Finance Ministry Clears Air On IMF Negotiations

The Ministry of Finance has reacted to speculations in the public domain about the ongoing negotiations with the International Monetary Fund (IMF).

It was alleged that the government did not have any available programme for consideration by the IMF. It was also reported that officials of the Fund found inaccuracies in the figures presented by the government and that the negotiations are not going well.

But the Ministry in a statement dated October 30 denied all the allegations describing them as “speculations”.

Referencing some statements by the IMF over the negotiation, the Ministry said it is “progressing well”.

“The allegation that the negotiations are not going well is categorically untrue. The IMF on numerous occasions stated unequivocally that negotiations are progressing well and affirmed that both parties are committed to reaching a deal as soon as feasible”.

On the claim that the government has no programme for consideration, the Ministry said it has submitted its Post-COVID-19 Programme for Economic Growth which is forming the basis for their negotiations with the Fund.

The Ministry also asserted that it only presented accurate data to the Fund contrary to the “speculations”.

“The Ghanaian negotiation team remains credible and highly respected and has enjoyed cooperation from the IMF. To suggest otherwise is false, misleading and pure mischief which must be ignored.”

Decrying such allegations, the Ministry said they undermine national efforts.

Addressing the nation on Sunday, October 30, 2022, President Akufo-Addo said negotiations with the Fund are in an advanced stage and may be completed by the end of this year.

“I am able to report to you, my fellow Ghanaians, that the negotiations to secure a strong IMF Programme, which will support the implementation of our Post COVID-19 Programme for Economic Growth and additional funding to support the 2023 Budget and development programme, are at advanced stages, and are going well.

“We are determined to secure these arrangements quickly to bring back confidence and relief to Ghanaians. We are working towards reaching a deal with the IMF by the end of the year.”

Source: opemsuo.com/Hajara Fuseini