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Claim by gov't to exit IMF a joke-Minority

Written by  Feb 09, 2018
The Minority has downplayed claims by government of its plans to exit from the International Monetary Fund (IMF). The Minority at a press conference said government will only exit if the benchmark of fiscal consolidation is met and of one such fundamental, is debt management and superior debt management strategy and its sustainability. The Executive Board of the International Monetary Fund in September 2016 approved the third tranche of $116.2 million under Ghana’s three-year programme with the fund. The third approval brought the amount disbursed so far under the programme to $464.6 million. Ghana entered the three-year arrangement under the Extended Credit Facility (ECF) for about US$918 million on April 3, 2015. Government in August 2017 met the board of the International Monetary Fund (IMF) to present its decision not to extend the programme. Already, President Akufo-Addo has stated that government will not extend the programme when it ends in December 2018. But the Minority Leader says their side is worried at the announcement by the president and how that can affect the international market and the Ghanaian economy as they continue to issue bonds. ‘’We have not met all the requirements and we are not likely to meet all the requirements because when you have them accumulate arrears and pretend that they are fiscally disciplined,’’ then we have a challenge. The Minority has promised to match the Majority boot for boot as the House prepares to debate the President’s State of the Nation Address.
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