Bawku Central Member of Parliament, Mahama Ayariga, has officially taken legal action against the Finance Minister, Ken Ofori-Atta, concerning the creation of the Ghana Financial Stability Fund (GFSF). The MP contends that the Finance Minister's use of unsupervised methods to manage the Fund violates the 1992 Constitution of Ghana.
READ ALSO: 2024 Budget: Ministry of Finance Establishes Climate Financing Division
In a writ presented to the Supreme Court on Wednesday, November 15, the former Information Minister has requested various reliefs, including a declaration that the GFSF is both illegal and unconstitutional. The submitted writ specifically states, "Declaration that the establishment of the Ghana Financial Stability Fund (GFSF) through administrative fiat issued by the Ministry of Finance and Economic Planning is illegal and unconstitutional, as it violates the provisions of articles 175, 176, 178, and 179 of the 1992 Constitution of Ghana."
Furthermore, the lawmaker seeks a declaration that the "Ministry of Finance's use of opaque and unscrutinized mechanisms for the administration and disbursement of funds from the GFSF, without the necessary authorization by an express Act of Parliament, is a clear disregard for the 1992 constitution of Ghana, as outlined in articles 175, 176, 178, and 179."
READ ALSO: 2024 Budget: Support Proposed Measures In Budget - Ken-Ofori Attah To MPs
Mahama Ayariga has also taken additional steps by petitioning the World Bank and the International Monetary Fund (IMF), urging these institutions to abstain from endorsing the Ghana Financial Stability Fund (GFSF). According to Mr. Ayariga, the GFSF is unconstitutional and illegal, thus prompting his call against the support of this fund by the Bretton Wood Institutions.
In a letter directed to the local offices of the World Bank and IMF in Ghana, Mr. Ayariga emphasized that the GFSF has not undergone parliamentary scrutiny or secured subsequent approval, rendering it ineligible for backing from these international financial entities.
Comments
Post a Comment