Seth Terkper: Former minister calls for answers on sources of funds for Free SHS
- Seth Terkper, the former minister of finance, has argued that the government needs to provide answers on the funding for the Free SHS programme
- He explained that the government needs to clearly state if it will continue to borrow to fund it
- Terkper added that the government needs to reconcile the differences in its fiscal data with that of the IMF
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The former Minister of Finance, Seth Terkper, has called for answers on the sources of funding for the Free Senior High School (FSHS) programme.
As Ken Ofori-Atta, the current minister, gets set to present the mid-year budget review, Terkper believes the government needs to come clean on how the programme is being sustained.
In his opinion, it is important for the government to confirm if it will continue to borrow in order to fund the programme.
READ ALSO: Mid-year budget review will not fix the economy overnight - Economist
A report by Ghana Web shows he also wondered why the government resorted to borrowing after falling on oil revenue to kickstart the programme.
To him, it is also important that Ofori-Atta reconciles Ghana’s fiscal data with that of the International Monetary Fund (IMF).
Terkper went on to say that the exclusion of exceptional expenses by the government in its fiscal report would lead to differences in data held by the government and the IMF.
This is because the fund includes all exceptional expenses and arrears in its fiscal data reporting.
For that reason, he expects Ofori-Atta to clearly state the source of funding for the Free SHS programme after the government used GHc2.2 billion out of the Sovereign Bond to kickstart it.
In other news, the Chamber of Independent Power Producers and Bulk Consumers (CIPDiB) has called for the inclusion of a $1.4 billion debt owed to them by the government in the mid-year budget review.
Their call comes ahead of the presentation of the budget to Parliament which is scheduled for Thursday, July 23, 2020.
The CIPDiB noted that the continuous piling up of debt has compelled them to secure expensive loans to sustain their businesses.
READ ALSO: Groupe Nduom releases statement; says government can pay all of its debts
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