Chief of Staff’s Office Allegedly Spent 90% Of GH¢240 Million Budget For 2020 On Cars

• It has emerged that the Chief of Staff's office spent a chunk of money allocated to it on the purchase of cars
• The office at the presidency spent as much as 90% of its 2020 expenditure on vehicles
• This was disclosed by a ranking member on the Finance Committee of Parliament, Dr Cassiel Ato Forson

A top member of Parliament's Finance Committee has disclosed that the Chief of Staff's office spent almost all of its 2020 budget on purchasing vehicles.

Dr Cassiel Ato Forson, a ranking member on the committee, disclosed that Frema Osei-Opare's office spent as much as 90% of the GH¢240 million budget allocated to her office on cars.

The opposition MP told Joy News' Upfront that the details of the 2020 budget expenditure were discovered when documents were presented to the committee.

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"It is just way too much because I am comparing it to the amount we've spent in previous years. No government has spent this much before," Dr Forson said.

Akufo-Addo Declares IMF Bailout Decision Not Because Of Government Mismanagement

Meanwhile, President Akufo-Addo has dismissed suggestions that the country has run to the International Monetary Fund (IMF) for a bailout because of mismanagement under his government.

YEN.com.gh reported previously that he told Damango-based PAD FM that external factors pushed Ghana’s economy to the brink, noting that the global crisis has spared no global economy.

“Everybody recognises it is not as a result of my mismanagement, as was the case during the tenure of the previous government. The reality is that there are global inflation, high commodity prices, among others, and all these have been the principal reasons for the difficulties we are having as a country,” the president said.

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Economist gives thumbs up to move to inject $2bn to improve cedi’s performance

Cedi Depreciation: Economist Backs Injection Of $2 Billion To Strengthen Struggling Local Currency

In an unrelated story, an Economist has said the upcoming injection of $2 billion into the Ghanaian economy should balance the demand and supply of dollars, and possibly hold the cedi depreciation.

Dr Theresa Mannah-Blankson, a Fellow of the Finance and Economics Pillar of the Centre for Social Justice (CSJ), said the strategy by the government could yield some possible results for the struggling cedi.

She noted, however, that the effectiveness of the move would depend on the actual shortfall of dollars in the economy.

Source: YEN.com.gh