US$250 Million Loan Deal: Majority wants parliament reconvened

The Majority caucus in Parliament has formally requested an extraordinary session to address matters of national importance, including a $250 million loan from the World Bank.

This request is in accordance with Article 112(3) of the 1992 Constitution and Standing Order 53 of the Parliament of Ghana.

In a memo dated July 31, 2024, the Majority caucus invoked their Constitutional and Statutory rights as Members of Parliament, urging the Speaker to convene Parliament within seven days.

They expressed their readiness to provide additional information or clarification and requested that the Speaker consider their request favourably.

To underscore the legal foundation of their request, the caucus cited Article 112(3) of the 1992 Constitution, Standing Orders 53(1), 53(2), and 58(4).

They emphasized that the Speaker has the authority to summon Parliament before or after an adjournment and that the usual fourteen-day notice requirement does not apply in emergencies.

The urgent matters outlined in the memo include a motion on a $250 million financing agreement between the Government of Ghana and the International Development Association for the Ghana Energy Sector Recovery Programme.

Other items for consideration are tax exemptions for designated beneficiaries under the One District, One Factory Programme, the Ghana Financial Stability Fund, and an additional $250 million facility from the International Development Association.

The caucus also listed several bills for consideration, including the Budget Bill, 2023; Rent Bill, 2023; University of Local Governance and Development Bill, 2024; Environmental Protection Bill, 2024; Social Protection Bill, 2024; Intestate Succession Bill, 2022; Chartered Institute of Reconstruction and Insolvency Practitioners Bill, 2023; Ghana Industrial Property Office Bill, 2024; and the National Petroleum Authority Bill, 2024.

Parliament had adjourned sine die on July 30, 2024, with the aforementioned items already advertised and scheduled for consideration.

According to the caucus, the urgency of these matters necessitates reconvening Parliament to fulfill its constitutional mandate and serve the interests of the Ghanaian people.

The memo concluded by stating that the requisition was made in good faith and in the national interest, emphasizing the pressing importance of the outlined matters and their need for urgent parliamentary attention.