A FORMER Speaker of Parliament, Prof. Mike Oquaye, says Ghana could avoid revisiting the IMF in future if structural weaknesses inherent in the constitution are reviewed to translate the natural resources the country is endowed with into financial assets for economic development.
Speaking at the Rt. Hon. Prof. Mike Oquaye Centre for Constitutional Studies at the Institute of Economic Affairs (IEA) seminar in Accra last Wednesday, on the theme “Ghana Beyond the 17th IMF. Our Natural Resources and Economic Challenges: The Constitutional Pathway,” he said the 1957, 1960, 1969 as well as the 1979 and 1992 constitutions have largely been directed by the exigencies of the time, hence the need to review the present constitutional arrangement.
Prof. Ocquaye said though he was mindful of argument espoused that not everything could be written in the constitution compared to the US which has a tiny document, there was the need for some form of interrogation on the state of affairs and how the constitutional arrangement could help in the quest for a new world economic order.
He explained that the country’s inability to control its natural resources and the deprivation of some basic food in the hands of foreigners and the political system could be attributed to lack of sanctions stipulated in the 1992 Constitution. Citing Article 55 (1) that only a citizen of Ghana may make a contribution or a donation to a political party registered in Ghana, which bars people from contributing to political parties.
He also recommended that a new developmental approach needed to be reconsidered particularly, for a new bail approach to tackle offences that undermine the economic resources despite the country’s concern for fundamental human rights.
The Member of Parliament for Abuakwa South who is also the Chairman of the Parliamentary Select Committee on Mines and Energy, Atta Akyea, for his part, said he was a bit nervous in using law to achieve economic ends due to the diversity of views by industry players as to how the resources of the nation should be mobilised to achieve the result the country needs, citing ‘the directive principles of state policy’ which gives clues as to how certain aspect of the economy should be managed.
Present at the dialogue include Dr. Joyce Aryee who chaired the event, 1st Deputy Speaker of Parliament, Joseph Osei Owusu, Majority leader, Osei Kyei-Mensah-Bonsu, MP for Ketu North and Chairman of the Public Accounts Committee of Parliament, representatives of political parties and other notable individuals.
BY Ebenezer K. Amponsah