The country’s Minister of Finance Ken Ofori-Atta has dismissed speculations that the President Nana Akufo-Addo led administration might extend Ghana’s bailout programme with the International Monetary Fund.
The Minister asserted that government was rather committed to successfully bringing the programme to a conclusive end by April next year, adhering to the stipulated fiscal discipline to get the nation’s economy thriving again.
The developments follows an earlier disclosure by the Finance Minister to members of the press that Ghana was going to fail on meeting three key economic benchmarks set for the IMF programme.
According to the Minister, they benchmarks include the country’s growth target, the fiscal deficit target as well as Ghana’s primary balance which he said was currently in the negative.
Responding to the question during a press briefing in Accra on whether or not, the new government would consider extending the IMF bailout programme, Mr. Ken Ofori-Atta said “On the IMF programme, there is a strong commitment to finish and finish strongly with it. And that is really our orientation and pre – occupation.
Ours is to put the numbers down and agree what they are and also work out the discipline that is required for us to ensure that the fiscal consolidation is not dislocated.â€
He added that “when you are faced as a parent with these kinds of numbers, of course, you are going to try and meet it and so we are committed to finishing the programme and even come out stronger than is expectedâ€.Â
He further reiterated the new government’s commitment to renegotiate the IMF deal, after an ongoing validation revealed that GH¢7 billion ($1.6 billion) in expenses were unaccounted for by former President John Mahama – led administration.