Lending to govt without parliamentary approval impedes capital market growth – Kofi Amable

Finance Lawyer Jonathan Sitsofe Kofi Amable raised concerns over government borrowing without parliamentary approval, citing constitutional breaches and hindrance to capital market growth.

He emphasized Article 181 of Ghana's Constitution, requiring parliamentary approval for all government borrowing terms.

Amable seeks repeal of sections in financial acts conflicting with Article 181. In an interview on Citi TV, he advocates for external control on government borrowing to reduce private sector crowding out, enabling lower interest rates and boosting corporate access to capital markets.

Resolving these issues, he asserts, would enhance economic development by empowering the private sector and fostering market growth.