September 28, 2022

Everything Will Be Done To Protect Our Financial Sector; Ofori Atta On IMF Deal

The Minister for Finance, Kenneth Ofori Atta, has assured that the engagement with the International Monetary Fund (IMF) will safeguard the interest of the financial sector in the country.

This was to rubbish claims that the country has adopted a debt restructuring approach for an IMF-supported programme.

The Ministry of Finance noted that although the discussion with the Fund is “advancing smoothly”, an agreement has not been reached yet.

“The IMF, World Bank and the Ghana team are currently undertaking debt sustainability analysis to reform the programme negotiation. In addition, the IMF and the government are working to update the medium-term macro-fiscal framework to inform the IMF programme design. Also, the government team and the IMF team are discussing policy measures and structural reforms proposing our economic programme, in that, addressing the economic challenges facing the country.

“We simply have not reached any agreement with the Fund on the parameters of any debt operation as we are in the process of completing the Debt Sustainability Analysis”, Ofori Atta said at a press conference.

He affirmed that the Government will engage stakeholders clearly and transparently as it seeks to fast-track the IMF negotiation process.

“Everything will be done to protect our financial sector”, he added.

Source: Fuseini

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