodology of calculation, adding that the figure in fiscal deficit in their statement was a figure they generated themselves from the data government presented to them, having added financial and energy sector payments in line with their methodology, which is different from government’s methodology.

    Earlier, Mr Ofori-Atta, asked the committee for a fair hearing.

    He asked that he be furnished with the documents that they intended to rely upon, to execute the motion of censure initiated against him.

    The minister’s lawyer, Gabby Asare Otchere-Darko, said the rules of natural justice and fair hearing required that the accused was not only heard but also necessarily be furnished with the documents that formed the bases of the allegations made against him.

     

     

  • Ken Ofori-Atta sleeps away his impeachment hearing 

    Finance Minister, Ken Ofori-Atta, has been sighted dozing off at the maiden hearing of the eight-member Committee set up to probe the censure motion brought against him by the Minority in Parliament.

    Barely two hours into the hearing which began today November 15, the visibly tired Finance Minister was captured on national television sleeping away an all-important hearing that could otherwise revise his fate as the manager of Ghana’s economy.

    The hearing which is still underway, Ranking Member on the Finance Committee of Parliament, Dr Cassiel Ato Forson is making submissions as the star witness to the no confidence motion against Ken Ofori-Atta.

    As part of his argument, Dr Ato Forson asserted that the huge debt overhang is the principal precipitator of the current economic crisis culminating into untold hardship Ghanaians endure daily.

    Some Twitter users have shared their opinions on Mr Ofori-Atta being unable to give his full attention during the sitting.

    Minority leader Haruna Iddrisu and Gabby Otchere Darko, the lawyer of the Finance Minister, also appeared before the Committee.

    Today’s sitting comes after the Minority moved a censure motion against the Finance Minister. They argue that Ghana’s economic woes should be pinned on Mr Ofori-Atta.

    Following a heated debate in Parliament last week, Speaker Alban Bagbin instituted an ad hoc committee to be co-chaired by MP for Bolga East, Dominic Ayine and Adansi-Asokwa legislator, Kobina Tahir Hammond to look into the matter.

    Other members of the committee include North Tongu MP, Samuel Okudzeto Ablakwa, Klottey-Korle, the Dr. Zanetor Agyeman-Rawlings, and Okaikoi North MP, Emmanuel Ahiaku, from the Minority side.

    Representatives from the majority side are Okaikwei Central MP, Yaw Boamah, Asante-Akim Central legislator, Kwame Anyimadu- Antwi, and Sekondi MP, Egyapa Mercer. The clerk to the committee is Mr Boamah Camilo, the Speaker added.

     

     

     

  • PLAYBACK: Ad hoc Committee probes Ofori-Atta’s censure motion

    The 8-member committee tasked by Speaker Alban Bagbin to probe into the censure motion filed by the Minority against Finance Minister, Ken Ofori-Atta, has commenced its sitting.

    The sitting co-chaired by MP for Bolga East, Dominic Ayine and Adansi-Asokwa legislator, Kobina Tahir Hammond is being broadcast live.

    Minority leader Haruna Iddrisu is expected to testify today.

    Other members of the committee include North Tongu MP, Samuel Okudzeto Ablakwa, Klottey-Korle, the Dr. Zanetor Agyeman-Rawlings, and Okaikoi North MP, Emmanuel Ahiaku, from the Minority side.

    Representatives from the majority side are Okaikwei Central MP, Yaw Boamah, Asante-Akim Central legislator, Kwame Anyimadu- Antwi, and Sekondi MP, Egyapa Mercer. The clerk to the committee is Mr Boamah Camilo, the Speaker added.

    According to Mr Ablakwa, the public sittings will ensure “transparency and accountability:.

     

     

  • Advise your husband to resign – NDC’s Barbara Asamoah to Mrs Ofori-Atta

    Deputy General Secretary of the National Democratic Congress (NDC), Lawyer Barbara Serwaa Asamoah, has urged the wife of Finance Minister Ken Ofori-Atta, Prof Angela Ofori-Atta, to advise her husband to step down from his position.

    According to her, Prof Ofori-Atta should advise her husband to resign because everything shows that Ofori-Atta has lost control of Ghana’s economy, and he is now becoming an embarrassment.

    Lawyer Serwaa Asamoah added that Ofori-Atta had made enough money that can take care of his generation yet to be born and so he should not be worried about losing his job.

    “… he (Ofori-Atta) can’t do the job; none of his actions shows that he can do the job, so why is the president keeping him at post. So, should Ghana collapse because of one person?

    “For the past six years, the money you have made can take care of your children, your great-grandchildren and your great, great-grandchildren. So, why all this fuss? What does he (the finance minister) want in addition?

    “… he is disgracing his wife and his children. The woman who is the wife of Ofori-Atta is being disgraced too much. You (the Ofori-Atta family) must speak to him so that he will accept that he has to resign,” she said in Twi in an XYZ TV interview monitored by GhanaWeb.

    Meanwhile, the over 80 New Patriotic Party (NPP) Members of Parliament who demanded that President Nana Addo Dankwa Akufo Addo relieve Finance Minister Ken Ofori-Atta have reiterated their decision.

    According to the MPs, they are not in agreement with President Akufo-Addo’s request for Ofori-Atta to read and see the 2023 budget through appropriation.

    The MP for Effiduase-Asokore, Nana Ayew Afriyie, who spoke on behalf of the over 80 MPs in Parliament on Thursday (November 10), said that they have decided that Ofori-Atta should not be the one to read the budget or lead the subsequent process.

    “Over the days, we have heard the finance minister speaking, and his speaking has influenced majority of us in the caucus, not only to state that we are back to the original position that we took, and that position is that the minister of finance must not be the one to read the budget, and must not be the one that would do the appropriation.

    “We are here to tell you this morning that our position will be very soon for you to see, and we will be positively defiant about that posture until action is taken,” he said.

  • Finance Minister highly unlikely to present the 2023 Budget – Alfred Ogbamey

    A member of the National Democratic Congress, Alfred Ogbamey, says the Finance Minister, Ken Ofori-Atta may be out of office by next week.

    According to him, following recent agitations from the Majority side in Parliament and the Minority filing a motion of censure against the Minister, it is expected that Ken Ofori-Atta will step down sooner than is expected.

    “Well my information is that the Finance Minister may not be around. If my information is right, by next week he may not be around. They were looking at end of November but given the stance of his own MPs as well as the Minority it is highly unlikely that he may present the budget,” he said on JoyNews’ Newsfile Saturday.

    Earlier, Majority MPs in Parliament had threatened to boycott the reading of the 2023 budget if Finance Minister, Ken Ofori-Atta was not sacked.

    Addressing a press conference, the NPP lawmakers stated that they are displeased with the management of the economy under Ken Ofori-Atta.

    The MPs have therefore signed a petition urging the President to sack his cousin, Ken Ofori-Atta.

    “We have made our great concern to the President through the Parliamentary leadership and the leadership of the party without any positive response.

