IMF Negotiations Halted Suame Interchange Project – Hon. Osei-Mensah

The Ashanti Regional Minister, Hon. Simon Osei-Mensah, has revealed that the Suame Interchange Project had to be halted due to negotiations with the International Monetary Fund (IMF).

In an interview with Agudey on Nkwantannanso on June 8, he stated that the negotiations caused delays in loan agreements, which affected the availability of funds for the project.

According to Hon. Osei Mensah, the money for the project is now ready after changing the original source of funds.

“The IMF negotiations stalled all loan agreements which affected the source of funds for the project. This resulted in the need to explore alternative funding sources. Now the money is ready.”

The Suame Interchange project will commence towards the end of July,” he said.

Additionally, the Regional Minister addressed issues related to securing a campsite for the contractors. He mentioned that these challenges have been resolved, indicating progress in overcoming logistical hurdles.

The International Monetary Fund (IMF) approved a $3 billion loan for Ghana, a West African country currently facing a severe economic crisis. The loan will be provided through the Extended Fund Facility over a period of 36 months.

The IMF board endorsed the program, which aims to restore macroeconomic stability, ensure debt sustainability, and implement comprehensive reforms to build resilience and foster stronger and more inclusive growth.