Kyei-Mensah-Bonsu: Negotiations For IMF Bailout May Delay 2023 Budget

• The 2023 budget for the country may delay further as government officials negotiate an IMF bailout for the country
• The Majority Leader, Osei Kyei-Mensah-Bonsu, said the talks have necessitated the budget being moved from the earlier advertised date of November 15, 2022
• The Suame MP also disclosed that a team from the IMF is expected in Ghana next week for further talks on the $3 billion economic programme for the country

The 2023 budget statement and economic policy document may not be presented to Ghanaians on the earlier advertised date of November 15, 2022.

This comes as negotiations for an economic programme with the International Monetary Fund (IMF) linger.

Addressing the media in Parliament on Thursday, November 3, 2022, Majority Leader Osei Kyei-Mensah-Bonsu said the current negotiations for an IMF bailout might delay the presentation.

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Proceeding With The Budget On November 15 May Place Too Much Pressure on Government Officials - Kyei-Mensah-Bonsu

According to him, proceeding with the budget on the scheduled date may place too much pressure on officials expected to scrutinize data to be incorporated into the 2023 budget.

He, however, denied claims the delay in the budget presentation is in breach of the laws of the land as the 1992 constitution stipulates that November 30 is the deadline for the reading of the policy document.

In accordance with the dictates of the Public Financial Management Act, the budget was scheduled to be presented in the next two weeks, but with no end to the sealing of a deal with the IMF, the deadline cannot be worked with.

A team from the IMF is expected in the country next week for further talks and scrutiny of the country’s books.

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2022 Budget Thrown Out Of Gear - Akufo-Addo

President Nana Akufo-Addo has already admitted that the current economic crisis in the country has thrown the 2022 budget out of gear.

In his Sunday night televised address, the President publicly acknowledged the general hardships afflicting the ordinary Ghanaian.

Ghana's Return To IMF: Any Deal Before 2023 Budget Will Not Be In The Country's Best Interest – Dr Ato Forson

Earlier, YEN.com.gh reported that the Ranking Member of Parliament's Finance Committee, Dr Cassiel Ato Forson, had cast doubts on the country's ability to successfully negotiate a programme with the IMF within the shortest possible time.

The Ajumako-Enyan-Essiam MP believes that a deal with the Bretton Woods Institution within the next few weeks will spell disaster for the country.

Source: YEN.com.gh