The Member of Parliament for Kade and Vice Chairman of Parliament’s Budget Committee, Alexander Agyare has issued a stinging critique of the government’s fiscal management.
He cited “unrealistic” revenue mobilisation targets and a lack of transparency regarding a staggering $240 million loss involving Goldboard and the Bank of Ghana.
Speaking on the sidelines of parliamentary proceedings, Agyare raised concerns about the discrepancy between the government’s projected income and the funds reaching state institutions.
He noted that, despite failing to meet expectations in 2025, 2026 estimates have been set even higher, a move he described as disconnected from economic reality.
The MP further highlighted a troubling trend of “ghost releases” to ministries, departments, and agencies (MDAs). According to Agyare, while some agencies appear to have received funding on paper, the money is nowhere to be found in their actual accounts.
“The Budget Committee is concerned about releases. In 2025, the government failed to make releases, and some MDAs had numbers posted into their accounts that didn’t reflect in their actual accounts,” Agyare said.
He specifically pointed toward the Controller’s office as the source of the issue, vowing that the committee would maintain strict oversight to ensure these “false numbers” are addressed.
Beyond internal bookkeeping issues, the MP is spearheading a call for clarity on a massive financial hit to the nation’s gold-backed currency support programme.
With reports of a loss exceeding $240 million in dealings between Goldboard and the Bank of Ghana, Agyare expressed frustration over the wall of silence from official channels.
“The people of Ghana demand to know. We can’t just lose over $240 million, yet we will not get good answers to that,” Agyare stated.
The MP’s demands for transparency come at a sensitive time, as the International Monetary Fund (IMF) has reportedly declined to comment on the specific loss, citing diplomatic protocols.
He argued that since the programme was designed to stabilise the national currency, the public deserves a full accounting of how such a significant sum vanished without explanation.
As the Budget Committee prepares to ramp up its monitoring of government spending, Alexander Agyare signalled that the days of unchecked fiscal optimism are over. He emphasised that the government must “sit up” and provide the accountability that citizens expect.
“The committee will scrutinise the government’s spending and performance,” he noted, adding that increased media attention will be vital in bringing the truth to light.