Trade and Industry Minister, Alan Kwadwo Kyerematen says the IMF bailout government is seeking will not necessarily create prosperity, but help government attain fiscal discipline and streamline its activities.
A team of IMF officials will arrive in the country today to begin talks with government on a balance of payment programme.
“The IMF itself cannot create prosperity for us, however, it comes in purely for stabilisation, balance of payment and liquidity support,” Mr. Alan Kyerematen said at a meeting with businessmen and captains of industry in Accra.
He also assured Ghanaians that government will put its best foot forward during negotiations with the IMF team.
The Ministry of Information, in a statement announcing the President’s directive, said the Minister for Finance, Ken Ofori-Atta will be leading the negotiations with the IMF.
The news has been received with mixed feelings. The Government of President Akufo-Addo initially condemned the IMF on several platforms, vowing never to seek any form of support from the fund.
Labour unions including TUC have lambasted the government for its decision to seek support from the fund.
They said government resorting to the IMF means the economy will likely reel under several restrictions and controls to be imposed by the fund.
The Attorney-General’s Department has defended the government’s financial dealings on the National Cathedral project, rejecting… Read More
President John Dramani Mahama has announced that Finance Minister Cassiel Ato Forson has allocated GH¢30.8… Read More
The Economic and Organised Crime Office (EOCO) has arrested former Chief Executive Officer of the… Read More
Speaker of Parliament Alban Sumana Kingsford Bagbin has vowed to take decisive action to restore… Read More
Former Deputy Executive Director of the National Service Authority (NSA), Gifty Oware-Mensah, has been released… Read More
The Aircraft Accident and Incident Investigation and Prevention Bureau (AIB Ghana) has concluded that a… Read More