Accra, (Greater Accra) 12 Jan. '99,
Accra, (Greater Accra) 12 Jan. '99, Canada yesterday pledged to support Ghana's parliamentary committee project with one billion cedis under a memorandum of understanding signed in Accra. The support is to complement government's effort at improving the capacity of all its arms in decision-making and governance, with emphasis on promoting participation in economic policy formulation and improving democracy in Ghana. The project will assist in increasing the capacity of the parliamentary finance committee to participate effectively in national governance and decision making concerning economic policy and resource allocation. Additionally, it will help the public accounts committee to monitor and report on public sector financial management to promote accountability and encourage compliance with national systems of financial administration. Mrs Janet Graham, Canadian High Commissioner, signed for the donors which include the Canadian International Development Agency [CIDA], Economic Development Institute [EDI] of the World Bank, Canadian Parliamentary Centre and the Institute of Economic Affairs [IEA] in Ghana. Mr Kwame Peprah, Minister of Finance, signed for the government. Mrs Graham underscored the need for all stakeholders in the economy to participate in decisions that lead to the formulation of economic policies that affect the greater majority of Ghanaians. She said the project is intended to increase the bridging role played by the parliamentary committees between the executive and civil society and economic stakeholders. This is to ensure transparency, accountability and probity in government expenditure, she said, adding that the finance and public accounts committees have very important roles to play in that direction. She, however, noted that while difficult economic conditions persist in Ghana, the debate on economic policy is expanding to include the views and interests of a wide range of social and economic stakeholders. Mrs Graham pledged her country's continuous support for Ghana's economic and socio-political progress "as long as your government is committed to promotion of transparency, probity and accountability." Mr Peprah said it is the government's policy to involve all stakeholders in the economy in the development of policies to ensure easy understanding and less difficulty in implementation. He therefore expressed his gratitude to the Canadian government and the other donor organisations for the support and pledged that the funds would be judiciously and specifically applied. Commenting on the 1999 budget, Mr Peprah said it would just be a guidance document for the continuation of the government's last year's economic activity. It will not touch on either the Price Waterhouse report which seeks to rationalise wages in the public sector or the newly introduced Value Added Tax (VAT). "Despite our loftier goals last year, we went through a series of economic down turns due to the energy crisis but recorded close to five per cent growth by the end of the year." He hinted that with the fall in interest rates and inflation levels, all indications point to a brighter future this year.
