MPs agree that Ofori-Atta should complete IMF negotiations

Some members of the Majority New Patriotic Party (NPP) Caucus demanding the resignation or firing of Finance Minister Ken Ofori-Atta have accepted President Nana Addo Dankwa Akufo-Addo’s request that the Finance Minister be allowed to complete the ongoing negotiations with the International Monetary Fund (IMF).

After hours of engagements with the MPs and the party leadership, it was agreed that considering where negations have reached, Ofori-Atta who is leading the negotiations exiting office at this time will not be in the interest of the country which seeks to secure a deal before the end of this year.

A letter signed by Majority Leader Osei Kyei-Mensah-Bonsu the request has also been stood down to allow Ofori-Atta present the 2023 budget statement and economic policy and the subsequent passage of the appropriation bill.

The statement assured that after the aforementioned is completed, the request shall be acted upon.

Securing an IMF bailout as soon as possible is seen as critical to restoring investor confidence which is badly needed to slow or halt the massive exit of portfolio investors which is fueling the rapid depreciation of the cedi.

President Akufo-Addo said the aggrieved MPs did not table their request before prior to their press conference.

The majority NPP organized a press conference asking President Nana Addo Dankwa Akufo-Addo to remove the Minister of Finance, Ofori-Atta and Mr Charles Adu Boahen, a Minister of State in the Finance Ministry from office.

They said it has become necessary to restore hope in the financial sector and reverse the downward trend of the economy.

Addressing the press in Parliament, Mr Andy Appiah-Kubi, MP for Asante-Akim North, who spoke on behalf of the group, said the summary of their concern was for the Minister of Finance, Mr Ofori-Atta and Mr Adu Boahen to be removed from office.

“We pray that this prayer will be carried to the presidency,” he said.

Meanwhile, the Minority Caucus in Parliament has also moved a motion on the floor of Parliament for the impeachment of the Minister of Finance.

Mr Ahmed Ibrahim, Deputy Minority Chief Whip, speaking at a press conference in Parliament House in Accra, said Mr Haruna Iddrisu, the Minority Leader, had already informed Mr Osei Kyei-Mensah-Bonsu, the Majority Leader and Leader of Government Business that he would be tabling a motion for the impeachment of Mr Ofori-Atta.

He said the impeachment was on the basis of poor economic management, inconsistency in policies, and “non-performance”.

The Minority Caucus explained that their action is based on poor economic management, inconsistency in policies, and nonperformance, which would also help to restore confidence in the economy.
Mr Ahmed Ibrahim, the Deputy Minority Chief Whip, speaking at a press conference at Parliament House in Accra, said during the Business Committee Meeting on Monday, October 24, Mr Haruna Iddrisu, the Minority Leader, informed Mr Osei Kyei-Mensah-Bonsu, the Majority Leader and Leader of Government Business, that he would be tabling a motion for the impeachment of the Finance Minister.

Touching on an earlier press conference by the Majority Caucus calling on the President to either dismiss or reshuffle the Finance Minister, Mr Ibrahim said as representatives of the people, they must move a motion to call for the head of the Finance Minister.

“So, if our brothers in the Majority believe in this, what they should do (is that) they should support the call of the Minority Leader and the Motion of the Minority for the dismissal of the Finance Minister. I see their press briefing long overdue,” he said.

Mr Ibrahim reiterated that the Legislature only needs two-thirds majority votes to sack the Minister.

He said the House was composed of 137 Minority MPs and 137 Majority MPs plus one, and if both sides believed the Finance Minister was “killing the economy and therefore, he must go, it would not be difficult to mobilise 183 Members of Parliament to dismiss or reshuffle him, if the President is failing to do that.”

He said the Minority’s motion was ready and that their Leader did not want to surprise the Majority Leader, hence the prior notice.

He said they did not want to take the Majority’s earlier press briefing as defilation of their motion, adding that their call for the Minister’s dismissal was a clear indication that he had failed, and the Minority would still pursue that motion.

He appealed to the Majority Caucus to support the motion when moved on the floor of Parliament.

“If MPs don’t want the Finance Minister, we cannot be blaming President Nana Akufo-Addo, we have the power to use 183 MPs to impeach him.”