    “We are by this medium communicating our strong desire that the President changes the Minister of Finance and the Minister of State at the Finance Ministry without any further delays, in order to restore hope in the financial sector and reverse the downward trend in the growth of the economy”, MP for Asante Akim North, Andy Appiah-Kubi said.

    The legislator continued, “meanwhile we want to serve notice, and notice is hereby served 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 by any other minister.”

    Following an intervention from the Presidency and the New Patriotic Party officials, the NPP MPs relaxed their ultimatum after being assured that their concerns will be revisited after an IMF deal has been reached and the 2023 Budget statement read and appropriated.

    Nonetheless, the Minority caucus in Parliament filed a motion of censure against the Finance Minister.

    The grounds for the Minority’s motion include mismanagement of the economy, alleged withdrawals from the Consolidated Fund, and illegal payment of oil revenues into offshore accounts among other reasons.

    The Speaker of Parliament has since directed the motion to be presented to an adhoc committee to interrogate the reasons for the vote of censure against the Minister.

    Source: Myjoyonline

  • All the times Ofori-Atta presented ‘wrong’ figures to parliament – Muntaka details

    The Member of Parliament for Asawase in the Ashanti Region, Mubarak Mohammed Muntaka has detailed that finance minister Ken Ofori-Atta has presented inaccurate figures to Parliament on four occasions.

    According to him, the figures change when the Minister is asked to present to international bodies such as the World Bank and the International Monetary Fund.

    He made the comments during a debate on the floor of parliament on a vote of censure against the Finance Minister, Ken Ofori-Atta.

    He said: “In 2018 he reported to this house that the fiscal deficit was 3.9% of GDP when he had to report to the World Bank the actual was 7.1% of GDP
    In 2019, he reported that the fiscal deficit was 4.8% when the actual to be reported to the International Monetary Fund the actual was 7.1% to GDP
    In 2022, he reported that the fiscal deficit was 11.7% of GDP when the actual was 17.2 %. In 2021 he reported 9.2% when the actual was 12.4%.”

    He said that the finance minister has shown beyond doubt that he is not able to the finances of the country, thus must be removed.

    “What are we waiting for, from this Minister before we will now believe the time has come for him to exit? I am reliably informed that he is part of the impediment that is not making us conclude the negotiations with the IMF,” he said.

    On November 10, 2022, the NPP side of parliament boycotted the vote of censure to remove Ofori-Atta.

    The Speaker of Parliament, therefore, instituted an ad-hoc committee to probe the Finance Minister, after which their report will be presented to parliament for further debate.

    Source: Ghanaweb

     

  • Ofori-Atta should not be the one to present 2023 budget – NPP MPs remind Akufo-Addo

    The over 80 New Patriotic Party (NPP) Members of Parliament who demanded that President Nana Addo Dankwa Akufo-Addo relieve Finance Minister Ken Ofori-Atta have reiterated their decision.

    According to the MPs, they are not in agreement with President Akufo-Addo’s request for Ofori-Atta to read and see the 2023 budget through appropriation.

    The MP for Effiduase-Asokore, Nana Ayew Afriyie, who spoke on behalf of the over 80 NPPs at Parliament on Thursday (November 10), said that they have decided that Ofori-Atta should not be the one to read the budget or lead the subsequent process.

    “Over the days, we have heard the finance minister speaking and his speaking has influenced majority of us in the caucus, not only to state that we are back to the original position that we took, and that position is that the minister of finance must not be the one to read the budget, and must not be the one that would do the appropriation.

    “We are here to tell you this morning that our position will be very soon for you to see, and we will be positively defiant about that posture until action is taken,” he said.

    The MPs, however, stated that they will not support the vote of censure being spearheaded by the minority caucus of the House because they do not agree with the reasons the National Democratic Congress (NDC) MPs cited.

    Source: Ghanaweb 

  • Speaker refers censure motion against Ofori-Atta to ad hoc committee

    Speaker Alban Bagbin has instituted an eight-member committee to look into the censure motion filed by the Minority in Parliament to facilitate
    the dismissal of Finance Minister, Ken Ofori-Atta.

    On Thursday, the Minority, led by Tamale South MP, Haruna Iddrisu, moved a censure motion against Mr Ofori-Atta despite calls by the Majority to have the Minister present to defend himself.

    Following a heated debate, Speaker Bagbin decided on establishing an ad hoc committee spearheaded by two co-chairmen, MP for Bolga East, Dominic Ayine and Adansi-Asokwa legislator, Kobina Tahir Hammond, to look into the matter.

    The Speaker came to the decision in accordance with Order 106 of the Standing Order, which states, “The House may pass a resolution to remove the President, the Vice President, Mr. Speaker, and Deputy Speakers, and a vote of censure on a Minister of State.”

    “The House may consider such motion and come to a decision or refer it to a committee on a motion made by any member,” it continues.

    In his submission, Speaker Bagbin directed the committee to report to the House in the next seven days.

    Other members of the committee include North Tongu MP, Samuel Okudzeto Ablakwa, Klottey-Korle, the Dr. Zanetor Agyeman-Rawlings,
    and Okaikoi North MP, Emmanuel Ahiaku, from the Minority side.

    Representatives from the majority side are Okaikwei Central MP, Yaw Boamah, Asante-Akim Central legislator, Kwame Anyimadu-
    Antwi, and Sekondi MP, Egyapa Mercer. The clerk to the committee is Mr Boamah Camilo, the Speaker added.

    On October 25, 2022, the Minority in Parliament filed a censure motion against the Finance Minister, Ken Ofori-Atta.

    This occurred at the same time that the majority MPs, numbering around 80, held a press conference to demand the removal of the
    Finance Minister and Minister of State in charge of Finance at the Ministry of Finance, Charles Adu Boahen, for their inability to manage the economy.

    However, the NPP MPs have failed to support the NDC MPs in their quest. The Majority explained that their justification for the Minister’s
    removal does not tally with that of the Minority’s.

    “Over a few days, we have had the Finance Minister speaking, and his Ghana to receive $50m for carbon emission
    reduction speaking has informed the Majority not only to state that we are back to the original position that we took and that original position is to say that the Minister of Finance will not be the one to read the budget and its appropriation.”

    “However, we are not going to support the cause of the NDC in the chamber this morning. The cause of the NDC is premised on falsehood,
    propaganda and reasons that are not justifiable. Their position might look like ours but it is not the same,” the Majority said.

    Meanwhile, President Akufo-Addo has asked that the Finance Minister be allowed to complete Ghana’s negotiations with the International Monetary Fund (IMF) and present the 2023 budget and economic statement.

     

     

     

  • Speaker refers censure motion against Akufo-Addo to ad hoc committee

    The Speaker of Parliament, Alban Bagbin, has referred a vote of censure motion filed by the minority cause of Parliament for the removal of Finance Minister, Ken Ofori-Atta, to an 8-member ad hoc committee.

    The committee is expected to make a determination on removal of Ofori-Atta within 7 days.

