IMF negotiation may delay 2023 budget – Majority Leader

Source The Ghana Report

Majority Leader Osei Kyei-Mensah-Bonsu has indicated that the presentation of the country’s 2023 budget may delay due to the ongoing negotiations with the International Monetary Fund(IMF).

The Budget Statement and the Economic Policy for 2023 has been scheduled to be read on November 15, 2022, as mandated by the Public Financial Management Act.

However, as negotiations between the Finance Minister and the Fund for a bailout are still ongoing, the date now appears doubtful, according to the Majority Leader.

Mr Kyei-Mensah-Bonsu speaking to journalists today, November 3, 2022, revealed that another IMF team will be arriving in two weeks to continue the negotiations.

He believes this will put a lot of pressure on the process if the House continues as scheduled.

“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.

“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,” he said.

This means it is highly unlikely that the budget will come by the stipulated time.

He stated this action will not be in breach of the procedure because the constitution provides November 30 as the deadline for the statement.

“We want more time to interrogate the principles underpinning the budget,” he stressed.

Meanwhile, he said he will consult the Finance Minister to discuss the next possible date and revert with a communique on the outcome.


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