The government has acknowledged that the ongoing parliamentary impasse has stalled the disbursement of $300 million in World Bank funding, part of a broader financial support package aimed at stabilizing Ghana’s economy, financing critical sectors, and addressing fiscal gaps.
The funds remain inaccessible due to the deadlock in Parliament, which has been on an indefinite break over disagreements between the two main political parties about which holds the majority of seats.
“We should have passed some legislation to qualify for $300 million from the World Bank. However, the disbursement is delayed because those bills remain unpassed due to Parliament’s inactivity. This is just one example of how the stalemate has affected government business,” Finance Minister Dr. Mohammed Amin Adam said during a monthly economic update on Tuesday.
Despite the challenges, Dr. Amin Adam expressed optimism about resolving the impasse soon to unlock the funds and ensure minimal disruptions.
He affirmed the government’s readiness to present the mini-budget but noted that a resolution in Parliament is required to secure a confirmed date for the reading.
“The budget has already been submitted to Parliament. We are waiting for Parliament to convene. If this current session doesn’t approve it, the next one will. Certainly, if Parliament isn’t functioning, it hampers government operations.
“To say the economy has not been affected would be an understatement,” he admitted.
Parliament is scheduled to reconvene on December 16, 2024, raising hopes for progress on critical legislative business.
Source: Adomonline