    The speaker announced that the committee will be chaired by Member of Parliament (MP) for Adansi Asokwa, Kobina Tahir (K.T.) Hammond and the MP for Bolgatanga Dominic Akuritinga Ayine.

    More Soon…

  • We won’t call you ‘honourable’ again if you don’t vote against Ofori-Atta today – Sam George to NPP MPs

    The Ningo-Prampram MP says the Minority Caucus will not accord the honourable title to his colleagues on the Majority side should they fail to vote against the Finance Minister in a censure vote today.

    Samuel Nartey George said any contrary action by the NPP MPs will mean they lack honour and thus do not deserve to be treated as such.

    Speaking on Metro TV on Thursday, the NDC MP said they will refer to the NPP MPs by their regular names and not honourable.

    He thus urged them to earn the title honourable today.

    “Today, it is a matter of honour. It is a matter of the title we so fight for. So they (NPP MPs) must earn their title today.

    “This is a call to the 137 on the Majority side. Earn your title. Else we will not call you honourable members of the rest of the term.

    “We will refer to you by your regular names because you are going to show Ghanaians that you lack honour,” he threatened.

    Mr Nartey George added the motion by his caucus has no partisan motive.

    According to him, it represents the general demands of the majority of Ghanaians.

    “Ghana is at the crossroads today. Today Parliament has the opportunity to distinguish itself and ensure that we are masters of our own craft and ensure that we care about the people we represent.

    The motion of censure that stands in the name of the Minority leader is not a motion that is to seek a partisan or political or parochial interest. It is simply in response to the calls by Ghanaians,” he added.

    The Minority Caucus’s censure motion against the embattled Finance Minister, Ken Ofori-Atta is expected to be moved today.

    The motion which was filed on October 25, per the constitution is to be debated upon and voted on the same after 14 days of its receipt by the Speaker of Parliament.

    Today, Thursday, November 10, is the fourteenth day, after the motion was received by the Speaker.

    The grounds for the Minority’s motion include mismanagement of the economy, alleged withdrawals from the Consolidated Fund, and illegal payment of oil revenues into offshore accounts among other reasons.

    Ahead of that, the New Patriotic Party has ordered its Members of Parliament (MPs) to abstain from the vote of censure against the embattled Finance Minister.

    The party has thus asked the chief whips of the Caucus to ensure the order is complied with.

    In a press release issued on Wednesday, November 9, and signed by the General Secretary of the party, Mr. Justin Kodua Frimpong, he said the decision was taken after wider consultation with major stakeholders.

    “The leadership of the New Patriotic Party, following a broader consultation and engagements with stakeholders has resolved and hereby directs all members of the Majority Caucus in Parliament to abstain from a scheduled vote of censure being sought by the Minority Caucus against Mr Ken Ofori-Atta, Minister for Finance.

    Meanwhile, the Minority Chief Whip, Muntaka Mubarak, has warned that members of the Majority Caucus who had rebelled against the Finance Minister may face dire consequences should the vote of censure fail.

    According to him, in the event the vote of censure fails, the 80 Majority Caucus members would be at the mercy of their party officials and this will not bode well for them.

    Already, all NDC MPs have been instructed not to miss today’s sitting in order to get the required number to carry out their objective.

    The Deputy Minority Whip, Ahmed Ibrahim has warned that there will be consequences should any member fail to show up.

    Source: Myjoyonline

  • Unlike NDC, Ofori-Atta has something to show for all monies he has borrowed – Nana Ofori-Atta

    Board Chairman of the National Theatre, Nana Fredua Agyeman Ofori-Atta, has refuted suggestions that the Nana Addo Dankwa Akufo-Addo government has nothing to show for all the monies it has borrowed.

    Speaking in an interview on GHOne TV, which was monitored by GhanaWeb, Agyeman Ofori-Atta said that unlike the era of John Dramani Mahama, all the monies Finance Minister Ken Ofori-Atta borrowed have been used for projects that are visible to every Ghanaian.

    He added that it is true that Ofori-Atta has borrowed a lot, but all the monies he borrowed were put into strategic sectors of the economy that will help propel the development of Ghana.

    “The difference between the NDC government’s borrowing and the NPP government’s borrowing is in the purpose. The monies they (the NDC) borrowed, where did it go? How many things do we remember they used the money for?

    He added that for the Akufo-Addo government the monies borrowed have been invested in “agriculture, health, education, industry, transport, the list goes on. You can see it. Let them list theirs, and let’s see.”

    “So, that is the point; the point is the money has been borrowed, these are matters of fact, you can twist it. (The problem) is what it (the borrowed funds) has been spent on. Are we going to see the benefit?” he queried.

    He added that the Akufo-Addo government had invested so much in railway infrastructure, which is critical in expanding Ghana’s economy.

     

  • Ofori-Atta can’t restore the economy; get a new hand – Lord Mensah

    Economist, Professor Lord Mensah, has said the Minister of Finance, Ken Ofori-Atta must resign for a new person to take over the management of the economy.

    According to him, the Finance Minister is trying to dissociate the economic dynamics from its management adding that what Mr. Ofori-Atta is doing is not real and it doesn’t happen anywhere.

    The Economist explained that economic management goes with economic dynamics.

    “Obviously it has to do with management so if the entire population is calling for his head. It sends the signal that what is on the grounds is not good. So for him to say that we should focus on the IMF and possibly restore the economy it’s uncalled for.

    “For me his understanding of the management and influence of economic dynamics, he should understand that the economy is not on autopilot, the economy must be managed. If at the end of the day those that are supposed to feel the impact of the economy are saying that things are not going well with them that he should resign, he has to. He is not the one to come and explain and tell us that we have to focus on how we can restore the economy,” Prof. Mensah told Starr News.

    He further stated that a new hand can give Ghanaians breathing space.

    “I think his resignation will bring about some confidence to the economy and as a result of that maybe the economy will head in the right direction. Trust me you cannot dissociate human thinking when it comes to economic dynamics from the real numbers that are on the ground. We are waiting for him to resign so that we can have breathing space. As we speak now his presence as a Finance Minister has brought about a whole lot of uncertainty in the economy.

    “People cannot even plan, investors cannot even look ahead and look at the next moment. As we speak now there are so many things going on at the back side of the economy that we don’t even know.”

     

  • I have been through pains and aches, we understand what we are doing – Ofori-Atta

    Embattled Finance Minister, Ken Ofori-Atta, has spoken about how invested he has been in the management of Ghana’s economy citing the exertions that he has been going through.

    In an interview posted on Joy FM’s social media handles, the Minister is heard stressing that the managers of the economy understood the task at hand.

    He stressed that they were dealing with incessant challenges and taking cognizance of the available resources.

    “Just to assure you that you have a finance minister who has gone through all the pains and aches and nobody can really come and say we don’t understand what we are doing.

    “The question is what resources do we have and how we are going to deploy them in the nation that we have in very difficult circumstances but being very confident that the nation is purposed for greatness and we are blessed to have the opportunity to lead where we are going,” Ofori-Atta added.

