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19 July 2017

#QuizNana: I’m not extending IMF aid deal – Akufo-Addo

President Akufo-Addo has emphasised that his government will not revise the $918 million aid deal with the International Monetary Fund (IMF) at the end of the programme.

This is in contrast with reports by the International media that cited the Akufo-Addo government’s preparedness to push back the end date of its $918 million aid programme from April 2018 to December 2018.

Reuters reported lately that there was a request by government on the IMF deal expected to lead to talks aimed at a revised deal to include more money and fresh targets for fiscal consolidation.

“Ghanaian authorities released a memorandum of economic and financial policies to the IMF this week. It included a letter of intent requesting an extension of the Fund programme to December 2018,” Reuters quoted one of the sources.

But President Akufo-Addo in a maiden Press engagement in the capital, Accra insisted that his government will stick to the date of expiration of the programme with the Bretton Woods Institution.

He added:”…IMF programme comes to an end technically in April next year. It’s coming to an end next year with the budget that is going to be prepared this year.”

He continued: We will complete the programme and we are committed to completing the programme. The last budget that is going to be held under the IMF programme will be the budget that is going to be laid before the House in November by the Finance Minister. That will be the last Budget of the Government of Ghana under the current  IMF programme. So there is going to be no question of extending the programme . The programme is going to be completed and we will then be on our own. That is where most people want us to be, to be on our own to be able to mobilize our own resources to confront our future.”

 

 

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