During last Friday’s encounter with the Vetting Committee of Parliament, Yaw Osafo-Maafo, revealed that the new NPP administration would request for a review of Ghana’s programme with the International Monetary Fund (IMF). The Senior Minister designate made this disclosure when he took his turn to be vetted.
According to him, the IMF programme will certainly be reviewed. “There are two main reasons why the IMF programme must be reviewed…the current programme literally squeeze all the fiscal space out...Two, the IMF programme works along achieving targets.
The targets are set between the government and the IMF. So far, most of the targets have been missed. Therefore whether we asked for it or not, the IMF themselves will want it reviewed", he said.
It is on the back of his revelation that the Executive Director for the Progressive People’s Party has urged the NPP led government not to make renewal of progrmmes with the IMF a priority.
Speaking on ATV’s Kanawu show Richard Nii Armah noted rather prioritizing the IMF programme, government must fish out all inefficiencies within the economy to enable the country generate resources which can help us run our affairs without relying on the IMF for money.
Source: ATV
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NPP apologetics are defending Osafo Marfo. If you are interested in review without dealing wit the fundamental cause of the problems, we shall always go back to IMF.
What is this guy saying? He should advise PPP wen it comes to power.
Mr Armah should understand the magnitude of the IMF conditionality on the nation. Amount of money paid to service loans annually and the like. A renegotiation will reduce the overall impact of the said loan. While improving tax and other revenue collection, injecting efficiency and effectiveness into the system, if the leakages are not plugged or reduced it will be like pouring water into a basket. The team Nana is building is a world class and has the trust and support of the people of Ghana. We believe it will perform
Mr. Armah, I think you got it wrong. You must bear in mind that the country has already signed up to the IMF programme and gone ahead to collect monies attached to the bail out programme. As basic business practice will tell you, you can only seek review to adjust the conditions the previous gov't attached the nation to while looking for more efficient and innovative way of tackling fixing the economy.
In the abundance of resources the fuuul is relying on IMF