Alexander Agyare, the Member of Parliament for Kade and Vice Chairman of Parliament’s Budget Committee, has issued a strong critique of the government’s fiscal management, citing “unrealistic” revenue mobilisation targets and a lack of transparency surrounding a staggering $240 million loss involving Goldboard and the Bank of Ghana.

Speaking on the sidelines of parliamentary proceedings, Agyare raised concerns about the gap between the government’s projected revenue and the actual funds reaching state institutions.

He noted that despite failing to meet revenue expectations in 2025, the targets for 2026 have been set even higher—a move he described as disconnected from economic reality. The MP also highlighted a troubling trend of what he termed “ghost releases” to ministries, departments, and agencies (MDAs).

According to him, while some agencies appear to have received funds on paper, the money does not reflect in their actual accounts.

“The Budget Committee is concerned about releases. In 2025, the government failed to make releases, and some MDAs had figures posted into their accounts that did not reflect in their actual balances,” Agyare stated.

He pointed to the Controller’s office as a possible source of the discrepancy, adding that the committee would maintain strict oversight to ensure such “false figures” are addressed.

Beyond these internal financial concerns, Agyare is also demanding clarity on a significant loss tied to the country’s gold-backed currency support programme.

Reports indicate that over $240 million may have been lost in transactions involving Goldboard and the Bank of Ghana. The MP expressed frustration over the lack of official explanation regarding the issue.

“The people of Ghana deserve answers. We cannot lose over $240 million and still not receive clear explanations,” he said.

His concerns come at a sensitive time, as the International Monetary Fund (IMF) has reportedly declined to comment on the matter, citing diplomatic protocols.

Agyare argued that since the programme was intended to stabilise the national currency, the public has a right to full disclosure on how such a substantial amount was lost.

As the Budget Committee intensifies its oversight of government spending, he signalled a shift toward stricter scrutiny of fiscal policies and implementation.

“The committee will closely scrutinise government spending and performance,” he added, noting that media attention will play a crucial role in ensuring accountability.