    “Let me assure you all that your best bet is still Ghana,” he told the gathering believed to be a group of investors but the time of the meeting is, however, unknown.

    Calls for Ofori-Atta, Adu Boahen to be axed

    A group of NPP MPs, numbering over 80, on October 25 held a press conference demanding the removal of the Finance Minister and Minister of State at the Ministry, Charles Adu Biahen, over management of the economy and hard times that citizens were facing.

    President Akufo-Addo intervened and got a concession on two grounds, that the Ofori-Atta be allowed to conclude initial talks with the International Monetary Fund and present the 2022 budget and see to the passage of its appropriation.

    The president has also addressed the nation on the economic challenges and how the government intends to tackle them.

    The Majority Leader, Osei Kyei-Mensah-Bonsu, has recently stated that the view advanced by the Ken Must Go MPs is now the Majority position.

    Meanwhile, the Minority Caucus is pushing a vote of censure t remove Ofori Atta from office.

    Source: Ghanaweb

     

  • Govt unlikely to present 2023 Budget due to IMF talks – Majority leader

    Majority leader in Parliament, Osei Kyei-Mensah-Bonsu has hinted at a postponement of the 2023 Budget Statement and the Economic Policy reading scheduled to take place on November 15, 2022.

    According to the Majority leader, a new date may have to be set as the government is yet to conclude its negotiations with the International Monetary Fund (IMF).

    Speaking to the media, the Suame Member of Parliament noted that a delegation from the Fund is expected in the country in the next few weeks to continue its negotiations.

    “But if you want to do tidy work, you may be required to have some space to be able to do a tidy job. Because as you all know, these are not normal times. Nothing should be done which will eventually become wishy-washy. They want to have the best to be able to uplift us from where we are as a country. And that being the case, if we want to do a thorough job, I think there will be too much pressure if it has to be done on the 15th,” he said on Thursday, November 3, 2022.

    “We want more time to interrogate the principles underpinning the budget,” Mr Osei-Kyei-Mensah added.

    He posited that this action will not be in breach of the procedure since the constitution provides November 30 as the deadline for the presentation of the budget statement.

    However, Section 21(3), of the Public Financial Management Act, 2016, ACT 971, states that “the Minister shall, on behalf of the President, lay before Parliament not later than the 15th of November of each financial year, estimates of the revenues and expenditure of the Government, the annual budget, for the ensuing financial year.”

    Meanwhile, Mr Kyei-Mensah-Bonsu, who doubles as the Minister for Parliamentary Affairs, will engage Finance Minister, Ken Ofori-Atta on the possible new date and revert with a communique on whatever conclusion is reached.

    Budget thrown out of gear

    President Akufo-Addo admitted on Sunday night that the 2022 budget has already been thrown out of gear.

    While addressing the nation on the state of the economy, the President said he is aware of the increase in the cost of living in the country and the economic difficulties facing Ghanaians.

    According to him, the economic woes have rendered the country’s 2022 budget useless.

    “For us, in Ghana, our reality is that our economy is in great difficulty. The budget drawn for the 2022 fiscal year has been thrown out of gear, disrupting our balance of payments and debt sustainability, and further exposing the structural weaknesses of our economy.

    “We are in a crisis, I do not exaggerate when I say so. I cannot find an example in history when so many malevolent forces have come together at the same time,” the President said.

  • LIVESTREAMING: Akufo-Addo addresses Ghanaians on state of the economy

    President Akufo-Addo is formally addressing the Ghanaian citizenry on the true state of the economy, which is reported to be in tatters.

    He is expected to further elaborate the current challenges, causative agents and what is being done to resolve the challenges.

    Ghanaians have been hit with increased prices in fuel products and transport fares as the cedi finds its feet among world trading currencies.

    Due to the many issues, some Ghanaians have called for the sacking of Finance Minister, Ken Ofori-Atta, who is mandated to oversee to the smooth running of the economy. President Akufo-Addo is however yet to give into the demands.

    It is expected that he will provide further justification as to why Mr Ofori-Atta remains at post.

     

  • Minority’s attempts to remove Finance Minister won’t materialize – NPP

    The New Patriotic Party (NPP) believes moves by the Minority in Parliament to have Finance Minister, Ken Ofori-Atta removed from office is an exercise in futility.

    It says, the Majority caucus will also not support the motion of censure against the Minister as filed by the Minority.

    A Deputy Director of Communications of the NPP, Kamal Deen Abdulai described attempts for the impeachment of the Finance Minister as ‘much ado about nothing’.

    “The Speaker admitting that motion is very predictable and it doesn’t mean that the conditions for admitting such a motion to be full will be met.”

    “I am confident this motion for a vote of censure against Finance Minister is much ado about nothing. I can say emphatically that, the Minority will not have the support of the Majority to pass a vote of censure for the Finance Minister to be removed”, he said on Citi FM/Citi TV‘s The Big Issue.

    Commenting on the Majority caucus back track over its demands for the Finance Minister’s dismissal, after meeting President Akufo-Addo, Kamal Deen Abdulai said there is nothing wrong with the NPP legislators softening their stance.

    “It’s trite knowledge, some Majority MPs called for the head of the Finance Minister. Also, after engagements they have changed their stance that some time be given the Minister agreeing that they are not going to pursue this matter once the President has spoken to them and the unification we are seeking has been seen.”

    About 80 New Patriotic Party (NPP) MPs this week demanded the sacking of Finance Minister, Ken Ofori Atta over the current economic hardships.

    They threatened to boycott government business in parliament should the president fail to fulfill their demands.

    The group however accepted President Akufo-Addo’s request asking them to allow the Finance Minister some time to finish negotiations with the International Monetary Fund (IMF).

    The majority caucus in Parliament called for the dismissal of Mr. Ofori-Atta, and the Minister of State at the Finance Ministry, Charles Adu Boahen.

    Their colleagues on the other side – that’s the Minority have also filed for a motion of censure against the Finance Minister.

    On the same program, Tamale Central Member of Parliament (MP), Murtala Mohammed revealed his plans of commencing processes to impeach the President Akufo-Addo.

    “If we think that, it is justified to call for the removal of the Finance Minister, let us not be hypocrites. It is equally justified to call for the removal of the President. I am assuring that, I have started talking to some of my friends to ensure that that we initiate a motion to ensure that the President is impeached. I have started [the process]”, the legislator said.

    Source: Citinews

  • GH¢1.3 billion of Ghana’s oil revenues missing – Ablakwa cites A-G’s report

    Samuel Okudzeto Ablakwa, a member of parliament for North Tongu, has drawn attention to unreported oil money from the 2021 Auditor-report. General’s

    Ablakwa used Page 10 of the report when he said that GH1.3 billion in revenue could not be accounted for.

    In a post on social media dated October 29, 2022, he stated, “The Auditor-General claims he cannot vouch for the “accuracy and completeness of income numbers” under Ken Ofori-Atta’s.

