The Majority in Parliament have supported claims by the Vice President that a whopping 7 billion cedis was not accounted for by the erstwhile John Mahama led National Democratic Congress.
They suspect, the details of the 7 billion cedis were hidden from the International Monetary Fund (IMF) as the country struggles to meet targets set under a three year programme entered into with the Fund.
In a press state issued Thursday, the Majority insist, the conduct of the past government has dire implications for the country's budget deficit for 2016.
The statement follows a claim by the Vice President Dr Mahamudu Bawumia earlier this week that an amount of 7 billion cedis could not be accounted for in the documents handed to the NPP government during the period of transition.
The Vice president said details of the amount were only uncovered as the NPP began compiling data for the 2017 budget statement.
According to him, the 7 billion cedis arrears covered a period of 2014-2016, the period when negotiations of the current Extended Credit Facility Program with the IMF began.
But the Minority NDC dismissed the claim by the Vice President. At a press conference a former Deputy
Finance Minister, Ato Forson accused the vice president of playing petty politics with the matter.
He stated that the details of the ?7 billion expenditures were captured under a new financial management system called the Ghana Integrated Financial Management Information Systems (GIFMIX) which the current government does not understand.
"We in the Minority are displeased with the tendencies of Dr Bawumia to rushing to the population and media with the information particularly the structural measures and reforms without taking the time to understand the rationale for its implementation.
"The government is obliged to incorporate the commitment as a first charge to ministries departments and agencies budget for 2017," he stated.
But the Majority in Parliament insists the figures about ?7 billion were hidden not only from Ghanaians but from the IMF.
Chairman of the Finance Committee of Parliament Dr Mark Assibey Yeboah told Joy News' Joseph Opoku Gakpo the previous government failed to disclose details of the ?7 billion in order for them to meet the IMF targets and to benefit from the over $900 million the fund had promised to pay.
If they had disclosed the details of the arrears, Ghana would not have met the target for the budget deficit and would not have benefitted from the payment, he hinted.
He said without the ?7 billion the country's budget deficit stood at 9.5 percent of GDP but when its added it shoots the deficit up to over 11.5 percent.
He was sure the failure by the previous government to be transparent and to disclose the accurate figures to the IMF will attract sanctions.
Source: Myjoyonline.com
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Politicians are liars. There is no money, but they have money to celebrate 60th independence anniversary. Can you imagine this. Such monies could start the foundation of a small scale factory in my district immediately. About 8 children died in asikuma because a school block came down on them, yet government is ready to celebrate 60th anniversary. What is the difference between the two parties. They are all wasters.
Good point there. If the money is lost, arrest the robberrs, prosecute them and get the money back, instead of dancing around with allegations. You've in power for about a month, let's see some seriousness rather than this same politcal campaign rhetorics. Ndc is already booked out, you are given the power so forget about ndc and prove your competence. Ghanaians are tired of this nun sense political press conferences. You said your pay allowance, reduce taxes, reduce petroleum cost and give employment. One district one factory and so on, this is what people are looking forward to and not propaganda.
Nana addo told Ghanaians that Ghana is very rich, so granted the government embezzled this fund, send the actors to court and retrieve the money, and stop deceiving the public. When you were coming you said you are competent to manage the economy, power is now in your hand, so the earlier the blame game stops the better. I am convinced that npp know they cannot redeem all the promises they made, so they want to blame the past government for their impending failure. Ghanaians are now smarter than ever and would not tolerate these lies any longer. If it's broken fix it.
I'm glad I booted this crook corrupt incompetent NDC gov't out.More revelations are coming,we'll prosecute and jail all those who created,looted and shared.
This is just a of the iceberg.There are more financial things that they hid. NPP should look sharp and tell the public or else they wont be able to finish even one project in their manifesto.
This is 2001 revisited. The NDC did a similar thing in 2000 and the Kuffour government had to pay penalty of some $50 million. People must be sanctioned so this thing doesn't happen again.
THIS IS PURE ECONOMIC DISHONESTY. THE GOVERNMENT AT THE TIME JUST NEEDED THE 900 MILLION BADLY, AND DECIDED TO HIDE 7 BILLION, SO AS TO PRESENT A COSMETIC ECONOMY TO LURE IMF. THAT ACTION ONLY MAKES SENSE WHEN YOU NEED THE MONEY BY HOOK OR CROOCK. THE PROBLEM IS THAT, WHEN YOU DO SUCH MATHEMATICS, IT CREATES A BIG HOLE IN THERE. NOW THAT YOUR GOVERNMENT IS NOT IN POWER, DEFINITELY, SUCCEEDING GOVERNMENT WILL SEE IT AS A BIG GUTTER AND ASK QUESTIONS. THIS IS WHY BAWUMIA IS TALKING ABOUT INACCURATE FINANCIAL DATA.
"Finance Minister, Ato Forson accused the vice president of playing petty politics with the matter"...myjoyonline.com,are you guys serious right now???is Ato Forson the Finance Minister??
It is part of the missing money that funded Kofi Adams cars. And not just his!
This is what happens when you let a bunch of up to no gooood c ro ooks run Country.