Finance Minister Dr Amin Adams has confirmed that the ongoing parliamentary deadlock has delayed the release of $300 million in World Bank funding for Ghana.
In his monthly economic update, the finance minister explained that this funding is part of a larger World Bank support package focus at stabilising the economy, financing critical sectors, and addressing fiscal deficits. However, the funds remain inaccessible due to the unresolved parliamentary impasse.
“We should have passed specific legislation to qualify for the $300 million from the World Bank, but the World Bank has withheld the funds because Parliament has not passed the bills, as it has not been functioning properly,” the finance minister stated. “This is just one example of how the deadlock has affected government operations.”
Further, the minister expressed confidence that the impasse would soon end, enabling Ghana to receive the funds without major delays. He also confirmed that the government is ready to present the mini-budget despite the standoff, though he is awaiting a resolution to finalise the date for the budget reading.
“Parliament has received the budget.We are waiting for Parliament’s schedule. If this Parliament doesn’t pass it, the next one will approve it. Certainly, a non-functioning Parliament affects the government,” he added.
Parliament will reconvene from its indefinite recess on December 16, 2024, after the two major political parties have disputed control over the majority of seats.
SOURCE;Citinewsroom