    His post continued: “Page 10 of the AG’s 2021 audit report on General Government reveals that whereas Ken’s ministry insists that our 2021 oil revenue (ABFA) was GH¢2,061,122,607.00, the Controller and Accountant-General reports GH¢3,368,095,788 in its statement of financial performance. That represents a staggering discrepancy of some GHS1.3billion.

    “Ken Ofori-Atta should definitely go and quickly he must; however, when he’s gone, we will need a major forensic probe into his entire tenure,” the Ranking Member on Parliament’s Foreign Affairs Committee stressed.

    The Finance Minister has come under sustained pressure to be relieved of his post with two significant issues raised against him internally and from without.

    A group of 80 MPs held a press conference demanding Ofori-Atta’s removal as Minister citing the economic downturn the country is grappling with.

    The president has since exacted a deal with the Majority Caucus in Parliament to stand down the request and allow Ofori-Atta time to undertake two crucial tasks before a decision on him leaving is taken.

    On the same day, October 25, the Minority Caucus filed a vote of censure motion against the embattled Finance Minister seeking to remove him through relevant Parliamentary processes.

  • Government will conclude IMF negotiations and incorporate deal in 2023 Budget – Habib Iddrisu

    Second Deputy Majority Chief Whip, Habib Iddrisu says government will complete negotiations with the International Monetary Fund (IMF) before the 2023 Budget will be presented to Parliament.

    The Tolon MP is convinced that government will secure a bailout for the country before November 15.

    Speaking on Newsfile, Saturday, he said due to the confidence and trust imposed by the IMF in Akufo-Addo’s government, negotiations have been at a fast pace to secure a programme for the country.

    “The IMF has trust and confidence in this government and the President for that matter…At the end of the day, the 2023 Budget will be presented and I am very convinced from where I sit that the negotiations with IMF will be concluded by then and will be incorporated in the budget.

    “I am convinced that by the 15th of November the budget that will be presented in Parliament will have incorporated in it the IMF programme,” he said.

    This, he said would happen because of the “credible people at the Finance Ministry”.

    Meanwhile, the lawmaker has debunked claims that the government provided inaccurate macroeconomic figures to the International Monetary Fund (IMF).

    The Tolon MP argued that the IMF with such credibility and credentials could not have accepted just any macroeconomic figures from the Finance Ministry.

    Habib Iddrisu was reacting to allegations on Newsfile by Former Deputy Finance Minister, Mona Quartey that the Economic Management provided incorrect macro-economic numbers to the IMF.

    “We need to respect the institution IMF, especially since due diligence is done by them. They are a credible organization, they will not just sit down and say that the government of Ghana is giving them wrong information and they just take information like that.

    “It is never true that government has provided them with wrong information,” he said on Newsfile, Saturday.

    Source: MyJoyOnline

     

  • We are jokers to think Ofori-Atta’s sack will curb Cedi depreciation – Nhyiaeso MP

    The removal of Ken Ofori-Atta as finance minister, according to Stephen Amoah, a member of parliament for Nhyiaeso, may not stop the local currency’s free fall against important trading currencies like the US dollar.

    In an interview with Accra-based Metro TV, he claimed that anyone who believe that the Cedi will appreciate as a result of the ouster of Ofori-Atta are “jokers.”

    The legislator claimed that because the nation’s economy was heavily dependent on imports, it had not been robust for more than 40 years.

    Stephen Amoah was responding to a question premised on calls for Ofori-Atta’s sack and Speaker Alban Bagbin’s comment that the Cedi was appreciating against the dollar as a result of motion filed by the Minority side of Parliament for a vote of censure against Ofori-Atta.

    “So right now, if we sack the finance minister, dollar will come to GH₵5? We are jokers as a country. When you come to finance and economics, there is nothing like may be. It’s lazy man’s approach.

    “We need to accept the fact that our economy hasn’t been strong for over 40 years. We run something we call negative effective tax rate country. Monies from government to the households and monies that government gets from households…the monies going to households are always higher than what we get as revenue,” the MP said.

    President Akufo-Addo has in recent times come under pressure to reshuffle or sack some of his ministers particularly Ken Ofori-Atta over worsening economic conditions under his watch.

    However, the president has rejected reshuffle calls insisting that his ministers are performing well.

    On October 25, some NPP MPs organized a press confidence to demand the dismissal of Ofori-Atta and the Minister of State at the Ministry of Finance, Charles Adu-Boahen.

    The group said failure by President Akufo-Addo to heed to their call will mean they will not pursue government business in Parliament.

    Following this, the president held meetings with the MPs where it is reported that he has appealed to them to allow Ken Ofori-Atta in particular complete the IMF negotiations and also present the 2023 Budget and see to its appropriation.

    The Majority Caucus in a statement confirmed that the demands of the MPs will be ‘acted upon’ after the conclusion of IMF negotiations and the presentation of the Budget Statement and Economic Policy in November 2022, and the subsequent passage of the Appropriation Bill.

  • IMF has discovered lies in data from Economic Management Team – Mona Quartey alleges

    Former Deputy Finance Minister, Mona Quartey, has alleged that officials of the International Monetary Fund (IMF), have discovered some inaccuracies in the macro-economic figures presented by government’s economic management team.

    According to her, this revelation raises credibility issues which can potentially affect the outcome of Ghana’s ongoing engagements with the IMF.

    Contributing to discussions on JoyNews’ Newsfile on Saturday, the former NDC appointee, expressed her displeasure about the conduct of the economic management team.

    “There has to be a change of the economic management team. This team is no longer credible. This is a team that has lied, not only to the people of Ghana outside your party, but they’ve also lied to you [Akufo-Addo]. And the IMF has found them out. The numbers they gave; the macro-economic numbers they gave were not correct”, she said.

    Noting her reservations, the finance expert wondered why the President has refused to sack the members of the economic management team, whom she stressed, have failed in the discharge of their responsibilities.

    She added that the Finance Minister, Ken Ofori-Atta, has no business being at post, after supervising the present economic decline.

    The comments by Mona Quartey come at a time when scores of Ghanaians are making passionate appeals for the Finance Minister to be sacked.

    According to his critics, Mr Ofori-Atta has failed woefully and therefore has no business being at the helm of affairs of leading Ghana’s engagements with the IMF.

    Earlier this week, this posture was articulated by some 80 MPS from the ruling government who petitioned the President for Ken Ofori-Atta to be sacked.

    Addressing a pres conference on Tuesday, the MPs threatened that they will not support any government business, if the President fails to listen to their demands.

    But in a quick turn of events, the MPs, after meeting the President backed down on their calls, aftter the President implored them to allow the Finance Minister to finish the ongoing negotiations with the IMF and presentation of the 2023 Budget Statement.

    Touching on this development, Mona Quartey said she is disappointed by the posture of the said MPs.

    Meanwhile, Speaker of Parliament, Alban Bagbin, has admitted a motion of censure filed by Minority Members of Parliament to remove embattled Finance Minister, Ken Ofori-Atta.

