Minority blocks $1b loan facility even with IMF talks

The Minority caucus in Parliament on Thursday, July 14, 2022, shot down a one-billion loan by over what they described as inconsistencies in the agreement by the government.

According to the Minority, the government must provide further details on the facility before any decision can be taken on the loan.

Speaking to EXPRESSNEWSGHANA after a Finance Committee meeting to consider the 750 and 250 million dollars agreements, Ranking Member, Cassiel Ato Forson pointed out some concerns of his side over the deal that have not been addressed.

However, the International Monetary Fund (IMF) team which was in Ghana for a data gathering mission advised parliament to as a matter of urgency approve the loans in order to avert the collapse of the economy.

But, the Ranking Member on Finance insists until the right things are done, his side will not approve the loan.

“We have considered the two loans but we have lingering concerns, and we have actually brought them out.

“Because, first of all, we believe that the documents before us have some fundamental defaults.

“What is in the Memorandum to Parliament and what is in the loan agreement has some differences, because in one breath we were called to approve a loan of 750 but what is in the agreement has two legs trench A and trench B” he disclosed.