Parliament has contributed to economic crisis

The Minority in Parliament has accused the House of contributing to the country’s current economic crisis.

The group contends that Parliament has failed in its oversight responsibility of the government’s excessive borrowing which has increased the debt stock beyond 100 percent of Gross Domestic Product.

Speaking at a dialogue with the core leadership and selected committees of Parliament organised by the Ministry of Parliamentary Affairs, the Minority Leader, Haruna Iddrisu said Parliament’s role in defending the public’s interest is eroded.

“Parliament’s role as the defender of the people’s interest is lost. So how did we get here, how come we didn’t anticipate it? It is only Parliament that approves the terms and conditions of the loan. So, if we have exceeded 100 percent of GDP, how did it happen?”

He added that Parliament has become a clearing house for the executive without proper scrutiny of government policies.

Meanwhile, the Majority Leader and Minister for Parliamentary Affairs Osei Kyei-Mensah-Bonsu on his part said the appreciation of the cedi has contributed to the reduction of the country’s debt stock by about 40 billion cedis.

“You know that the appreciation of the cedi now has brought the debt stock down even though nothing has been done. It has climbed down by close to 40 billion and it will still climb down if the cedi continues to appreciate against the dollar.”

Kyei-Mensah-Bonsu also urged Members of Parliament to strengthen committees in the House to improve their work and make the work of Parliament relevant.