    On Tuesday, the Minority filed a motion to that effect following the Majority MP’s demands to have the Finance Minister and the Minister of State in charge of Finance at the Ministry of Finance, Charles Adu Boahen dismissed.

    According to them, Mr. Ofori-Atta is incompetent and is to blame for the current economic woes of Ghanaians.

    Speaking to JoyNews, Minority Leader Haruna Iddrisu said they are hopeful by 10th November, they can conclude processes to remove the Finance Minister.

    Source: MyJoyOnline

  • Ofori-Atta still Finance Minister because Akufo-Addo wants it – Law Lecturer

    Law Lecturer at the University of Ghana, Clara Beeri Kasser-Tee has criticised President Akufo-Addo for failing to sack Finance Minister, Ken Ofori-Atta.

    Speaking on JoyNews’ Newsfile on Saturday, Clara Beeri Kasser-Tee wondered what President Akufo-Addo’s economic goals are, considering the current economic crisis and his refusal to sack Ken Ofori-Atta.

    According to her, the reason why President Akufo-Addo has not yielded to calls for him to dismiss the Finance Minister could be that he is not alarmed by the current state of the economy.

    “President should have considered whether considering the current economic situation, that is what he expected, because I would expect that he appointed the Finance Minister to help him achieve a certain goal for the economy.

    “In the economic circumstances that we are, is that the goal for which he brought the Finance Minister on board?” she asked.

    She said if the President has not dismissed Ken Ofori-Atta, the justification could be that Akufo-Addo is not perturbed about the current economic crisis.

    “If we are going to be quite objective, if the Finance Minister is not doing what the President wants him to do, the President has the power to fire him, if the President has not done that it is a reasonable conclusion to draw that this is what the President wants him to do,” the Law Lecturer stated.

    On Tuesday, October 25, 80 out of the 137 Majority MPs demanded the sacking of the Minister of Finance, Ken Ofori-Atta, and the Minister of State at the Finance Ministry, Charles Adu-Boahen citing their poor management of the country’s fiscal space.

    The MPs at a press conference held at Parliament blamed the duo for the delay in the ongoing International Monetary Fund programme negotiations that is expected to give the country a bailout.

    “We are by this medium communicating our strong desire that the President changes the Minister of Finance and the Minister of State at the Finance Ministry without further delay to restore hope to the financial sector and reverse the downward trend in the growth of the economy.”

    The group, led by the MP for Asante Akim North, Andy Appiah-Kubi, said the failure of government to heed to their demands will result in their boycotting of all government business.

    “Meanwhile, we want to serve notice, and notice is hereby served 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 by any other minister.

    “We hope that those of us [at] the backbench and members of the Majority Caucus will abide by this prayer. We are saying that if our request is not responded to positively, we will not be present for the budget hearing, neither will we participate in the debate.”

    Their move was applauded by the general public and other groups who have in the past called for similar action to be taken.

    This drew the attention of the President and summoned the NPP MPs for a meeting on the substantive matter.

    After the meeting with President Akufo-Addo, the MPs in a U-turn later acceded to the President’s appeal to allow Ken Ofori-Atta and Charles Adu-Boahen stay in office till after the IMF deal is sorted out and the 2023 Budget is presented to Parliament.

    In a statement released by the Majority Leader, Osei Kyei-Mensah-Bonsu, he said, the Minister of Finance and the Minister of State at the Finance Ministry will stay “until the conclusion of the round of negotiations with the International Monetary Fund (IMF) and the presentation of the Budget Statement and Economic Policy in November, 2022 and the subsequent passage of the Appropriation Bill after which time the demand will be acted upon.”

    Source: MyJoyOnline

  • We weren’t bribed to suspend ‘Ofori-Atta must go’ demand – Appiah-Kubi

    New Patriotic Party’s (NPP) Member of Parliament for Asante Akim Central Constituency, Andy Appiah-Kubi, has dismissed reports that he and other MPs were bribed to step down calls for Finance Minister, Ken Ofori-Atta to be sacked by President Akufo-Addo.

    Appiah-Kubi led a group of about 80 MPs earlier this week demanding the immediate removal of Ofori-Atta and Charles Adu Boahen, the Minister of State at the Finance Ministry.

    The MPs cited the struggling economy as the basis for their call threatening to boycott government business in the House if their call is not heeded to.

    After a meeting at the Presidency on Tuesday, it emerged that an agreement had been reached between the Majority Caucus and the President to have Ofori-Atta conclude the latest round of talks with the International Monetary Fund and to also present and see to the appropriation of the 2023 budget before ‘leaving.’

    That deal has seen members of the public thrash the MPs for having allowed themselves to be induced financially to back down on their call.

    This, Appiah Kubi stresses is incorrect.

    In an interview with Accra-based Joy News, he said: “I want one person, anybody associated with any such person who thinks that he can give money … If I hear anybody making an allegation, I will come out with information.

    “I will come out with information that we are beyond the bribes, our motivation is not the financial inducement, we don’t have money in our pockets but at least we have conscience. We will not reduce ourselves to that situation,” he added.

    He revealed that they had previously been approached with financial inducement but that they had repelled all such maneuvers.

    “Anybody who wants to attempt, be advised. We have sent this message to some people, they have sat upright. We have sound enough warning to people who want to influence members of our coalition with materialism, it won’t happen.”

    In a separate interview, the MP said he expected Ofori-Atta to be removed as Minister latest by December 31, 2022; by which time the budget appropriation would have been completed all things being equal.

    Source: Ghanaweb

  • 3 reasons Mahama can’t call for Ofori-Atta’s dismissal – Ken Agyapong lists

    Member of Parliament for Assin Central, Kennedy Agyapong, has criticised former President John Dramani Mahama over his call for the dismissal of Ken Ofori-Atta, Minister of Finance.

    According to him, Mahama should lack the impetus to make such a call stressing that he was not being fair to the minister.

    In an interview with Accra-based Citi TV, the MP in explaining his point indicated that Mahama has once been president and during his tenure, the country was plunged into darkness in what became known as ‘dumsor’.

    He stated that under the tenure of the former President, the country initiated moves to seek a bailout from the International Monetary Fund in 2015.

    He contended that John Mahama refused to sack his finance minister at the time, Seth Terkper.

    “President Mahama is not being fair to the finance minister. If you request that, I will agree because you have not been in that vehicle before. President Mahama was in the vehicle when the was so-called ‘dumsor’.

    “President Mahama was in the vehicle when he took us to IMF with his finance minister. Did he ever fire any finance minister? This is the question I ask. Ghanaians can ask for that and I agree with them hundred per cent. Elsewhere maybe the finance minister would have resigned himself. Well, it is up to him [to decide to honourably resign]. That I don’t have a problem with.

    “But the very person who is asking for this has been the before and he did nothing. The depreciation of the Cedi is my problem. That is the only challenge we have now that we need to address. But in 2014…have we forgotten? We went through the same under president Mahama. What did he do? The only solution is to take us to IMF,” Ken Agyapong said.

