According to second deputy speaker Andrew Asiamah Amoako, the parliament reconvened after a break to evaluate the excise tax stamp and approve concessional loans worth $710 million. A bill to reform the method for allocating school trust money was put off while the house also adopted guidelines for the automated transmission of financial account information, he added.
Ghana’s MPs convened for a special session in the nation’s capital, Accra, to adopt the financial measures that are urgently needed to support the government’s application for a loan from the International Monetary Fund.
Ghana is awaiting the outcome of a formal creditor committee’s assessment regarding its debt relief request. The West African country is in the midst of restructuring virtually all of its debt, which stood at 576 billion cedis at the end of November. If funding assurances are received favorably, the IMF’s board will be able to authorize a $3 billion loan for the country.
