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(4)
An Act of Parliament enacted in accordance with clause (3) of this article shall provide (a) that the terms and conditions of a loan shall be laid before Parliament and shall not come into
operation unless they have been approved by a resolution of Parliament; and
(b) that any moneys received in respect of that loan shall be paid into the Consolidated Fund and
form part of that Fund or into some other public fund of Ghana either existing or created for the
purposes of the loan.
(5)
This article shall, with the necessary modifications by Parliament, apply to an international business
or economic transaction to which the Government is a party as it applies to a loan.
(6)
For the purposes of this article, "loan" includes any moneys lent or given to or by the Government on
condition of return or repayment, and any other form of borrowing or lending in respect of which (a) moneys from the Consolidated Fund or any other public fund may be used for payment or
repayment; or
(b) moneys from any fund by whatever name called, established for the purposes of payment or
repayment whether directly or indirectly, may be used for payment or repayment.
(7)
The Minister responsible for finance shall, at such times as Parliament may determine, present to
Parliament any information concerning any discrepancies relating to
(a) the granting of loans, their repayment and servicing;
(b) the payment into the Consolidated Fund or other public fund of moneys derived from loans
raised on institutions outside Ghana.
182 PUBLIC DEBT
(1)
The public debt of Ghana shall be charged on the Consolidated Fund and other public funds of Ghana.
(2)
For the purposes of this article, the public debt shall include interest on that debt, sinking fund
payments and redemption moneys in respect of that debt and the costs, charges and expenses
incidental to the management of that debt.
Ghana 1992 (rev. 1996)
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