Ofoase Ayirebi Member of Parliament Kojo Oppong Nkrumah has called on the government to brief Parliament and the Ghanaian public on the details of the International Monetary Fund’s (IMF) proposed Policy Coordination Instrument (PCI).
Mr Oppong Nkrumah said although the PCI may not require parliamentary approval because it does not come with new financing, the government must not use the absence of a formal approval requirement as a reason to keep Parliament and citizens uninformed.
In a post on X, the former Information Minister said the government had a constitutional and democratic responsibility to explain the policy commitments associated with the programme and how they would be implemented.
“The IMF’s Policy Coordination Instrument (PCI) may not require parliamentary approval because it comes without new financing, but that is no excuse to sideline Parliament or the Ghanaian people,” he said.
He urged the government to provide Parliament with details of the programme’s policy commitments, implementation roadmap and expected implications for the economy.
Mr Oppong Nkrumah placed particular emphasis on the potential effects of the reforms on economic growth and employment, arguing that these were among the issues of greatest concern to Ghanaians.
“In particular we need to know its implications on growth and jobs as these are the key variables that matter to the Ghanaian people,” he said.
The MP said citizens should be given sufficient information about reforms being undertaken on their behalf and should be able to assess government’s performance against the outcomes promised.
“Ghanaians deserve to know the reforms being undertaken in their name and to hold [the government] accountable for the outcomes,” he said.
His comments come amid discussions over Ghana’s engagement with the IMF under a PCI, an instrument designed to support countries that do not need, or do not wish to access, IMF financing but want policy monitoring and credibility for their economic reform programmes.
Mr Oppong Nkrumah maintained that transparency and accountability should extend beyond the minimum requirements of the law.
“Transparency and accountability must not end where legal requirements begin,” he said.