    Former President John Mahama while delivering a lecture titled ‘Building The Ghana We Want’, said it was untenable for Ken Ofori-Atta to remain at post with the claim that he should be allowed to conclude ongoing negotiations with IMF as well as read the budget statement scheduled for November.

    He was reacting to the latest move of some NPP MPs who organized a press conference on October 25 to demand the sack of the Finance Minister, Ken Ofori-Atta together with Charles Adu Boahene, Minister of State at the Ministry of Finance, failure which they will not pursue government business in Parliament.

    Following this, the president has held meetings with the MPs where it is reported that he has appealed to them to allow Ken Ofori-Atta in particular complete the IMF negotiations.

    The Majority Caucus in a statement confirmed that the demands of the MPs will be ‘acted upon’ after the conclusion of IMF negotiations and the presentation of the Budget Statement and Economic Policy in November 2022, and the subsequent passage of the Appropriation Bill.

    But commenting on the matter, Mahama could not comprehend how Ofori-Atta’s absence will affect the IMF negotiations as well as budget preparation.

    “I only got to know of a press statement by the Majority of a so-called compromise that the Minister will leave after he has completed the budget and the IMF negotiations…budget preparations and IMF negotiations are the results of teamwork, they are not the work of one individual. I fail to see how the absence of the Minister will affect the preparations of the budget and the negotiations with the IMF,” John Mahama explained.

    Source: Ghanaweb

  • Akufo-Addo to finally address Ghanaians on economic crisis this Sunday

    President Akufo-Addo will on Sunday, October 30, 2022, at 8PM speak to Ghanaians over the current economic hardships facing the country.

    Since Ghana’s economy turned sour, President Akufo-Addo has not officially addressed the nation.

    This left many, particularly members of the opposition party, National Democratic Congress (NDC) peeved, as they argued that the President must assume his mandate and provide hope to Ghanaians.

    Pressure group OccupyGhana urged the President to update the citizenry on the state of the economy and the general affairs of the country, as he did during the initial stages of the COVID-19 pandemic.

    “No one expects the President to physically halt the fall of the cedi or conjure inflation away. However, it is imperative in such times that Ghanaians get the reassurance that their elected leader is doing all he can and that he cares. The cedi is ‘burning’. The Ghanaian economy is in tatters. It is a disaster. Yet we do not see commanding leadership in this matter,” the group said.

    President Akufo-Addo is expected to speak on the calls for the dismissal of Finance Minister Ken Ofori-Atta as well as the country’s engagement with the International Monetary Fund.

    Under Mr Ofori-Atta’s watch, the country battles a high inflation rate of 37.2% as of September and a depreciation of the cedi.

    A dollar is currently trading at about GH14. Also, fuel prices have escalated and transport fares have been revised three times just this year.

     

  • Why sack Ofori-Atta and leave ‘incompetent’ Akufo-Addo – Blakk Rasta booms

    Radio presenter Blakk Rasta has waded into recent calls for the sacking of Finance Minister Ken Ofori-Atta by a bloc of ruling party lawmakers.

    In his view, there was no point going after Ofori-Atta alone especially when the man who appointed him stresses his continuous belief in his competence.

    Speaking on the October 25, 2022 edition of his show on Accra-based 3FM, the ardent government critic said Ghanaians had allowed Akufo-Addo too much leverage to be toying with governance.

    “This is a very democratic country that has sat back to look at this president play with this country. I am most excited that this president has proven to the whole world that he is most incompetent, he is too old to be president and his faculties stopped working several years back, the best he could have done to us was to retire.”

    He continued that whiles the group of 80 New Patriotic Party Members of Parliament want, “want the Finance Minister to leave, may I extend it to the president himself? Why do you sack a man who believes and still believes that the Finance Minister is the best?

    “Why do you sack the Finance Minister and leave the man who believes in him. To send Ofori-Atta home … and leave this sleeping president to continue sleeping and playing the Don Quixote,” he quizzed.

    The group said it will not do business with government nor support the 2023 Budget if the president fails to heed their call to remove Ofori-Atta and the Minister of State at the Finance Ministry, Charles Adu Boahen.

    According to them, the move follows previous concerns sent to the government that have not yielded any positive results.

    “We have had occasions to defend allegations of conflicts of interest, lack of confidence, and trust against the leadership of the Finance Ministry.

    “The recent development within the economy is of major concern to our caucus and our constituents. We have made our grave concern to our president through the parliamentary leadership and the leadership of the party without and positive response,” Andy Appiah Kubi said.

    The MPs believe the move will change the current economic situation in the country.

    “We are by this medium communicating our strong desire that the president changes the Minister of Finance and the Minister of State at the Finance Ministry without further delay in order to restore hope into the finance sector and reverse the downward trend in the growth of the economy,” he added.

    Source: Ghanaweb

  • ‘One of the best bankers in Ghana’: Watch how Akufo-Addo introduced Ofori-Atta in 2017

    It’s safe to argue that we live in the “internet doesn’t forget” era, in which a person’s words or opinions could be quickly uncovered in the case that they give context to ongoing dialogues.

    The two politicians who have received the greatest media attention in recent days are without a doubt Finance Minister Ken Ofori-Atta and Nana Addo Dankwa Akufo-Addo.

    Ofori-Atta due to a request from some of his party’s members, the New Patriotic Party due to their call for his dismissal, and Akufo-Addo due to his’refusal’ to comply with that request – at least right now.

    Akufo-Addo has serially stood by his under fire Finance Minister despite an economic downturn that has seen Ghana run to the International Monetary Fund for a programme.

    A video has popped up, of how Akufo-Addo, since Day 1, had spoken highly of his Finance Minister in early 2017 when he was introducing members of his cabinet to the public at the Jubilee House.

    A UTV video that has been in circulation on social media shows Akufo-Addo call on Ofori-Atta to join him on a stage as the then new President speaks about his appointee’s academic and professional pursuits as well as experience with the local and global economy.

    “He is arguably, one of the most successful bankers not in our country, an American-educated Colombia, Yale and the rest, worked in Wall Street as a youngman, Morgan Stanley and Solomon Brothers and when he returned here to Ghana …combined with his partners, co-found what has become what has become the most successful investment bank in our country, that is Databank,” Akufo-Addo said in his introduction.

    In arguing out why the choice of Ofori-Atta, he stated: “We want to get the Ghanaian economy fully back on track and developing so that we can create jobs and raise the living standards of our people.

    “We need an economist, we need somebody with finance, who has the range, who has the capacity and has the insight into how to move modern economies.

    “I believe that most people who are dealing in the capital markets of our country would acknowledge him as one of the most outstanding figures in it,” he stressed.

    Ofori-Atta was subsequently vetted and appointed, serving throughout the first term of Akufo-Addo, he was reappointed in 2021 to continue as Finance Minister, making him the longest-serving Finance Minister in the Fourth Republic.

