Kwesi Pratt: Ghana heading for HIPC soon if …

The Managing Editor for the Insight newspaper seems to be of the same opinion with the projection by the minority in Parliament to the effect that, Ghana could soon be heading into the heavily indebted poor country (HIPC) status.

The minority last Wednesday at its “True State of the Nation Address”, projected that with the huge deficit incurred in 20112 through over spending, Ghana's economy is likely to surrender to HIPC, as was the case in the year 2000.

According to Minority Leader Osei Kyei Mensah-Bonsu the Office of the President in the 2012 financial year, spent in excess of GHC 1600 million above its approved budget, without parliamentary approval.

According to the minority’s statement, the National Democratic Congress (NDC) government also spent over GHC 700 million in excess of its budget, also without parliamentary approval on Social Protection Programs whilst the Youth and Sports Ministry also spent GHC 300 million above its budget.

The minority also stated that the National Disaster Management Organisation (NADMO) spent over GHS 300 million in the last quarter of 2012 only.

Speaking on 'Badwam' on Adom TV Monday, Kwasi Pratt Jnr described it as a breach of the law [if proven to be true] that, approval was not sought from parliament before the funds were used.

Mr. Pratt however explained that deficit in itself is not negative, but stressed the need for the government to indicate how it was disbursed.

The veteran journalist is however hopeful that the matter will be clarified when the Finance Minister, Seth Terkpeh appears before the floor of Parliament on Tuesday March 5, 2013, to present the government’s financial policy for year, to members of the House.