Parliament must act now; current economic situation is dangerous – George Loh

An aspiring Volta regional chairman of the opposition National Democratic Congress and former MP for North Dayi, George Loh is calling on the leadership of parliament to immediately intervene in the ongoing economic crisis Ghanaians are currently facing.

High cost of living, upsurge in prices of goods and services, high inflation and ban rates plus unprecedented cedi depreciation has sparked controversies in the political discourse of the country in the last few months. Though government is currently negotiating with the International Monetary Fund, IMF to find solutions to the crisis, that is yet to materialize.

But the George Loh, who is also a private legal practitioner believes the law making house has a major role to play at this point.

“I think that parliament is important in this matter because it is the representative of the people. Their intervention will bring clarify to what is happening”.

He argues “because you know one of their functions is  supervising the public purse and from the way things are going, they may need to invite the Governor of the bank of Ghana, head of the economic management team, they may need to invite the minister of finance and his team to get an explanation and find out what the minster is doing to turn this tide because it’s dangerous; I mean it’s throwing our economy out of gear and parliament has a responsibility to be seeing doing something to help the situation”.

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He wants the finance committee of parliament as a matter of urgency engage all stakeholders within the financial space to find immediate solution to the crisis.

According to the former lawmaker “the finance committee of parliament has the mandate under the guidance of the speaker to summon these people. All these people operate technically under the finance committee so they can do that on behalf of parliament; my understanding is that parliament itself has cash flow issues and at the moment they don’t have money to be recalled back”

“So I believe that the finance committee should take steps to invite all these major players in the financial sector so that after that they can put out an elaborate information”.




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