    The group said it will not do business with government nor support the 2023 Budget if the president fails to heed their call to remove Ofori-Atta and the Minister of State at the Finance Ministry, Charles Adu Boahen.

    According to them, the move follows previous concerns sent to the government that have not yielded any positive results.

    “We have had occasions to defend allegations of conflicts of interest, lack of confidence, and trust against the leadership of the Finance Ministry.

    “The recent development within the economy is of major concern to our caucus and our constituents. We have made our grave concern to our president through the parliamentary leadership and the leadership of the party without and positive response,” Andy Appiah Kubi said.

    The MPs believe the move will change the current economic situation in the country.

    “We are by this medium communicating our strong desire that the president changes the Minister of Finance and the Minister of State at the Finance Ministry without further delay in order to restore hope to the finance sector and reverse the downward trend in the growth of the economy,” he added.

  • Ofori-Atta unfit for office because can’t supervise his own mess – Haruna Iddrisu explains

    The minority leader, Haruna Iddrisu, has backed members of the New Patriotic Party who are seeking for the resignation of the finance minister and minister of state of the finance ministry, respectively, Ken Ofori-Atta and Charles Adu Boahen.

    He asserts that the Finance Minister is unqualified to address Ghana’s current economic problems.

    On Tuesday, October 25, 2022, Haruna Iddrisu declared Ofori-Atta: “cannot manage or supervise his own mess, he is not fit for purpose” in submissions to Parliament.

    He, therefore, urged his colleagues on the other side of the House to join the Minority to ensure Ofori-Atta is removed.

    Some NPP MPs on Tuesday, October 25, 2022, organised a press conference to demand the dismissal of the Minister of Finance, Ken Ofori-Atta, and the Minister of State at the finance ministry, Charles Adu Boahen, in order to restore public confidence in the economy.

    Andy Kwame Appiah-Kubi, Spokesperson for the MPs who describe themselves as the ‘backbenchers’ said if the president fails to heed their call, they will also not do business with the government nor support the 2023 Budget.

    “We have had occasions to defend allegations of conflicts of interest, lack of confidence, and trust against the leadership of the Finance Ministry.

    “The recent development within the economy is of major concern to our caucus and our constituents. We have made our grave concern to our president through the parliamentary leadership and the leadership of the party without and positive response,” Andy Appiah Kubi said.

    But the Majority Leader further indicated on the floor of the House that no Minister in government is beyond the reach of censure and reproach if the prevailing conditions call for such measures.

    “Mr. Speaker, we are serving you notice that we will take every step that this Parliament has…to censure any Minister who is not living up to expectation, and we will lead the way with the Honorable Minister for Finance.”

    NPP MPs petition president to sack Ofori-Atta, Adu Boahen

    The majority caucus in parliament, at a press conference on Tuesday, have threatened they will not participate in any government business until Minister for Finance, Ken Ofori-Atta and Minister of State in charge of Finance at the Office of the President, Chares Adu Boahen are sacked by the president.

  • Allow Ofori-Atta to seal IMF deal – Akufo-Addo reportedly tells ‘breakaway’ NPP MPs

    In order to wrap up talks with the International Monetary Fund (IMF) before he leaves office, President Nana Addo Dankwa Akufo-Addo has pleaded with parliamentarians from the ruling party to remove Ken Ofori-Atta from his position as finance minister.

    He claims that by removing the minister from office, the economy’s confidence will be restored.

    This was stated by President Nana Addo Dankwa Akufo-Addo during a meeting with the irate MPs on Tuesday, October 25 at Jubilee House.

    The aggrieved MPs, according to some media reportage were unhappy about the President’s posture towards his cousin and were still insisting he must leave the finance ministry.

    “Nana Addo Dankwa Akufo-Addo has asked Ken Ofori-Atta to be given three more weeks to conclude the IMF negotiations,” Accra-based Citi FM reported.

    Some NPP MPs on Tuesday, October 25, 2022, organised a press conference to demand the dismissal of Ofori-Atta, and the Minister of State at the finance ministry, Charles Adu Boahen, in order to restore public confidence in the economy.

    Andy Kwame Appiah-Kubi, Spokesperson for the MPs who describe themselves as the backbenchers said if the president fails to heed their call, they will also not do business with the government nor support the 2023 Budget.

    “We have had occasions to defend allegations of conflicts of interest, lack of confidence, and trust against the leadership of the Finance Ministry.

    “The recent development within the economy is of major concern to our caucus and our constituents. We have made our grave concern to our president through the parliamentary leadership and the leadership of the party without and positive response,” Andy Appiah Kubi said.

    NPP MPs petition president to sack Ofori-Atta, Adu Boahen

    The majority caucus in parliament, at a press conference on Tuesday, have threatened they will not participate in any government business until Minister for Finance, Ken Ofori-Atta and Minister of State in charge of Finance at the Office of the President, Chares Adu Boahen are sacked by the president.

  • NPP MPs demand removal of Ken Ofori-Atta, Adu Boahen

    In order to restore public trust in the economy, the majority caucus in parliament has petitioned President Akufo Addo to dismiss Finance Minister Ken Ofori Atta and Minister of State at the finance ministry, Adu Boahen.

    On Tuesday, October 25, 2022, their spokesperson, Andy Kwame Appiah-Kubi, Member of Parliament for Asante-Akim North, made the announcement during a briefing for the media.

    They claim that the action is in response to earlier complaints that were made to the government but received no satisfactory responses.

    Andy Appiah Kubi stated, “We have had opportunity to defend against claims of conflicts of interest, lack of confidence, and trust.

    Soon, more…

  • Continuous depreciation of cedi getting unbearable – Prof. Lord Mensah

    Economist, Professor Lord Mensah says comments by the Finance Minister urging Ghanaians not to panic over the continuous depreciation of the cedi cannot be accepted.

    According to Bloomberg, the Ghana cedi is the worst-performing amongst 148 currencies in the world, having depreciated by nearly 52% this year.

    Finance Minister, Ken Ofori-Atta has said increased importations during Christmas are accounting for the rush for the dollar and assured that once a deal is concluded with the IMF, the slide in the value of the cedi will be halted.

    But in an interview, Professor Lord Mensah said, until Ghana moves away from import dependency, there will be constant pressure on the cedi, leading to astronomical depreciation in value as is happening currently.

    “We have a cause to worry because we do not produce much in Ghana. So, once everything on the shelf is imported with the dollar, the Minister cannot say we cannot worry about the dollar. We need to get worried about the dollar because we know getting to Christmas, the demand for the dollar is high adding to the depreciation of the dollar and the rate for this year alone is unbearable.”

    The Ghana cedi has lost close to 50 percent of its value since the beginning of the year.

    Currently, the cedi is selling at over GH¢13.00.

    Ghana’s inflation for September 2022 stands at 37.2 percent while Producer Price Inflation for the same month has risen to 45.5 percent.

    Despite these, government says Ghana’s economy is recording some marginal growth despite recent ravaging shocks.

    Source: Citinewsroom