Parliament introduces economic committee to scrutinize government loan agreements

Parliament has rolled out its new Standing Orders, introducing an Economic Committee with a pivotal role in scrutinizing government loan agreements.

This move aims to bolster Parliament's capacity to delve into the economic implications of these agreements, ensuring meticulous examination.

Majority Leader Osei Kyei-Mensah-Bonsu unveiled the committee during a media briefing, emphasizing its importance in enhancing Parliament's ability to provide and seek professional

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He highlighted the evolution, stating, "We didn't use to have a committee on the economy, we now have one."

The rationale behind the committee's establishment lies in addressing the limitations of the finance committee. Kyei-Mensah-Bonsu pointed out that while the finance committee traditionally focused on terms, conditions, and payment schedules of loans, it often fell short in assessing the broader economic impact.

"We felt that, no, we need a committee on the economy that will dive into this," he explained.

The new committee, composed of MPs with expertise in economics, is envisioned to offer in-depth scrutiny. Even if lacking complete competency, the committee will engage external experts to provide comprehensive insights.